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Previous: RYBACK MANAGEMENT CORP /MO /ADV, SC 13G, 1998-01-26 |
Next: TRO LEARNING INC, SC 13G/A, 1998-01-26 |
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): December 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 December 15, 1997, the Prime Note Series 1992-1a
principal distribution amount of $450,000,000.00,(four
hundred and fifty milllion dollars), was distributed to
the certificate holders.
Item 7.
Financial Statements, Pro Forma Financial Information, and
Exhibits.
The following Exhibits are filed with this Report:
28.80 Settlement Statement of the Trust
for the period ended January 3, 1998
and the related distributions made
on December 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: January 26, 1998 By: /s/ David W. Dawson
David W. Dawson,
Treasurer
INDEX TO EXHIBITS
Exhibit Sequentially
Number Exhibit Numbered Page
28.80 Settlement Statement of the Trust
for the period ended January 3, 1998
and the related distributions made
on December 15, 1997.
Exhibit 28.80
Settlement Statement of the Trust for the Period
Ending January 3, 1998 and the Related
Distributions made on December 15, 1997.
23-Jan-98
10:44 AM
Settlement Statement
- -----------------------
Distribution Date: 15-Jan-98
Monthly Period: December 1997
30-Nov-97
03-Jan-98
(i) Collections 505,024,622
Finance Charge 55,360,021
Principal 449,664,600
(ii) Investor Percentage - Principal Collections 03-Jan-98
Series 1992-1 3.81%
A 0.00%
B 1.62%
C 2.20%
Series 1992-2 21.77%
A 17.96%
B 1.62%
C 2.20%
Series 1992-3 13.53%
A 11.16%
B 2.37%
Series 1995-1 25.94%
A 21.79%
B 2.08%
C 2.08%
Series 1996-1 10.36%
A 8.70%
B 0.83%
C 0.83%
(iii) Investor Percentage - Finance Charge Collections, Receivables
in Defaulted Accounts 03-Jan-98
Series 1992-1 3.81%
A 0.00%
B 1.62%
C 2.20%
Series 1992-2 21.77%
A 17.96%
B 1.62%
C 2.20%
Series 1992-3 13.53%
A 11.16%
B 2.37%
Series 1995-1 25.94%
A 21.79%
B 2.08%
C 2.08%
Series 1996-1 10.36%
A 8.70%
B 0.83%
C 0.83%
(iv) Distribution Amount per $1,000 15-Jan-98
Series 1992-1 1,006.292
A 0.000
B 1,006.292
C 0.000
Series 1992-2 6.243
A 6.208
B 6.625
C 0.000
Series 1992-3 825.261
A 1,000.317
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 40,754,812.50
Series 1992-2 3,062,062.50
Series 1992-3 3,101,095,000.00
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(v) Allocation to Principal per $1,000 15-Jan-98
Series 1992-1 1,000.000
A 0.000
B 1,000.000
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 3,140,613,733.18
Series 1992-1 40,500,000.00
Series 1992-2 0.00
Series 1992-3 3,100,113,733.18
Series 1995-1 0.00
Series 1996-1 0.00
(vi) Allocation to Interest per $1,000 15-Jan-98
Series 1992-1 6.292
A 0.000
B 6.292
C 0.000
Series 1992-2 6.243
A 6.208
B 6.625
C 0.000
Series 1992-3 0.261
A 0.317
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 1992-1 254,812.50
Series 1992-2 3,062,062.50
Series 1992-3 981,266.82
Series 1995-1 3,370,250.00
Series 1996-1 1,335,900.00
(vii) Investor Default Amount
Series 1992-1 889,679.55
A 0.00
B 377,298.66
C 512,380.89
Series 1992-2 5,234,181.93
A 4,317,840.27
B 388,605.62
C 527,736.03
Series 1992-3 2,273,355.43
A 1,875,518.23
B 397,837.20
Series 1995-1 6,236,880.41
A 5,238,979.54
B 498,950.43
C 498,950.43
Series 1996-1 2,490,914.06
A 2,091,753.72
B 199,580.17
C 199,580.17
(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 1992-1 159,166.67
A 0.00
B 67,500.00
C 91,666.67
Series 1992-2 909,166.67
A 0.00
B 67,500.00
C 91,666.67
Series 1992-3 422,819.53
A 348,826.11
B 73,993.42
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 03-Jan-98 2,599,239,579.01
Principal Receivables in Trust 2,500,208,551.05
(xii) Invested Amount 03-Jan-98
Series 1992-1 95,500,000.00
A 0.00
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 1992-3 326,938,745.01
A 269,724,464.63
B 57,214,280.38
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 0.0000000
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 9.828%
Finance Charge Receivables Factor 3.81%
(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 81.4% $1,972,760,116
30 days 11.0% 267,200,094
60 days 2.5% 60,930,436
90 days 1.4% 34,735,457
120 days 1.2% 27,862,076
150 days 1.0% 24,385,399
180 days+ 1.4% 34,493,460
Total 100.000% $2,422,367,038
Balance in Principal Account 03-Jan-98 $40,500,000
Balance in Excess-Funding Account $0
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