<PAGE> 1
PROSPECTUS SUPPLEMENT This Prospectus Supplement,
FOR THE PERIOD ENDING filed pursuant to Rule 424(b)(3),
FEBRUARY 28, 1998 TO relates to Registration Statement
PROSPECTUS DATED No. 33-43136-02 and the
OCTOBER 8, 1991 Prospectus dated October 8, 1991
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 16, 1998
DISCOVER CARD TRUST 1991 D
--------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-19734 Not Applicable
- -------- ------- --------------
(State of (Commission (IRS Employer
organization) File Number) Identification No.)
c/o Discover Receivables Financing Group, Inc.
12 Read's Way
New Castle, Delaware 19720
- ----------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 323-7826
Not Applicable
-------------------------------------------
(Former name or former address, if changed since last report)
Page 1 of 15
Index to Exhibits is on page 4
<PAGE> 2
Item 5. Other Events
On March 16, 1998 the Registrant made available the Monthly Certificateholders'
Statement for the Due Period of February 1998, which is attached as Exhibit 21
hereto.
Item 7. Financial Statements and Exhibits
(c) Exhibits
Exhibit No. Description
21 Monthly Certificateholders' Statement for Discover Card Trust 1991 D
related to the Due Period ending February 28, 1998.
2
<PAGE> 3
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
DISCOVER CARD TRUST 1991 D
(Registrant)
By: DISCOVER RECEIVABLES FINANCING
GROUP, INC.
as originator of the Trust
By: /s/ Richard W. York
------------------------------------
Richard W. York
Vice President
Date: March 16, 1998
3
<PAGE> 4
EXHIBIT INDEX
Exhibit No. Description
21 Monthly Certificateholders' Statement for Discover Card Trust 1991 D
related to the Due Period ending February 28, 1998.
4
<PAGE> 1
EXHIBIT 21
MONTHLY CERTIFICATEHOLDERS' STATEMENT
Discover Card Trust 1991 D
---------------------------------------
CREDIT CARD
PASS-THROUGH CERTIFICATES
---------------------------------------
Under the Pooling and Servicing Agreement dated as of Oct. 1, 1991 (the
"Agreement") by and among Greenwood Trust Company (the "Servicer"), Discover
Receivables Financing Group Inc and Wilmington Trust Company, as Trustee, the
Servicer is required to prepare certain information each month regarding current
distributions to Investor Certificateholders and the performance of the Trust
during the previous month. The information which is required to be prepared with
respect to the distribution of March 16, 1998, and with respect to the
performance of the Trust during the Due Period ended in February 28, 1998, is
set forth below. Certain of the information is presented on the basis of an
original principal amount of $1,000 per Class A Certificate. Certain other
information is presented based on the aggregate amounts for the Trust as a
whole.
Information Regarding the Current Monthly Distribution (stated on the basis
of $1,000 original principal amount).
1. The total amount of the distribution to Class A Certificate-
holders on March 16, 1998, per $1,000 interest .................$ 0.000000000
2. The total amount of the distribution to Class B Certificate-
holders on March 16, 1998, per $1,000 interest ...............$ 0.000000000
3. The amount of the distribution set forth in paragraph 1 above in respect of
interest on the Class A Certificates, per
$1,000 interest .............................................. $ 0.000000000
4. The amount of the distribution set forth in paragraph 2 above in respect of
interest on the Class B Certificates, per
$1,000 interest .............................................. $ 0.000000000
<PAGE> 2
5. The amount of the distribution set forth in paragraph 1 above in respect of
principal on the Class A Certificates, per $1,000 interest ... $ 0.000000000
6. The amount of the distribution set forth in paragraph 2 above in respect of
principal on the Class B Certificates, per $1,000 interest ... $ 0.000000000
Information Regarding the Performance of the Trust.
- ----------------------------------------------------------------
1. Collections of Receivables.
- ---------------------------------
(a) The aggregate amount of Finance Charge Collections processed during the
related Due Period ......................................... $7,305,816.67
(b) The aggregate amount of Principal Collections processed during the related
Due Period ................................................ $78,747,959.55
(c) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Investor
Certificates ............................................... $5,711,687.48
(d) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Investor
Certificates .............................................. $63,644,100.91
(e) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Class A
Certificates ............................................... $5,192,243.91
(f) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Class A
Certificates .............................................. $57,856,125.88
(g) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Class B
Certificates ................................................. $519,443.57
(h) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Class B
Certificates ............................................... $5,787,975.03
(i) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Seller
Certificate ................................................ $1,594,129.19
<PAGE> 3
(j) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Seller Certificate
.......................................................... $ 15,103,858.64
2. Principal Receivables in the Trust; Principal Funding Account.
- --------------------------------------------------------------------
(a) The aggregate amount of Principal Receivables in the Trust as of the end
of the Due Period ended in February 28, 1998 (which reflects the
Principal Receivables represented by the Seller Certificate and the
Investor Certificates)................................... $ 482,372,638.48
(b) The amount of Principal Receivables in the Trust represented by the Class
A Certificates (the "Class A Interest") as of the Due Period Ended in
February 28, 1998........................................ $ 204,166,666.65
(c) The amount of Principal Receivables in the Trust represented by the Class
B Certificates (the "Class B Interest")( as of the Due Period Ended in
February 28, 1998......................................... $ 35,000,000.00
(d) The Class A Interest and the Class B Interest set forth in paragraph 2 (b)
and 2 (c) above as a percentage of the aggregate amount of Principal
Receivables set forth in Paragraph 2 (a) above .................. 49.59%
(e) The Class A Interest set forth in paragraph 2 (b) above as a percentage of
the aggregate amount of Principal Receivables set forth in paragraph
2 (a) above ....................................................... 42.33%
(f) The Class B Interest set forth in paragraph 2 (c) above as a percentage of
the aggregate amount of Principal Receivables set forth in paragraph
2 (a) above ........................................................ 7.26%
(g) The Aggregate Invested Amount as of the end of the current Distribution
Date..................................................... $ 385,000,000.00
(h) The Invested Amount as of the end of the current Distribution Date with
respect to the Class A Certificates...................... $ 350,000,000.00
(i) The Invested Amount as of the end of the current Distribution Date with
respect to the Class B Certificates....................... $ 35,000,000.00
(j) The total amount to be deposited into the Principal Funding Account in
respect of Principal Collections on such Distribution Date
........................................................... $29,166,666.67
<PAGE> 4
(k) The amount of the deposit referred to in paragraph 2(j) which was
allocated in respect of the Class A Certificates ......... $ 29,166,666.67
(l) The amount of the deposit referred to in paragraph 2(j) into the Principal
Funding Account on such Distribtion Date which was allocated in respect of
the Class B Certificates .......................................... $ 0.00
(m) The total amount on deposit in the Principal Funding Account on such
Distribution Date (after giving effect to the deposit referred to in
paragraph 2(j) .......................................... $ 145,833,333.35
(n) The total amount on deposit in the Principal Funding Account on such
Distribution Date for the benefit of the Class A Certificates (after
giving effect to the deposit referred to in paragraph
2(k)..................................................... $ 145,833,333.35
(o) The total amount on deposit in the Principal Funding Account on such
Distribution Date for the benefit of the Class B Certificates (after
giving effect to the deposit referred to in paragraph 2(l)......... $ 0.00
(p) The total amount of Investment Income since the last Distribution
Date ........................................................ $ 485,005.14
(q) The total amount of Investment Income since the last Distribution Date in
respect of the Class A Certificates ......................... $ 485,005.14
(r) The total amount of Investment Income since the last Distribution Date in
respect of the Class B Certificates ............................... $ 0.00
(s) The Deficit Accumulation Amount (after giving effect to
the deposit referred in paragraph 2(j)..............................$ 0.00
3. Interest Funding Account.
- -------------------------------
(a) The total amount to be deposited into the Interest Funding Account in
respect of Certificate Interest on such Distribution Date.. $ 2,577,604.16
(b) The amount of Certificate Interest to be deposited into the Interest
Funding Account on such Distribtion Date in respect of the Class A
Certificates ...............................................$ 2,333,333.33
<PAGE> 5
(c) The amount of Certificate Interest to be deposited into the Interest
Funding Account on such Distribution Date in respect of the Class B
Certificates ............................................. $ 244,270.83
(d) The total amount on deposit in the Interest Funding Account in respect of
Certificate Interest on such Distribution Date (after giving effect to the
deposit
referred to in paragraph 3(a) ............................ $ 12,888,020.80
(e) The total amount of Certificate Interest on deposit in the Interest
Funding Account on such Distribution Date in respect of the Class A
Certificates (after giving effect to the deposit referred to in
paragraph 3(b) ........................................... $ 11,666,666.65
(f) The total amount of Certificate Interest on deposit in the Interest
Funding Account on such Distribution Date in respect of the Class B
Certificates (after giving effect to the deposit referred to in
paragraph 3(c) ............................................ $ 1,221,354.15
4. Investor Charged-Off Amount.
- ------------------------------------
(a) The aggregate amount of Receivables charged-off as uncollectible during
the Due Period ended in February 28, 1998 allocable to the Investor
Certificates (the "Investor Charged-Off Amount") .......... $ 1,369,289.51
(b) The aggregate amount of Receivables charged-off as Uncollectible during
the Due Period ended in February 28, 1998 allocable to the Class A
Certificates (the "Class A Charged-Off Amount") ........... $ 1,190,620.98
(c) The sum of (i) the aggregate amount of Receivables charged-off as
uncollectible during the Due Period ended in February 28, 1998 allocable
to the Class B Certificates and (ii) the sum of (a) the positive
difference, if any, between the Class B Subordinated Payment and Class B
Finance Charge Collections (less Class B Excess Servicing) and (b) the
amount by which the Investor Interest for the Class B Certificates is
reduced pursuant to subsection 4.03(c)(i)(C)(the "Class B Charged-Off
Amount")................................................... $ 1,066,660.79
(d) The Cumulative Class A Charged-Off Amount on March 16, 1998 ....... $ 0.00
(e) The Cumulative Class B Charged-Off Amount on March 16, 1998 ....... $ 0.00
<PAGE> 6
5. Investor losses; Reimbursement of Charge-Offs.
- -----------------------------------------------------
(a) The amount of Class A Investor Loss, as defined in Section 4.06 (b) of
the Agreement, during the Due Period ended in February 28,
1998 ............................................................. $ 0.00
(b) The amount of Class B Investor Loss, as defined in Section 4.06 (b) of
the Agreement, during the Due Period ended in February 28,
1998 ............................................................. $ 0.00
(c) The amount of Class A Investor Loss set forth in Paragraph 5 (a) above,
per $1,000 interest (which will have the effect of reducing, pro rata,
the amount of each Class A Certficate holder's investment)...$ 0.000000000
(d) The amount of Class B Investor Loss set forth in Paragraph 5 (b) above,
per $1,000 interest (which will have the effect of reducing, pro rata,
the amount of each Class B Certificate holder's investment)..$ 0.000000000
(e) The total amount reimbursed to the Trust in the current month pursuant to
Section 4.06 (c) of the Agreement, if any, in respect of Class A Investor
Losses in prior months ............................................ $ 0.00
(f) The total amount reimbursed to the Trust in the current month pursuant to
Section 4.06 (c) of the Agreement, if any, in respect of Class B Investor
Losses in prior months ............................................ $ 0.00
(g) The amount set forth in paragraph 5 (e) above, per $1,000 interest (which
will have the effect of increasing, pro rata, the amount of each Class A
Certificateholder's investment) ............................ $ 0.000000000
(h) The amount set forth in paragraph 5 (f) above, per $1,000 interest (which
will have the effect of increasing, pro rata, the amount of each Class B
Certificateholder's investment) ............................ $ 0.000000000
(i) The aggregate amount of Class A Investor Losses in the Trust as of the
end of the day on March 16, 1998 ................................. $ 0.00
(j) The aggregate amount of Class B Investor Losses in the Trust as of the
end of the day on March 16, 1998 ................................ $ 0.00
<PAGE> 7
(k) The amount set forth in paragraph 5 (i) above, per $1,000 interest (which
will have had the effect of reducing, pro rata, the amount of Class A
Certificateholder's investment) ........................... $ 0.000000000
(l) The amount set forth in paragraph 5 (j) above, per $1,000 interest (which
will have had the effect of reducing, pro rata, the amount of Class B
Certificateholder's investment) ........................... $ 0.000000000
6. Investor Servicing Fee.
- ------------------------------
(a) The amount of the Class A Monthly Servicing Fee payable by the Trust to
the Servicer for the month of February 28, 1998 ............. $ 388,888.47
(b) The amount of the Class B Monthly Servicing Fee payable by the Trust to
the Servicer for the month of February 28, 1998 .............. $ 58,357.89
7. Available Subordinated Amount.
- -------------------------------------
(a) The amount available to be applied pursuant to Sections 4.03 (c) (i) (B)
and (C) of the Agreement as of the end of the day on March 16,
1998 ..................................................... $ 35,000,000.00
(b) The amount set forth in paragraph 7(a) above as a percentage of the Class
A Interest. ..................................................... 17.14%
8. Available Class B Credit Enhancement Amount.
- ---------------------------------------------------
(a) The amount available to be drawn under the Class B Credit Enhancement
pursuant to Sections 4.03 (c) (i) (G) and (H) of the Agreement as of the
end of the day on March 16, 1998 ........................ $ 26,950,000.00
<PAGE> 8
(b) The amount set forth in paragraph 8 above as a percentage of the
Class B Interest. ................................................ 77.00%
9. The Pool Factor.
- ----------------------
The Pool Factor represents the ratio of the amount of the Class A Invested
amount as of the end of the day on March 16, 1998 to the amount of the Class
A Invested Amount as of the Closing Date. The amount of a Class A
Certificateholder's pro rata share of the Class A Invested Amount can be
determined by multiplying the original denomination of the Class A
Certificateholder's Certificate by the Pool Factor .............. 1.00000000
The Pool Factor represents the ratio of the amount of the Class B Invested
amount as of the end of the day on March 16, 1998 to the amount of the Class
B Invested Amount as of the Closing Date. The amount of a Class B
Certificateholder's pro rata share of the Class B Invested Amount can be
determined by multiplying the original denomination of the Class B
Certificateholder's Certificate by the Pool Factor .............. 1.00000000
10. The aggregate outstanding balance of Receivables that were delinquent by 30
to 59 days as of the close of business on the last day of the Due Period
related to such Distribution
Date ....................................................... $ 10,131,811.09
11. The aggregate outstanding balance of Receivables that were delinquent by 60
days or more as of the close of business on the last day of the Due Period
related to such Distribution Date .......................... $ 15,271,507.28
Greenwood Trust Company as Servicer
By:
------------------------------------
Title: Vice President, Director of
Accounting and Treasurer
<PAGE> 9
MONTHLY SERVICER CERTIFICATE
DISCOVER CARD TRUST 1991 D
--------------------------
CREDIT CARD
PASS-THROUGH CERTIFICATES
--------------------------
The undersigned, a duly authorized representative of Greenwood Trust
Company ("Greenwood"), as Servicer pursuant to the Pooling and Servicing
Agreement dated as of Oct. 1, 1991 (the "Pooling and Servicing Agreement") by
and among Greenwood, Discover Receivables Financing Group Inc and Wilmington
Trust Company, does hereby certify as follows:
1. Greenwood is Servicer under the Pooling and
Servicing Agreement.
2. The undersigned is a Servicing Officer.
3. The aggregate amount of Collections processed during the
related Due Period was equal to ......................... $ 86,053,776.22
4. The aggregate amount of Class A Principal Collections
processed by the Servicer during the related Due Period
is equal to ............................................. $ 57,856,125.88
5. The aggregate amount of the Class A Finance Charge
Collections processed by the Servicer during the related
Due Period is equal to .................................. $ 5,192,243.91
6. The sum of all amounts payable to the Class A Certificate
holders on the current Distribution Date is equal to .... $ 0.00
7. The aggregate amount of Class B Principal Collections
processed by the Servicer during the related Due Period
is equal to ............................................. $ 5,787,975.03
8. The aggregate amount of the Class B Finance Charge
Collections processed by the Servicer during the related
Due Period is equal to .................................. $ 519,443.57
9. The amount of drawings under the Class B Credit Enhancement
required to be made on the
<PAGE> 10
succeeding Drawing Date pursuant to
(a) Section 4.03(c)(i)(G) is equal to............................. $ 0.00
(b) Section 4.03(c)(i)(H) is equal to............................. $ 0.00
(c) Section 4.05 is equal to...................................... $ 0.00
10. The sum of all amounts payable to the Class B
Certificateholders on the current Distribution Date is
equal to .......................................................... $ 0.00
11. The total amount to be deposited in the Principal Funding
Account on the related Distribution Date is equal to ..... $ 29,166,666.67
12. The total amount on deposit in the Principal Funding
Account (after giving effect to the deposit referred
to in Item 11 above) will be equal to .................... $145,833,333.35
13. The total amount to be deposited in the Interest
Funding Account on the related Distribution Date is
equal to ................................................. $ 2,577,604.16
14. The total amount on deposit in the Interest Funding
Account (after giving effect to the deposit referred to
in Item 13 above) will be equal to ....................... $ 12,888,020.80
15. The Invested Amount as of the end of the current
Distribution Date ........................................ $385,000,000.00
(a) for the Class A Certificateholders will be equal to.. $350,000,000.00
(b) for the Class B Certificateholders will be equal to.. $ 35,000,000.00
16. Attached hereto is a true copy of the statement required
to be delivered by the Servicer on the date of this
Certificate to the Trustee pursuant to section 5.02.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this day of March 16, 1998
GREENWOOD TRUST COMPANY, as Servicer
By:
-----------------------------------
Title: Vice President, Director of
Accounting and Treasurer
<PAGE> 11
Greenwood Trust Company
Cash Collateral Account
Monthly Portfolio Status Report
Discover Card Trust 1991 D
<TABLE>
<CAPTION>
Due Period Ending: 02/28/98
PORTFOLIO STATUS LOSSES & DELINQUENCIES
# of Accounts Dollars
<S> <C> <C>
Ending Total Outstanding 586,867 489,416,420.05
Total Principal Outstanding n/a 482,372,638.48
Total Finance Charge Outstanding n/a 7,043,781.57
Aggregate Invested Amount n/a 385,000,000.00
Aggregate Investor Interest n/a 239,166,666.65
Delinquencies (90 days or greater) 2,779 9,725,168.95
% of Ending Total Outstanding n/a 1.987095%
Investor Net Charge Offs n/a 1,369,289.51
Annualized % of Investor Interest n/a 6.123531%
Monthly Principal Payment Rate n/a 16.530935%
(Annualized % of Invested Amount)
PAYMENTS & YIELD
Principal Payments
(Allocable to Investor Certificates) 63,644,100.91
Finance Charges, Annual Fees & Late Fees
(Allocable to Investor Certificates) 5,711,687.48
Annualized Gross Yield to Investor 17.802662%
(Annualized % of Invested Amount)
</TABLE>
