<PAGE> 1
UNITED STATES
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): January 2, 2001
---------------
Discover Card Master Trust I
--------------------------------------------------
(Exact name of registrant as specified in charter)
Delaware 0-23108 51-0020270
-------- ------- ----------
(State of (Commission (IRS Employer
Organization) File Number) Identification No.)
c/o Discover Bank
12 Read's Way
New Castle, Delaware 19720
---------------------------------------------- -----
(Address of principal executive offices) (Zip Code)
Registrant's Telephone Number, including area code: (302) 323-7184
--------------
Former name or former address, if changed since last report: Not Applicable
<PAGE> 2
Item 5. Other Events
On December 28, 2000, the registrant made available to investors
a prospectus supplement, dated December 21, 2000, and prospectus, dated December
21, 2000, with respect to the issuance of $1,200,000,000 aggregate principal
amount of Series 2001-1 Floating Rate Class A Credit Card Pass-Through
Certificates and $63,158,000 aggregate principal amount of Series 2001-1
Floating Rate Class B Credit Card Pass-Through Certificates of Discover Card
Master Trust I (the "Trust"), pursuant to the Pooling and Servicing Agreement,
dated as of October 1, 1993, between Discover Bank (formerly Greenwood Trust
Company) ("Discover") as Master Servicer, Servicer and Seller and U.S. Bank
National Association (formerly First Bank National Association, successor
trustee to Bank of America Illinois, formerly Continental Bank, National
Association) as Trustee, as amended, and the Series Supplement for Series
2001-1, to be dated as of January 4, 2001, between Discover Bank as Master
Servicer, Servicer and Seller and U.S. Bank National Association as Trustee.
In connection with the issuance of Series 2001-1, Latham &
Watkins, counsel to Discover and the Trust, has delivered (i) an opinion to
Discover (as originator of the Trust), dated January 2, 2001, regarding the
legality of the Series 2001-1 Floating Rate Class A Credit Card Pass-Through
Certificates and the Series 2001-1 Floating Rate Class B Credit Card
Pass-Through Certificates upon issuance and sale thereof on January 4, 2001; and
(ii) an opinion to Discover (as originator of the Trust), dated January 2, 2001,
as to certain federal tax matters concerning the Series 2001-1 Floating Rate
Class A Credit Card Pass-Through Certificates and the Series 2001-1 Floating
Rate Class B Credit Card Pass-Through Certificates. A copy of the opinion as to
legality is attached as Exhibit 5, and the opinion as to certain tax matters is
attached as Exhibit 8.
Item 7. Exhibits
Exhibit No. Description
----------- -----------
Exhibit 5 Opinion of Latham & Watkins.
Exhibit 8 Opinion of Latham & Watkins as to certain federal tax matters
concerning the Class A Certificates and Class B Certificates of
Series 2001-1.
Exhibit 23 Consent of Latham & Watkins (included in Exhibit 5).
PAGE 2
<PAGE> 3
SIGNATURES
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 thereunto duly authorized.
Discover Card Master Trust I
(Registrant)
By: Discover Bank
(Originator of the Trust)
Date: January 2, 2001 By: /s/ Michael Rickert
Michael F. Rickert
Vice President, Chief Accounting
Officer and Treasurer
PAGE 3
<PAGE> 4
INDEX TO EXHIBITS
Exhibit No. Description
----------- -----------
Exhibit 5 Opinion of Latham & Watkins.
Exhibit 8 Opinion of Latham & Watkins as to certain federal tax matters
concerning the Class A Certificates and Class B Certificates
of Series 2001-1.
Exhibit 23 Consent of Latham & Watkins (included in Exhibit 5).
PAGE 4
