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Previous: FALCON DRILLING CO INC, 8-K, 1997-06-25 |
Next: PREFERRED NETWORKS INC, SC 13D/A, 1997-06-25 |
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 of the
Securities Exchange Act of 1934
Date of Report
(Date of earliest event reported): June 16, 1997
PRIME RECEIVABLES CORPORATION
(Originator of the Prime Credit Card Master Trust)
9111 Duke Boulevard
Mason, Ohio 45040-8999
(513) 573-2037
Delaware 31-1359594 0-21118
(State of Incorporation) (IRS I.D. No.) (Commission File Number)
______________________________________________________________________________
Item 5. Other Events.
NONE
Item 7. Financial Statements, Pro Forma Financial Information, and
Exhibits.
The following Exhibits are filed with this Report:
28.73 Settlement Statement of the Trust
for the period ended May 31, 1997
and the related distributions made
on June 16, 1997.
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
PRIME RECEIVABLES CORPORATION
Date: June 25, 1997 By: /s/ David W. Dawson
David W. Dawson,
Treasurer
INDEX TO EXHIBITS
Exhibit Sequentially
Number Exhibit Numbered Page
28.73 Settlement Statement of the Trust
for the period ended May 31, 1997
and the related distributions made
on June 16, 1997.
Prime Credit Card Master Trust 24-Jun-97
01:35 PM
Settlement Statement
- ----------------
Distribution Date: 16-Jun-97
Monthly Period May 1997
04-May-97
31-May-97
(i) Collections 364,708,732
Finance Charge 41,752,840
Principal 322,955,891
(ii) Investor Percentage - Principal Collections 31-May-97
Series 1992-1 24.39%
A 20.12%
B 1.81%
C 2.46%
Series 1992-2 24.39%
A 20.12%
B 1.81%
C 2.46%
Series 1992-3 0.00%
A 0.00%
B 0.00%
Series 1995-1 29.06%
A 24.41%
B 2.32%
C 2.32%
Series 1996-1 11.61%
A 9.75%
B 0.93%
C 0.93%
(iii) Investor Percentage - Finance Charge Collections,
Receivables in Defaulted Accounts 31-May-97
Series 1992-1 24.39%
A 20.12%
B 1.81%
C 2.46%
Series 1992-2 24.39%
A 20.12%
B 1.81%
C 2.46%
Series 1992-3 0.00%
A 0.00%
B 0.00%
Series 1995-1 29.06%
A 24.41%
B 2.32%
C 2.32%
Series 1996-1 11.61%
A 9.75%
B 0.93%
C 0.93%
(iv) Distribution Amount per $1,000 16-Jun-97
Series 1992-1 5.892
A 5.875
B 6.292
C 5.666
Series 1992-2 6.201
A 6.208
B 6.625
C 5.666
Series 1992-3 0.00
A 0.00
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,116,717.59
Series 1992-2 3,280,217.59
Series 1992-3 0.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 16-Jun-97
Series 1992-1 0.000
A 0.000
B 0.000
C 0.000
Series 1992-2 0.000
A 0.000
B 0.000
C 0.000
Series 1992-3 0.00
A 0.00
B 0.000
Series 1995-1 0.000
A 0.000
B 0.000
C 0.000
Series 1996-1 0.000
A 0.000
B 0.000
C 0.000
Total $'s Distributed 0.00
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 0.00
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 16-Jun-97
Series 1992-1 5.892
A 5.875
B 6.292
C 5.666
Series 1992-2 6.201
A 6.208
B 6.625
C 5.666
Series 1992-3 0.000
A 0.000
B 0.000
Series 1995-1 5.636
A 5.625
B 5.750
C 0.000
Series 1996-1 5.594
A 5.583
B 5.708
C 0.000
Total $'s Distributed
Series 1992-1 3,116,717.59
Series 1992-2 3,280,217.59
Series 1992-3 0.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 4,473,561.54
A 3,690,380.74
B 332,134.27
C 451,046.53
Series 1992-2 4,473,561.54
A 3,690,380.74
B 332,134.27
C 451,046.53
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 5,330,546.97
A 4,477,659.45
B 426,443.76
C 426,443.76
Series 1996-1 2,128,939.61
A 1,787,784.42
B 170,577.60
C 170,577.60
(viii) Investor Charge Offs
Charge Offs Reimbursements
Series 1992-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-2 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1992-3 0.00 0.00
A 0.00 0.00
B 0.00 0.00
Series 1995-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
Series 1996-1 0.00 0.00
A 0.00 0.00
B 0.00 0.00
C 0.00 0.00
(ix) Servicing Fee
Series 1992-1 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 750,000.00
B 67,500.00
C 91,666.67
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 1,083,333.33
A 910,000.00
B 86,666.67
C 86,666.67
Series 1996-1 432,666.67
A 363,333.34
B 34,666.67
C 34,666.67
(x) Deficit Controlled Amortization Amount
Series 1992-1 0.00
A 0.00
B 0.00
C 0.00
Series 1992-2 0.00
A 0.00
B 0.00
C 0.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 0.00
A 0.00
B 0.00
C 0.00
Series 1996-1 0.00
A 0.00
B 0.00
C 0.00
(xi) Receivables in Trust 31-May-97 2,313,029,228
Principal Receivables in Trust 2,232,535,811
(xii) Invested Amount 31-May-97
Series 1992-1 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-2 545,500,000.00
A 450,000,000.00
B 40,500,000.00
C 55,000,000.00
Series 1992-3 0.00
A 0.00
B 0.00
Series 1995-1 650,000,000.00
A 546,000,000.00
B 52,000,000.00
C 52,000,000.00
Series 1996-1 259,600,000.00
A 218,000,000.00
B 20,800,000.00
C 20,800,000.00
(xiii) Enhancement NA
(xiv) Pool Factor
Series 1992-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1992-2 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1995-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
Series 1996-1 1.0000000
A 1.0000000
B 1.0000000
C 1.0000000
(xv) Yield Factor 11.105%
Finance Charge Receivables Factor 3.48%
(xvi) Payout Event
Series 1992-1 NO
Series 1992-2 NO
Series 1992-3 NO
Series 1995-1 NO
Series 1996-1 NO
(xvii) Other
Delinquency
Current 79.1% $1,782,316,608
30 days 12.7% 285,635,716
60 days 3.0% 67,717,781
90 days 1.6% 36,264,865
120 days 1.2% 27,592,271
150 days 1.1% 24,230,905
180 days+ 1.3% 30,263,847
Total 100.000% $2,254,021,993
Balance in Pre-Funding Account 0.00
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