<PAGE> 1
CONFORMED COPY
SECURITIES AND EXCHANGE COMMISSION
450 Fifth Street, N.W.
Washington, D.C. 20549
FORM 8-K/A
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): January 15, 1998
DISCOVER CARD TRUST 1991 F
------------------------------------------------------
(Exact name of Registrant as specified in its charter)
Delaware 0-19752 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 address, if changed since last report)
Page 1 of 15
Index to Exhibits is on page 4
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Item 5. Other Events
On January 15, 1998 the Registrant made available the Monthly
Certificateholders' Statement for the Due Period of November 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 F related to the Due Period ending November 30, 1997.
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 F
(Registrant)
By: DISCOVER RECEIVABLES FINANCING
GROUP, INC.
as originator of the Trust
By: Richard W. York
-------------------------------
Richard W. York
Vice President
Date: January 15, 1998
3
<PAGE> 4
EXHIBIT INDEX
Exhibit No. Description
21 Monthly Certificateholders' Statement for Discover Card Trust
1991 F related to the Due Period ending November 30, 1997
4
<PAGE> 1
EXHIBIT 21
MONTHLY CERTIFICATEHOLDERS' STATEMENT
Discover Card Trust 1991 F
--------------------------------------------
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 December 22, 1997, and with respect to the
performance of the Trust during the Due Period ended in November 30, 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. 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 Certificateholders on
December 22, 1997, per $1,000 interest ..................... $ 0.000000000
2. The total amount of the distribution to Class B Certificateholders on
December 22, 1997, 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 ...........................................$ 7,785,895.08
(b) The aggregate amount of Principal Collections processed during the related
Due Period ..................................................$ 71,873,263.93
(c) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Investor
Certificates .................................................$ 6,420,249.08
(d) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Investor Certificates
.............................................................$ 59,266,693.43
(e) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Class A
Certificates .................................................$ 5,836,306.95
(f) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Class A Certificates
.............................................................$ 53,876,198.64
(g) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Class B
Certificates ...................................................$ 583,942.13
(h) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Class B Certificates
..............................................................$ 5,390,494.79
(i) The aggregate amount of Finance Charge Collections processed during the
related Due Period which was allocated in respect of the Seller Certificate
..............................................................$ 1,365,646.00
(j) The aggregate amount of Principal Collections processed during the related
Due Period which was allocated in respect of the Seller Certificate
.............................................................$ 12,606,570.50
<PAGE> 3
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 November 30, 1997 (which reflects the Principal
Receivables represented by the Seller Certificate and the Investor
Certificates) ..............................................$ 548,556,158.24
(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 November
30, 1997 .................................................. $ 366,666,666.66
(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 November
30, 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 ...................... 74.13%
(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 ............................................................... 66.84%
(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 .................................................................7.29%
(g) The Aggregate Invested Amount as of the end of the current Distribution Date
........................................................... $ 440,000,000.00
(h) The Invested Amount as of the end of the current Distribution Date with
respect to the Class A Certificates ........................$ 400,000,000.00
(i) The Invested Amount as of the end of the current Distribution Date with
respect to the Class B Certificates .........................$ 40,000,000.00
(j) The total amount to be deposited into the Principal Funding Account in
respect of Principal Collections on such Distribution Date
............................................................ $ 33,333,333.34
(k) The amount of the deposit referred to in paragraph 2(j) which was allocated
in respect of the Class A Certificates ......................$ 33,333,333.34
<PAGE> 4
(l) The amount of the deposit referred to in paragraph 2(j) into the Principal
Funding Account on such Distribution 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) ..............................................$ 33,333,333.34
(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) .........$ 33,333,333.34
(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
..................................................................... $ 0.00
(q) The total amount of Investment Income since the last Distribution Date in
respect of the Class A Certificates ................................. $ 0.00
(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 ....$ 2,895,000.00
(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
..............................................................$ 2,616,666.67
(c) The amount of Certificate Interest to be deposited into the Interest Funding
Account on such Distribtion Date in respect of the Class B Certificates
................................................................$ 278,333.33
<PAGE> 5
(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).........................$ 2,895,000.00
(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)
..............................................................$ 2,616,666.67
(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)
............................................................... $ 278,333.33
4. Investor Charged-Off Amount.
- -------------------------------
(a) The aggregate amount of Receivables charged-off as uncollectible during
the Due Period ended in November 30, 1997 allocable to the Investor
Certificates (the "Investor Charged-Off Amount") ............. $2,207,264.21
(b) The aggregate amount of Receivables charged-off as Uncollectible during
the Due Period ended in November 30, 1997 allocable to the Class A
Certificates (the "Class A Charged-Off Amount") .............. $2,006,506.49
(c) The sum of (i) the aggregate amount of Receivables charged-off as
uncollectible during the Due Period ended in November 30, 1997 allocable to
the Class B Certficates 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") $ 1,862,224.92
(d) The Cumulative Class A Charged-Off Amount on .......December 22, 1997 ......
......................................................................$ 0.00
(e) The Cumulative Class B Charged-Off Amount on .......December 22, 1997 ......
..................................................................... $ 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 November 30, 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 November 30, 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
(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 December 22, 1997 ......................................$ 0.00
(j) The aggregate amount of Class B Investor Losses in the Trust as of the end
of the day on December 22, 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
<PAGE> 7
(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.
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(a) The amount of the Class A Monthly Servicing Fee payable by the Trust to the
Servicer for the month of November 30, 1997 ....................$ 666,703.87
(b) The amount of the Class B Monthly Servicing Fee payable by the Trust to the
Servicer for the month of November 30, 1997 .....................$ 66,705.96
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 December 22, 1997
.............................................................$ 40,000,000.00
(b) The amount set forth in paragraph 7(a) above as a percentage of the Class A
Interest............................................................. 10.91%
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 December 22, 1997 .............................$ 30,800,000.00
(b) The amount set forth in paragraph 8 above as a percentage of the Class B
Interest. ........................................................... 77.00%
9. The Pool Factor.
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The Pool Factor represents the ratio of the amount of the Class A Invested
amount as of the end of the day on December 22, 1997 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
<PAGE> 8
The Pool Factor represents the ratio of the amount of the Class B Invested
amount as of the end of the day on December 22, 1997 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 ........................... $ 9,775,511.21
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 ...........................$ 17,977,073.10
Greenwood Trust Company as Servicer
By: [SIG]
--------------------------------
Title: Vice President, Director of
Accounting and Treasurer
<PAGE> 9
MONTHLY SERVICER CERTIFICATE
DISCOVER CARD TRUST 1991 F
--------------------------
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 .. .................................. $79,659,159.01
4. The aggregate amount of Class A Principal Collections processed by the
Servicer during the related Due Period is equal to ...... $53,876,198.64
5. The aggregate amount of the Class A Finance Charge Collections processed
by the Servicer during the related Due Period is equal
to ...................................................... $5,836,306.95
6. The sum of all amounts payable to the Class A Certificateholders 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 ........$5,390,494.79
8. The aggregate amount of the Class B Finance Charge Collections processed
by the Servicer during the related Due Period is equal to .. $583,942.13
<PAGE> 10
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 ........................... $ 0.00
11. The total amount to be deposited in the Principal Funding Account on the
related Distribution Date is equal to ................... $33,333,333.34
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 ...................................................... $33,333,333.34
13. The total amount to be deposited in the Interest Funding Account on the
related Distribution Date is equal to .................... $2,895,000.00
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 ....................................................... $2,895,000.00
15. The Invested Amount as of the end of the current Distribution
Date.................................................... $440,000,000.00
(a) for the Class A Certificateholders will be equal
to ................................................. $400,000,000.00
(b) for the Class B Certificateholders will be equal
to................................................... $40,000,000.00
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 December 22, 1997
GREENWOOD TRUST COMPANY, as Servicer
By: [SIG]
------------------------------
Title: Vice President, Director of
Accounting and Treasurer
<PAGE> 11
Greenwood Trust Company
Cash Collateral Account
Monthly Portfolio Status Report
Discover Card Trust 1991 F
Due Period Ending: 11/30/97
<TABLE>
<CAPTION>
PORTFOLIO STATUS LOSSES & DELINQUENCIES
# of Accounts Dollars
<S> <C> <C>
Ending Total Outstanding 650,135 556,407,048.91
Total Principal Outstanding n/a 548,556,158.24
Total Finance Charge Outstanding n/a 7,850,890.67
Aggregate Invested Amount n/a 440,000,000.00
Aggregate Investor Interest n/a 406,666,666.66
Delinquencies (90 days or greater) 3,415 11,761,751.50
% of Ending Total Outstanding n/a 2.113875%
Investor Net Charge Offs n/a 2,207,264.21
Annualized % of Investor Interest n/a 6.019811%
Monthly Principal Payment Rate n/a 14.573777%
<CAPTION>
PAYMENTS & YIELD
<S> <C>
Principal Payments
(Allocable to Investor Interest) 59,266,693.43
Finance Charges, Annual Fees & Late Fees
(Allocable to Investor Interest) 6,420,249.08
Annualized Gross Yield to Investor 17.509770%
(Annualized % of Invested Amount)
</TABLE>
