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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): October 15, 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.
On September 2, 1997, the Registrant repurchased from
the holder thereof, Corporate Receivables Corporation,
the following certificates: (i) $55.0 million aggregate
principal amount of 8.05% Class C-1 Asset Backed
Certificates, Series 1992-1, and (ii) $55.0 million
aggregate principal amount of 8.45% Class C-2 Asset
Backed Certificates, Series 1992-2.
Item 7.
Financial Statements, Pro Forma Financial Information, and
Exhibits.
The following Exhibits are filed with this Report:
28.77 Settlement Statement of the Trust
for the period ended October 4, 1997
and the related distributions made
on October 15, 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: October 24, 1997 By: /s/ David W. Dawson
David W. Dawson,
Treasurer
INDEX TO EXHIBITS
Exhibit Sequentially
Number Exhibit Numbered Page
28.77 Settlement Statement of the Trust
for the period ended October 4, 1997
and the related distributions made
on October 15, 1997.
Exhibit 28.77
Settlement Statement of the Trust for the Period
Ending October 4, 1997 and the Related
Distributions made on October 15, 1997.
20-Oct-97
10:08 AM
Settlement Statement
- -----------------------
Distribution Date: 15-Oct-97
Monthly Period: September 1997
31-Aug-97
04-Oct-97
(i) Collections 432,962,445
Finance Charge 51,415,557
Principal 381,546,888
(ii) Investor Percentage - Principal Collections 04-Oct-97
Series 1992-1 25.31%
A 20.88%
B 1.88%
C 2.55%
Series 1992-2 25.31%
A 20.88%
B 1.88%
C 2.55%
Series 1992-3 1.69%
A 1.39%
B 0.30%
Series 1995-1 30.16%
A 25.33%
B 2.41%
C 2.41%
Series 1996-1 12.04%
A 10.11%
B 0.97%
C 0.97%
(iii) Investor Percentage - Finance Charge Collections, Receivables
in Defaulted Accounts 04-Oct-97
Series 1992-1 18.35%
A 13.92%
B 1.88%
C 2.55%
Series 1992-2 25.31%
A 20.88%
B 1.88%
C 2.55%
Series 1992-3 1.69%
A 1.39%
B 0.30%
Series 1995-1 30.16%
A 25.33%
B 2.41%
C 2.41%
Series 1996-1 12.04%
A 10.11%
B 0.97%
C 0.97%
(iv) Distribution Amount per $1,000 15-Oct-97
Series 1992-1 5.909
A 5.875
B 6.292
C 0.000
Series 1992-2 6.243
A 6.208
B 6.625
C 0.000
Series 1992-3 825.198
A 1,000.240
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 2,898,562.50
Series 1992-2 3,062,062.50
Series 1992-3 80,026,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 15-Oct-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 1992-3 825.00
A 1,000.00
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 80,006,799.22
Series 1992-1 0.00
Series 1992-2 0.00
Series 1992-3 80,006,799.22
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 15-Oct-97
Series 1992-1 5.909
A 5.875
B 6.292
C 0.000
Series 1992-2 6.243
A 6.208
B 6.625
C 0.000
Series 1992-3 0.198
A 0.240
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 2,898,562.50
Series 1992-2 3,062,062.50
Series 1992-3 19,200.78
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 4,221,963.13
A 3,202,500.48
B 432,337.56
C 587,125.09
Series 1992-2 5,776,206.10
A 4,764,972.95
B 428,847.57
C 582,385.58
Series 1992-3 42,201.06
A 34,815.87
B 7,385.19
Series 1995-1 6,882,738.72
A 5,781,500.52
B 550,619.10
C 550,619.10
Series 1996-1 2,748,859.95
A 2,308,364.67
B 220,247.64
C 220,247.64
(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 8,966.71
A 7,397.54
B 1,569.17
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 04-Oct-97 2,236,522,735.13
Principal Receivables in Trust 2,151,758,523.47
(xii) Invested Amount 04-Oct-97
Series 1992-1 395,500,000.00
A 300,000,000.00
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 36,376,717.48
A 30,010,791.92
B 6,365,925.56
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 11.584%
Finance Charge Receivables Factor 3.79%
(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 79.3% $1,738,696,328
30 days 12.1% 266,106,900
60 days 3.1% 67,226,900
90 days 1.7% 36,609,276
120 days 1.2% 27,275,862
150 days 1.1% 24,953,631
180 days+ 1.5% 31,946,414
Total 100.000% $2,192,815,311
Balance in Principal-Funding Accou04-Oct-97 $150,000,000
Balance in Excess-Funding Account $0
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