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<PAGE> 1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
FORM 8-K/A
Current Report
THIS AMENDMENT IS BEING FILED TO REVISE GROSS YIELD AND NET CHARGE OFF NUMBERS
FOR THE TRUST DUE TO CHANGE IN RECOVERIES
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: November 29, 1999
-----------------
CAPITAL ONE MASTER TRUST
CAPITAL ONE BANK
(Exact name of registrant as specified in its charter)
Virginia 0-25762 54-1719855
-------- ------- ----------
(State or other jurisdiction of (Commission (IRS Employer
incorporation) File Number) Identification No.)
11013 West Broad Street Road, Glen Allen, Virginia 23060
- -------------------------------------------------- -----
(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code):
(804) 967-1000
(Former name or former address, if changed since last report):
Not Applicable
Page 1 of 38
<PAGE> 2
ITEM 5. OTHER EVENTS
The October 1999 monthly Certificateholder's Statements to
investors were distributed November 15, 1999.
<TABLE>
<CAPTION>
ITEM 7 (c). EXHIBITS
--------
<S> <C>
The following are filed as exhibits to this Report under
Exhibit 20:
1. October Performance Summary
2. Series 1995-1 Class A and Class B Certificateholder's Statements
for the month of October 1999.
3. Series 1995-3 Class A and Class B Certificateholder's Statements
for the month of October 1999.
4. Series 1996-1 Class A and Class B Certificateholder's Statements
for the month of October 1999.
5. Series 1996-2 Class A and Class B Certificateholder's Statements
for the month of October 1999.
6. Series 1996-3 Class A and Class B Certificateholder's Statements
for the month of October 1999.
7. Series 1997-1 Class A and Class B Certificateholder's Statements
for the month of October 1999.
8. Series 1997-2 Class A and Class B Certificateholder's Statements
for the month of October 1999.
9. Series 1998-1 Class A and Class B Certificateholder's Statements
for the month of October 1999.
10. Series 1998-3 Class A and Class B Certificateholder's Statements
for the month of October 1999.
11. Series 1998-4 Class A and Class B Certificateholder's Statements
for the month of October 1999.
12. Series 1999-1 Class A and Class B Certificateholder's Statements
for the month of October 1999
13. Series 1999-2 Class A and Class B Certificateholder's Statements
for the month of October 1999
14. Series 1999-3 Class A and Class B Certificateholder's Statements
for the month of October 1999
15. Trust Excess Spread Analysis
</TABLE>
Page 2 of 38
<PAGE> 3
SIGNATURE
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 there-unto duly authorized.
CAPITAL ONE MASTER TRUST
By: CAPITAL ONE BANK
Servicer
By: /s/ David M. Willey
----------------------------
David M. Willey
Senior Vice President and
Treasurer
Date: November 29, 1999
Page 3 of 38
<PAGE> 4
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
---------------
EXHIBITS
TO
FORM 8-K/A
CAPITAL ONE MASTER TRUST
CAPITAL ONE BANK
(Exact name of registrant as specified in its charter)
Page 4 of 38
<PAGE> 5
INDEX TO EXHIBITS
<TABLE>
<CAPTION>
SEQUENTIALLY
EXHIBIT NUMBERED
NUMBER EXHIBITS PAGE
- ------ -------- ----
<S> <C> <C>
1 October Performance Summary 07
2 Series 1995-1 Class A and Class B Certificate-
holder's Statements for the month of October 1999 09
3 Series 1995-3 Class A and Class B Certificate-
holder's Statements for the month of October 1999 11
4 Series 1996-1 Class A and Class B Certificate-
holder's Statements for the month of October 1999 13
5 Series 1996-2 Class A and Class B Certificate-
holder's Statements for the month of October 1999 15
6 Series 1996-3 Class A and Class B Certificate-
holder's Statements for the month of October 1999 17
7 Series 1997-1 Class A and Class B Certificate-
holder's Statements for the month of October 1999 19
8 Series 1997-2 Class A and Class B Certificate-
holder's Statements for the month of October 1999 21
9 Series 1998-1 Class A and Class B Certificate-
holder's Statements for the month of October 1999 24
10 Series 1998-3 Class A and Class B Certificate-
holder's Statements for the month of October 1999 27
11 Series 1998-4 Class A and Class B Certificate-
holder's Statements for the month of October 1999 30
12 Series 1999-1 Class A and Class B Certificate-
holder's Statements for the month of October 1999 32
13 Series 1999-2 Class A and Class B Certificate-
holder's Statements for the month of October 1999 34
14 Series 1999-3 Class A and Class B Certificate-
</TABLE>
Page 5 of 38
<PAGE> 6
<TABLE>
<S> <C> <C>
holder's Statements for the month of October 1999 36
15 Trust Excess Spread Analysis 38
</TABLE>
Page 6 of 38
<PAGE> 1
CAPITAL ONE MASTER TRUST (RECEIVABLES)
MONTHLY PERIOD : OCTOBER 1999
<TABLE>
<S> <C>
Beginning of the Month Principal Receivables : 10,665,942,752.17
----------------------
Beginning of the Month Finance Charge Receivables : 368,550,549.32
----------------------
Beginning of the Month Discounted Receivables : 0.00
----------------------
Beginning of the Month Total Receivables : 11,034,493,301.49
----------------------
Removed Principal Receivables : 0.00
----------------------
Removed Finance Charge Receivables : 0.00
----------------------
Removed Total Receivables : 0.00
----------------------
Additional Principal Receivables : 0.00
----------------------
Additional Finance Charge Receivables : 0.00
----------------------
Additional Total Receivables : 0.00
----------------------
Discounted Receivables Generated this Period 0.00
----------------------
End of the Month Principal Receivables : 10,398,868,020.08
----------------------
End of the Month Finance Charge Receivables : 365,031,002.79
----------------------
End of the Month Discounted Receivables : 0.00
----------------------
End of the Month Total Receivables : 10,763,899,022.87
----------------------
Excess Funding Account Balance 0.00
----------------------
Adjusted Invested Amount of all Master Trust Series 9,633,561,473.00
----------------------
End of the Month Seller Percentage 7.36%
----------------------
</TABLE>
<TABLE>
<CAPTION>
CAPITAL ONE MASTER TRUST (DELINQUENCIES AND LOSSES)
MONTHLY PERIOD : OCTOBER 1999 ACCOUNTS RECEIVABLES
-------- -----------
<S> <C> <C>
End of the Month Delinquencies :
30 - 59 Days Delinquent 167,273.00 194,096,370.92
------------------- ----------------------
60 - 89 Days Delinquent 95,291.00 123,838,177.81
------------------- ----------------------
90 + Days Delinquent 173,476.00 232,345,268.04
------------------- ----------------------
Total 30 + Days Delinquent 436,040.00 550,279,816.77
------------------- ----------------------
Delinquencies 30 + Days as a Percent of End of the Month Total
Receivables 5.11%
----------------------
Defaulted Accounts During the Month 54,059.00 49,403,797.30
------------------- ----------------------
Annualized Default Rate as a Percent of Beginning of the Month
Principal Receivables 5.56%
----------------------
</TABLE>
Page 7 of 38
<PAGE> 2
<TABLE>
<CAPTION>
CAPITAL ONE MASTER TRUST (COLLECTIONS)
MONTHLY PERIOD : OCTOBER 1999 COLLECTIONS PERCENTAGES
----------- -----------
<S> <C> <C>
Total Collections and Gross Payment Rate 1,573,028,007.16 14.26%
------------------- ----------------------
Collections of Principal Receivables and Principal Payment Rate 1,351,781,186.80 12.67%
------------------- ----------------------
Prior Month Billed Finance Charge and Fees 179,360,032.54
-------------------
Amortized AMF Income 13,312,766.10
-------------------
Interchange Collected 16,224,555.66
-------------------
Recoveries of Charged Off Accounts 15,004,677.05
-------------------
Collections of Discounted Receivables 0.00
-------------------
Collections of Finance Charge Receivables and Annualized Yield 223,902,031.35 25.19%
------------------- ----------------------
CAPITAL ONE MASTER TRUST (AMF COLLECTIONS)
MONTHLY PERIOD : OCTOBER 1999
Beginning Unamortized AMF Balance 69,008,957.08
----------------------
+ AMF Slug for Added Accounts 0.00
-------------------
+ AMF Collections 10,657,555.11
-------------------
- - Amortized AMF Income 13,312,766.10
-------------------
Ending Unamortized AMF Balance 66,353,746.09
----------------------
CAPITAL ONE MASTER TRUST (DISCOUNTED RECEIVABLES)
MONTHLY PERIOD : OCTOBER 1999
Gross Principal Payment Rate 12.67%
-------------------
May 17, 1994 3% Discount of Addition 50,184,973.92
----------------------
Total Discounted Receivables Collections as of Beginning of Month 50,184,973.92
-------------------
Collections of Discounted Receivables Current Month 0.00
-------------------
Discounted Receivables to be Collected 0.00
----------------------
</TABLE>
/s/ Charles Kim
------------------------------
Charles Kim
Securitization Manager
Page 8 of 38
<PAGE> 1
CAPITAL ONE MASTER TRUST
TRUST EXCESS SPREAD ANALYSIS - OCTOBER-99
<TABLE>
<CAPTION>
Card Trust COMT 95-1 COMT 95-3 COMT 96-1*
Deal Size $900MM $1050MM $845MM
Expected Maturity(Class A): 6/15/00 8/15/00 8/15/01
(NON-US
TRANSACTION)
- ---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Excess Spread:
Portfolio Yield 23.51% 23.51% 23.51%
LESS: (Wt Avg) Coupon 5.57% 5.53% 5.55%
SVC Fees 2.00% 2.00% 1.50%
Charge-Offs 3.87% 3.87% 3.87%
Excess Spread: Oct-99 12.07% 12.11% 12.59%
Sep-99 11.76% 11.80% 12.26%
Aug-99 10.93% 10.97% 11.35%
3-Mo Avg Excess Spread 11.59% 11.63% 12.07%
- ---------------------------------------------------------------------------------------------------------------------
Delinquents: 30 to 59 days 1.80% 1.80% 1.80%
60 to 89 days 1.15% 1.15% 1.15%
90+ days 2.16% 2.16% 2.16%
Monthly Payment Rate 14.23% 14.23% 14.23%
</TABLE>
<TABLE>
<CAPTION>
Card Trust COMT 96-2 COMT 96-3 COMT 97-1*
Deal Size $750MM $500MM $608MM
Expected Maturity(Class A): 12/15/01 1/15/04 6/15/02
(NON-US
TRANSACTION)
- -----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Excess Spread:
Portfolio Yield 23.51% 23.51% 23.51%
LESS: (Wt Avg) Coupon 5.50% 5.54% 5.48%
SVC Fees 1.50% 1.50% 1.50%
Charge-Offs 3.87% 3.87% 3.87%
Excess Spread: Oct-99 12.64% 12.60% 12.66%
Sep-99 12.33% 12.30% 12.33%
Aug-99 11.50% 11.47% 11.70%
3-Mo Avg Excess Spread 12.16% 12.12% 12.23%
- -----------------------------------------------------------------------------------------------------------------------
Delinquents: 30 to 59 days 1.80% 1.80% 1.80%
60 to 89 days 1.15% 1.15% 1.15%
90+ days 2.16% 2.16% 2.16%
Monthly Payment Rate 14.23% 14.23% 14.23%
</TABLE>
<TABLE>
<CAPTION>
Card Trust COMT 97-2* COMT 98-1 COMT 98-3* COMT 98-4
Deal Size $502MM $591MM $464MM $750MM
Expected Maturity(Class A): 8/15/02 4/15/08 8/16/2001 11/15/2003
(NON-US (NON-US
TRANSACTION) TRANSACTION)
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Excess Spread:
Portfolio Yield 23.51% 23.51% 23.51% 23.51%
LESS: (Wt Avg) Coupon 5.50% 6.33% 6.04% 5.61%
SVC Fees 1.50% 1.50% 1.50% 1.50%
Charge-Offs 3.87% 3.87% 3.87% 3.87%
Excess Spread: Oct-99 12.64% 11.81% 12.10% 12.53%
Sep-99 12.31% 11.55% 12.03% 12.30%
Aug-99 11.39% 10.62% 11.11% 11.37%
3-Mo Avg Excess Spread 12.11% 11.33% 11.75% 12.07%
- ----------------------------------------------------------------------------------------------------------------------
Delinquents: 30 to 59 days 1.80% 1.80% 1.80% 1.80%
60 to 89 days 1.15% 1.15% 1.15% 1.15%
90+ days 2.16% 2.16% 2.16% 2.16%
Monthly Payment Rate 14.23% 14.23% 14.23% 14.23%
</TABLE>
<TABLE>
<CAPTION>
Card Trust COMT 99-1 COMT 99-2 COMT 99-3
Deal Size $625MM $625MM $500MM
Expected Maturity(Class A): 5/15/2004 5/15/2002 7/15/2006
- -------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Excess Spread:
Portfolio Yield 23.51% 23.51% 23.51%
LESS: (Wt Avg) Coupon 5.59% 5.53% 5.75%
SVC Fees 1.50% 1.50% 1.50%
Charge-Offs 3.87% 3.87% 3.87%
Excess Spread: Oct-99 12.55% 12.61% 12.39%
Sep-99 11.72% 11.80% 11.55%
Aug-99 10.88% 10.97% 10.72%
3-Mo Avg Excess Spread 11.72% 11.79% 11.55%
- -------------------------------------------------------------------------------------------------------
Delinquents: 30 to 59 days 1.80% 1.80% 1.80%
60 to 89 days 1.15% 1.15% 1.15%
90+ days 2.16% 2.16% 2.16%
Monthly Payment Rate 14.23% 14.23% 14.23%
</TABLE>
* This material is for informational purposes only and is not an offer of
securities for sale in the United States. These securities will not be and have
not been registered under the Securities Act of 1933 and may not be offered or
sold in the United States absent registration or an applicable exemption from
the registration requirements.
COMMENTS:
Capital One Master Trust performance statistics are also available at the
Capital One web site: http://www.capitalone.com (Under "For Investors" section)
Page 38 of 38
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