<PAGE> 1
PROSPECTUS SUPPLEMENT This Prospectus Supplement,
FOR THE PERIOD ENDING filed pursuant to Rule 424(b)(3),
MARCH 31, 1997 TO relates to Registration Statement
PROSPECTUS DATED No. 33-43724-01 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): April 15, 1997
DISCOVER CARD TRUST 1991 E
--------------------------
(Exact name of registrant as specified in its charter)
Delaware 0-19759 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 14
Index to Exhibits is on page 4
<PAGE> 2
Item 5. Other Events
On April 15, 1997 the Registrant made available the Monthly Certificateholders'
Statement for the Due Period of March 1997, 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 E related to the Due Period ending March 31, 1997.
<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 E
(Registrant)
By: DISCOVER RECEIVABLES FINANCING
GROUP, INC.
as originator of the Trust
By: Birendra Kumar
----------------------------------
Birendra Kumar
Vice President and Treasurer
Date: April 15, 1997
<PAGE> 4
EXHIBIT INDEX
Exhibit No. Description
21 Monthly Certificateholders' Statement for Discover Card Trust
1991 E related to the Due Period ending March 31, 1997.
<PAGE> 1
EXHIBIT 21
MONTHLY CERTIFICATEHOLDERS' STATEMENT
Discover Card Trust 1991 E
-------------------------------------
CREDIT CARD
PASS-THROUGH CERTIFICATES
-------------------------------------
Under the Pooling and Servicing Agreement dated as of Nov. 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 April
21, 1997 , and with respect to the performance of the Trust during
the Due Period ended in March 31, 1997 ,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 or Class B Certificate. Certain other
information is presented based on the aggregate amounts for the Trust as a
whole.
A. 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 Certificateholders on
April 21, 1997 , per $1,000 interest ............. $ 84.347222250
2. The total amount of the distribution to Class B Certificateholders on
April 21, 1997 , per $1,000 interest ............. $ 6.541666750
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
....................................................... $ 1.013888900
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
....................................................... $ 6.541666750
<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
....................................................... $ 83.333333350
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
B. 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 ................................. $ 8,250,070.14
(b) The aggregate amount of Principal Collections processed during the
related Due Period ................................. $ 83,980,226.52
(c) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Investor
Certificates ....................................... $ 1,674,764.24
(d) The aggregate amount of Principal Collections processed during the
related Due Period which was allocated in respect of the Investor
Certificates ....................................... $ 71,097,659.77
(e) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Class A
Certificates ....................................... $ 1,046,933.90
(f) The aggregate amount of Principal Collections processed during the
related Due Period which was allocated in respect of the Class A
Certificates ....................................... $ 64,631,182.33
(g) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Class B
Certificates ....................................... $ 627,830.34
(h) The aggregate amount of Principal Collections processed during the
related Due Period which was allocated in respect of the Class B
Certificates ....................................... $ 6,466,477.44
(i) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Seller
Certificate ........................................ $ 6,575,305.90
<PAGE> 3
(j) The aggregate amount of Principal Collections processed during the
related Due Period which was allocated in respect of the Seller
Certificate ........................................ $ 12,882,566.75
2. Principal Receivables in the Trust.
(a) The aggregate amount of Principal Receivables in the Trust as of the
end of the Due Period ended in March 31, 1997 (which reflects the
Principal Receivables represented by the Seller Certificate and the
Investor Certificates) ............................. $ 522,192,370.86
(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 March 31, 1997 .................... $ 33,333,333.26
(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 March 31, 1997 .................... $ 40,000,000.00
(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
.................................................... 14.04%
(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 ........................................ 6.38%
(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 .......................................... 7.66%
(g) The Deficit Controlled Amortization Amount (after giving effect to the
payments made on such Distribution Date
.................................................... $ 0.00
3. Investor Charged-Off Amount.
(a) The aggregate amount of Receivables charged-off as uncollectible
during the Due Period ended in March 31, 1997 allocable to the
Investor Certificates (the "Investor Charged-Off Amount")
.................................................... $ 589,754.41
<PAGE> 4
(b) The aggregate amount of Receivables charged-off as Uncollectible
during the Due Period ended in March 31, 1997 allocable to the
Class A Certificates (the "Class A Charged-Off Amount")
.................................................... $ 368,669.14
(c) The sum of (i) the aggregate amount of Receivables chargedoff as
uncollectible during the Due Period ended in March 31,
1997 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") $ 261,447.69
(d) The Cumulative Class A Charged-Off Amount on .......................
............ April 21, 1997 ....................... $ 0.00
(e) The Cumulative Class B Charged-Off Amount on .......................
............ April 21, 1997 ....................... $ 0.00
4. 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 March
31, 1997 ........................................ $ 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 March
31, 1997 ........................................ $ 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 Certficateholder'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 Certficateholder's investment)
.................................................... $ 0.000000000
<PAGE> 5
(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 April 21, 1997
.................................................... $ 0.00
(j) The aggregate amount of Class B Investor Losses in the Trust
as of the end of the day on April 21, 1997
.................................................... $ 0.00
(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
5. Investor Servicing Fee.
(a) The amount of the Class A Monthly Servicing Fee payable by the Trust to
the Servicer for the month of March 31, 1997
.................................................... $ 111,125.13
<PAGE> 6
(b) The amount of the Class B Monthly Servicing Fee payable by the Trust to
the Servicer for the month of March 31, 1997
.................................................... $ 66,640.05
6. 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 April 21, 1997 .............................. $ 40,000,000.00
(b) The amount set forth in paragraph 6(a) above as a percentage of
the Class A Interest. ............................... 120.00%
7. 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 April 21, 1997
..................................................... $ 30,400,000.00
(b) The amount set forth in paragraph 8 above as a percentage of
the Class B Interest. ................................ 76.00%
8. The Pool Factor.
The Pool Factor represents the ratio of the amount of the Class A
Investor Interest as of the end of the day on April 21, 1997 to the
amount of the Class A Investor Interest as of the Closing Date. The amount
of Class A Certificateholder's pro rata share of the Class A Investor
Interest can be determined by multiplying the original denomination
of the Class A Certificateholder's Certificate by the Pool Factor
...................................................... 0.08333333
The Pool Factor represents the ratio of the amount of the Class B
Investor Interest as of the end of the day on April 21, 1997 to the
amount of the Class b Investor Interest as of the Closing Date. The amount
of Class B Certificateholder's pro rata share of the Class B Investor
Interest can be determined by multiplying the original denomination
of the Class B Certificateholder's Certificate by the Pool Factor
...................................................... 1.00000000
<PAGE> 7
9. The aggregate outstanding balance of Receivables that were delinquent by
the 30 to 59 days as of the close of business on the last day of the Due
Period related to such Distribution Date
...................................................... $ 9,477,117.42
10. The aggregate outstanding balance of Receivables that were delinquent by 60
days as of the close of business on the last day of the Due Period related
to such Distribution Date ............................ $ 19,165,066.41
Greenwood Trust Company as Servicer
By: __________________________________
Title: Vice President, Director of
Accounting and Treasurer
<PAGE> 8
MONTHLY SERVICER CERTIFICATE
DISCOVER CARD TRUST 1991 E
----------------------------
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 Nov. 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 ................................ $ 92,230,296.66
4. The aggregate amount of Class A Principal Collections processed by
the Servicer during the related Due Period is equal to ..................
.................................................... $ 64,631,182.33
5. The aggregate amount of the Class A Finance Charge Collections
processed by the Servicer during the related Due Period is equal to .....
.................................................... $ 1,046,933.90
6. The sum of all amounts payable to the Class A Certificateholders on the
current Distribution Date is equal to .............. $ 33,738,888.90
7. The aggregate amount of Class B Principal Collections processed by
the Servicer during the related Due Period is equal to ..................
.................................................... $ 6,466,477.44
8. The aggregate amount of the Class B Finance Charge Collections
processed by the Servicer during the related Due Period is equal to .....
.................................................... $ 627,830.34
<PAGE> 9
9. The amount of drawings under the Class B Credit Enhancement
required to be made on the 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 .............. $ 261,666.67
11. 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 WHITNESS WHEREOF , the undersigned has duly executed and and
delivered this certificate this day of April 21, 1997
GREENWOOD TRUST COMPANY, as Servicer
By: ______________________________
Title: Vice President, Director of
Accounting and Treasurer
<PAGE> 10
Greenwood Trust Company
Cash Collateral Account
Monthly Portfolio Status Report
Discover Card Trust 1991 E
Due Period Ending: 03/31/97
PORTFOLIO STATUS LOSSES & DELINQUENCIES
<TABLE>
<CAPTION>
# of Accounts Dollars
<S> <C> <C>
Ending Total Outstanding 667,551 529,669,125.24
Total Principal Outstanding n/a 522,192,370.86
Total Finance Charge Outstanding n/a 7,476,754.38
Aggregate Investor Interest n/a 73,333,333.26
Delinquencies (90 days or greate 4,047 12,872,745.67
% of Ending Total Outstanding n/a 2.430337%
Investor Net Charge Offs n/a 589,754.41
Annualized % of Investor Interes n/a 6.634737%
Monthly Principal Payment Rate n/a 96.951354%
PAYMENTS & YIELD
Principal Payments
(Allocable to Investor Interest) 71,097,659.77
Finance Charges, Annual Fees & Late Fees
(Allocable to Investor Interest) 1,674,764.24
Annualized Gross Yield to Investor 18.841098%
</TABLE>
