===============================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 15, 1999
----------------
FIRST USA BANK, NATIONAL ASSOCIATION
(As Successor to BANK ONE, N.A.)
------------------------------------------------------
(Exact name of registrant as specified in its charter)
(As Servicer on behalf of BANC ONE CREDIT CARD MASTER TRUST)
United States
----------------------------------------------
(State or other jurisdiction of incorporation)
0-25636 51-0269396
------------------------ ------------------------------------
(Commission File Number) (IRS Employer Identification Number)
201 North Walnut Street, Wilmington, Delaware 19801
- ----------------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
(302) 594-4117
--------------------------------------------------
Registrant's telephone number, including area code
===============================================================================
<PAGE>
Item 5. Other Events
On October 15, 1999, the Banc One Credit Card Master Trust (the
"Trust") made a regular monthly distribution of principal and/or
interest to holders of the following Certificates issued by the
Trust, each of which is included in Group One and is a Principal
Sharing Series:
6.15% Class A Asset Backed Certificates, Series 1995-A
6.30% Class B Asset Backed Certificates, Series 1995-A
6.30% Class A Asset Backed Certificates, Series 1995-B
6.45% Class B Asset Backed Certificates, Series 1995-B
Floating Rate Class A Asset Backed Certificates, Series 1996-A
Floating Rate Class B Asset Backed Certificates, Series 1996-A
Asset Backed Certificates, Series 1997-1
Asset Backed Certificates, Series 1997-2
Item 7. Financial Statements and Exhibits
(c) Exhibits.
See page 4 for Exhibit Index.
<PAGE>
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 hereunto duly authorized.
First USA Bank, N.A., as Servicer, on behalf
of BANC ONE CREDIT CARD MASTER TRUST
By: /s/ Tracie H. Klein
--------------------
Name: Tracie H. Klein
Title: First Vice President
Date: October 15, 1999
----------------
<PAGE>
EXHIBIT INDEX
Exhibit Description Page
- ------- ----------- ----
99.1 The Monthly Statements and other information reflecting
the Trust's Activities for the Monthly Period ending
September 30, 1999............................................ 5-16
99.2 Monthly Servicer's Certificates............................... 17-21
Exhibit 99.1
BANC ONE CREDIT CARD MASTER TRUST - SERIES ALLOCATION REPORT
<TABLE>
<S> <C> <C> <C> <C> <C>
Distribution Date of: 15-Oct-99 For the Monthly Period Ending: 30-Sep-99 Days in Interest Period (30/360) 30
Determined as of: 8-Oct-99 Monthly Period 59 Days in Interest Period (Act/360) 30
</TABLE>
<TABLE>
<CAPTION>
Beginning Total Trust Investor Interest Series 1995-A Series 1995-B Series 1996-A
--------- ----------------- ----------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Pool Balance (Principal) 4,279,273,247.51
Finance Charges O/S 147,634,360.04
Excess Funding Account 0.00
Initial Invested Amount 3,860,000,000.00 380,000,000.00 380,000,000.00 500,000,000.00
Invested Amount 3,860,000,000.00 380,000,000.00 380,000,000.00 500,000,000.00
Class A Invested Amount 357,200,000.00 357,200,000.00 465,000,000.00
Class B Invested Amount 22,800,000.00 22,800,000.00 35,000,000.00
Principal Funding Account 0.00 0.00 0.00 0.00
Adjusted Invested Amount 3,860,000,000.00 380,000,000.00 380,000,000.00 500,000,000.00
Class A Adjusted Invested Amt 357,200,000.00 357,200,000.00 465,000,000.00
Class B Adjusted Invested Amt 22,800,000.00 22,800,000.00 35,000,000.00
Enhancement Invested Amount 0.00 0.00 0.00 0.00
Principal Allocation Pct 100.00% 90.20% 8.88% 8.88% 11.68%
Principal Collections 469,127,069.30 423,163,089.33 41,658,542.47 41,658,542.47 54,813,871.67
Floating Allocation Pct 100.00% 90.20% 8.88% 8.88% 11.68%
Finance Charge Collections 71,495,415.39 64,490,460.75 6,348,801.84 6,348,801.84 8,353,686.63
Defaulted Amount 26,149,128.29 23,587,097.47 2,322,045.87 2,322,045.87 3,055,323.51
Interchange Collections 8,413,688.66 7,589,335.00 747,136.61 747,136.61 983,074.48
Servicer Interchange 4,020,833.33 395,833.33 395,833.33 520,833.33
Shared Principal Collections 446,750,186.80 43,980,588.34 43,980,588.34 57,869,195.18
<CAPTION>
Ending Total Trust Investor Interest Series 1995-A Series 1995-B Series 1996-A
------ ----------------- ----------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C>
Pool Balance (Principal) 4,220,556,400.98
Finance Charges O/S 153,293,044.51
Excess Funding Account 0.00
Initial Invested Amount 3,860,000,000.00 380,000,000.00 380,000,000.00 500,000,000.00
Invested Amount 3,860,000,000.00 380,000,000.00 380,000,000.00 500,000,000.00
Class A Invested Amount 357,200,000.00 357,200,000.00 465,000,000.00
Class B Invested Amount 22,800,000.00 22,800,000.00 35,000,000.00
Principal Funding Account 0.00 0.00 0.00 0.00
Adjusted Invested Amount 3,860,000,000.00 380,000,000.00 380,000,000.00 500,000,000.00
Class A Adjusted Invested Amt 357,200,000.00 357,200,000.00 465,000,000.00
Class B Adjusted Invested Amt 22,800,000.00 22,800,000.00 35,000,000.00
Enhancement Invested Amount 0.00 0.00 0.00 0.00
Principal Allocation Pct 100.00% 91.46% 9.00% 9.00% 11.85%
Floating Allocation Pct 100.00% 91.46% 9.00% 9.00% 11.85%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Beginning Series 1997-1 Series 1997-2 Seller Interest
--------- ------------- -------------- ---------------
<S> <C> <C> <C>
Pool Balance (Principal)
Finance Charges O/S
Excess Funding Account
Initial Invested Amount 1,700,000,000.00 900,000,000.00
Invested Amount 1,700,000,000.00 900,000,000.00
Class A Invested Amount 1,700,000,000.00 900,000,000.00
Class B Invested Amount 0.00 0.00
Principal Funding Account 0.00 0.00
Adjusted Invested Amount 1,700,000,000.00 900,000,000.00 419,273,247.51
Class A Adjusted Invested Amt 1,700,000,000.00 900,000,000.00 NA
Class B Adjusted Invested Amt 0.00 0.00 NA
Enhancement Invested Amount 0.00 0.00 NA
Principal Allocation Pct 39.73% 21.03% 9.80%
Principal Collections 186,367,163.69 98,664,969.01 45,963,979.97
Floating Allocation Pct 39.73% 21.03% 9.80%
Finance Charge Collections 28,402,534.53 15,036,635.93 7,004,954.64
Defaulted Amount 10,388,099.92 5,499,582.31 2,562,030.82
Interchange Collections 3,342,453.24 1,769,534.07
Servicer Interchange 1,770,833.33 937,500.00
Shared Principal Collections 196,755,263.62 104,164,551.33
<CAPTION>
Ending Series 1997-1 Series 1997-2 Seller Interest
------ ------------- -------------- ---------------
<S> <C> <C> <C>
Pool Balance (Principal)
Finance Charges O/S
Excess Funding Account
Initial Invested Amount 1,700,000,000.00 900,000,000.00
Invested Amount 1,700,000,000.00 900,000,000.00
Class A Invested Amount 1,700,000,000.00 900,000,000.00
Class B Invested Amount 0.00 0.00
Principal Funding Account 0.00 0.00
Adjusted Invested Amount 1,700,000,000.00 900,000,000.00 360,556,400.98
Class A Adjusted Invested Amt 1,700,000,000.00 900,000,000.00 NA
Class B Adjusted Invested Amt 0.00 0.00 NA
Enhancement Invested Amount 0.00 0.00 NA
Principal Allocation Pct 40.28% 21.32% 8.54%
Floating Allocation Pct 40.28% 21.32% 8.54%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SERIES ALLOCATION REPORT
<TABLE>
<S> <C> <C> <C> <C> <C>
Distribution Date of: 15-Oct-99 For the Monthly Period Ending: 30-Sep-99 Days in Interest Period (30/360) 30
Determined as of: 8-Oct-99 Monthly Period 59 Days in Interest Period (Act/360) 30
</TABLE>
<TABLE>
<CAPTION>
Gross Balances of
Minimum Balance Requirement Accounts Delinquent: (%) ($)
- --------------------------- -------------------- --- ---
<S> <C> <C> <C> <C>
Trust Initial Invested Amount 3,860,000,000.00
Trust PFA 0.00 30 - 59 days 2.20% 96,119,041.46
Ending Portfolio Principal Balance 4,220,556,400.98 60 - 89 days 1.43% 62,378,859.77
90 days + 2.99% 130,921,514.58
Beginning Excess Funding Acct Bal 0.00 Total 30 days + 6.62% 289,419,415.81
Required Excess Funding Account Deposit 0.00
Excess Funding Account Withdrawal 0.00
Seller's Participation Amt (w/o EFA) 360,556,400.98 Gross Credit Losses 8.14% 29,012,338.72
Required Seller's Interest 295,438,948.07 Net Credit Losses 7.33% 26,149,128.29
Required Excess Funding Account Balance 0.00 Discount Option Receivables 0
Seller's Participation Amount 360,556,400.98 Discount Percentage 0.00%
Finance Charge Billed - pool 61,509,526.98
Fraud Losses reassigned to the Seller 0.00 Fees Billed - pool 11,212,677.01
Interest Earned on Collection Account 2,274,317.95
Required Principal Balance 3,860,000,000.00
EFA + Receivables + PFA 4,220,556,400.98
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1995-A
Distribution Date of: 15-Oct-99
Determined as of: 8-Oct-99
For the Monthly Period Ending: 30-Sep-99
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 30
<TABLE>
<CAPTION>
Beginning Ending Change
---------------- ----------------- ---------------
<S> <C> <C> <C>
Pool Balance (Principal) 4,279,273,247.51 4,220,556,400.98 (58,716,846.53)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Invested Amount 22,800,000.00 22,800,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Adjusted Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Adjusted Invested Amount 22,800,000.00 22,800,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 1,900,000.00 1,900,000.00
Available Cash Collateral Amount 38,000,000.00 38,000,000.00 0.00
Available Shared Collateral Amount 34,200,000.00 34,200,000.00 0.00
Spread Account 11,400,000.00 11,400,000.00 0.00
Servicing Base Amount 380,000,000.00 380,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 8.88%
Principal Allocation Pct 8.88%
Class A Floating Pct 94.00%
Class B Floating Pct 6.00%
Class A Principal Pct 94.00%
Class B Principal Pct 6.00%
</TABLE>
<TABLE>
<CAPTION>
Series
Allocations Trust 1995-A Class A Class B
- ----------- -------------- ------------- ------------- ------------
<S> <C> <C> <C> <C>
Principal Collections 469,127,069.30 41,658,542.47 39,159,029.92 2,499,512.55
Finance Charge Collections 71,495,415.39 6,348,801.84 5,967,873.73 380,928.11
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
------------ ------------ ----------
Available Funds 6,348,801.84 5,967,873.73 380,928.11
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 395,833.33 372,083.33 23,750.00
Monthly Interest 1,950,350.00 1,830,650.00 119,700.00
Monthly Servicing Fee 79,166.67 74,416.67 4,750.00
Defaulted Amounts 26,149,128.29 2,322,045.87 2,182,723.11 139,322.75
------------ ------------ ----------
4,747,395.87 4,459,873.11 287,522.75
Excess Spread 1,740,728.72 1,508,000.61 232,728.11
Required Amount 0.00 0.00 0.00
Cash Collateral Account
- -----------------------
Cash Collateral Fee 11,083.33
Risk-Free Fee 2,850.00
Interest on CCA Draw 0.00
Monthly Cash Collateral Fee 13,933.33
</TABLE>
<PAGE>
Cash Collateral Account (continued)
- -----------------------------------
Quarterly Excess Spread Percentage 5.32%
Principal Payment Rate Calculation 11.51%
Calculated Current Month's Spread Account Cap 3.00%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 3.00%
Beginning Cash Collateral Amount 38,000,000.00
Required Cash Collateral Amount 38,000,000.00
Cash Collateral Account Draw 0.00
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 11,400,000.00
Required Spread Account Amount 11,400,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 0.00
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0
Controlled Accumulation Amount 59,533,333.33
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 43,980,588.34
Principal Shortfall 0.00
Shared Principal to Other Series 43,980,588.34
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 357,200,000.00
Ending Class B Invested Amount 22,800,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.96%
Revolving Investor Interest 630,000,000.00
Class A Invested Amount 357,200,000.00
Available Principal 69,065,478.31
Class A Accumulation Period Length 6
Reserve Account
- ---------------
Available Reserve Account Amount 1,900,000.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 16.06%
Reserve Account Factor 50.00%
Portfolio Adjusted Yield 6.76%
Reserve Account Funding Period Length 3
Reserve Account Funding Date 15-Oct-99
Weighted Average Coupon 6.16%
Required Reserve Account Amount 1,900,000.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 1,900,000.00
Portfolio Yield - 3 month average 14.52%
Base Rate - 3 month average 7.66%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 6.86%
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1995-B
Distribution Date of: 15-Oct-99
Determined as of: 8-Oct-99
For the Monthly Period Ending: 30-Sep-99
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 30
<TABLE>
<CAPTION>
Beginning Ending Change
---------------- ---------------- --------------
<S> <C> <C> <C>
Pool Balance (Principal) 4,279,273,247.51 4,220,556,400.98 (58,716,846.53)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Invested Amount 22,800,000.00 22,800,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 380,000,000.00 380,000,000.00 0.00
Class A Adjusted Invested Amount 357,200,000.00 357,200,000.00 0.00
Class B Adjusted Invested Amount 22,800,000.00 22,800,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 0.00 0.00
Available Cash Collateral Amount 38,000,000.00 38,000,000.00 0.00
Available Shared Collateral Amount 34,200,000.00 34,200,000.00 0.00
Spread Account 20,900,000.00 20,900,000.00 0.00
Servicing Base Amount 380,000,000.00 380,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 8.88%
Principal Allocation Pct 8.88%
Class A Floating Pct 94.00%
Class B Floating Pct 6.00%
Class A Principal Pct 94.00%
Class B Principal Pct 6.00%
<CAPTION>
Series
Allocations Trust 1995-B Class A Class B
- ----------- -------------- ------------- ------------- ------------
<S> <C> <C> <C> <C>
Principal Collections 469,127,069.30 41,658,542.47 39,159,029.92 2,499,512.55
Finance Charge Collections 71,495,415.39 6,348,801.84 5,967,873.73 380,928.11
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
------------ ------------ ----------
Available Funds 6,348,801.84 5,967,873.73 380,928.11
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 395,833.33 372,083.33 23,750.00
Monthly Interest 1,997,850.00 1,875,300.00 122,550.00
Monthly Servicing Fee 79,166.67 74,416.67 4,750.00
Defaulted Amounts 26,149,128.29 2,322,045.87 2,182,723.11 139,322.75
------------ ------------ ----------
4,794,895.87 4,504,523.11 290,372.75
Excess Spread 1,693,228.72 1,463,350.61 229,878.11
Required Amount 0.00 0.00 0.00
Cash Collateral Account
- -----------------------
Cash Collateral Fee 9,832.50
Risk-Free Fee 5,573.33
Interest on CCA Draw or Difference between Loan Interest and Deposit Interest 0.00
---------
Monthly Cash Collateral Fee 15,405.83
</TABLE>
<PAGE>
Cash Collateral Account (continued)
- -----------------------------------
Quarterly Excess Spread Percentage 5.17%
Principal Payment Rate Calculation 11.51%
Calculated Current Month's Spread Account Cap 5.50%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 5.50%
Beginning Cash Collateral Amount 38,000,000.00
Required Cash Collateral Amount 38,000,000.00
Cash Collateral Account Draw 0.00
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 20,900,000.00
Required Spread Account Amount 20,900,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 0.00
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0
Controlled Accumulation Amount 59,533,333.33
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 43,980,588.34
Principal Shortfall 0.00
Shared Principal to Other Series 43,980,588.34
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 357,200,000.00
Ending Class B Invested Amount 22,800,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.96%
Revolving Investor Interest 630,000,000.00
Class A Invested Amount 357,200,000.00
Available Principal 69,065,478.31
Class A Accumulation Period Length 6
Reserve Account
- ---------------
Available Reserve Account Amount 0.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 16.06%
Reserve Account Factor 50.00%
Portfolio Adjusted Yield 6.61%
Reserve Account Funding Period Length 3
Reserve Account Funding Date 15-Jan-00
Weighted Average Coupon 6.31%
Required Reserve Account Amount 0.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 0.00
Portfolio Yield - 3 month average 14.52%
Base Rate - 3 month average 7.81%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 6.71%
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1996-A
Distribution Date of: 15-Oct-99
Determined as of: 8-Oct-99
For the Monthly Period Ending: 30-Sep-99
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 30
<TABLE>
<CAPTION>
Beginning Ending Change
--------- ------ ------
<S> <C> <C> <C>
Pool Balance (Principal) 4,279,273,247.51 4,220,556,400.98 (58,716,846.53)
Excess Funding Account 0.00 0.00 0.00
Invested Amount 500,000,000.00 500,000,000.00 0.00
Class A Invested Amount 465,000,000.00 465,000,000.00 0.00
Class B Invested Amount 35,000,000.00 35,000,000.00 0.00
Principal Funding Account 0.00 0.00 0.00
Adjusted Invested Amount 500,000,000.00 500,000,000.00 0.00
Class A Adjusted Invested Amount 465,000,000.00 465,000,000.00 0.00
Class B Adjusted Invested Amount 35,000,000.00 35,000,000.00 0.00
Enhancement Invested Amount 0.00 0.00 0.00
Reserve Account 0.00 0.00 0.00
Available Cash Collateral Amount 50,000,000.00 50,000,000.00 0.00
Available Shared Collateral Amount 50,000,000.00 50,000,000.00 0.00
Spread Account 5,000,000.00 5,000,000.00 0.00
Servicing Base Amount 500,000,000.00 500,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 11.68%
Principal Allocation Pct 11.68%
Class A Floating Pct 93.00%
Class B Floating Pct 7.00%
Class A Principal Pct 93.00%
Class B Principal Pct 7.00%
<CAPTION>
Series
Allocations Trust 1996-A Class A Class B
- ----------- ----- ------ ------- -------
<S> <C> <C> <C> <C>
Principal Collections 469,127,069.30 54,813,871.67 50,976,900.66 3,836,971.02
Finance Charge Collections 71,495,415.39 8,353,686.63 7,768,928.56 584,758.06
PFA Investment Proceeds NA 0.00 0.00 0.00
Reserve Account Draw NA 0.00 0.00 0.00
------------ ------------ ----------
Available Funds 8,353,686.63 7,768,928.56 584,758.06
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 520,833.33 484,375.00 36,458.33
Monthly Interest 2,336,979.17 2,170,000.00 166,979.17
Monthly Servicing Fee 104,166.67 96,875.00 7,291.67
Defaulted Amounts 26,149,128.29 3,055,323.51 2,841,450.86 213,872.65
------------ ------------ ----------
6,017,302.67 5,592,700.86 424,601.81
Excess Spread 2,550,256.60 2,176,227.70 374,028.90
Required Amount 0.00 0.00 0.00
1 Month Libor Rate 5.380000%
- ------------------
Cash Collateral Account
- -----------------------
Cash Collateral Fee 26,041.67
Interest on CCA Draw 0.00
Total 26,041.67
</TABLE>
<PAGE>
<TABLE>
<S> <C>
Cash Collateral Account (continued)
- -----------------------------------
Quarterly Excess Spread Percentage 5.93%
Principal Payment Rate Calculation 11.51%
Calculated Current Month's Spread Account Cap 1.00%
Spread Account Cap Adjustment 0.00%
Applicable Spread Account Cap Percentage 1.00%
Beginning Cash Collateral Amount 50,000,000.00
Required Cash Collateral Amount 50,000,000.00
Cash Collateral Account Draw 0.00
Cash Collateral Account Surplus 0.00
Beginning Spread Account Balance 5,000,000.00
Required Spread Account Amount 5,000,000.00
Required Spread Account Draw 0.00
Required Spread Account Deposit 0.00
Spread Account Surplus 0.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Accumulation 0
Controlled Accumulation Amount 51,666,666.67
Required PFA Balance 0.00
Beginning PFA Balance 0.00
Controlled Deposit Amount 0.00
Available Investor Principal Collections 57,869,195.18
Principal Shortfall 0.00
Shared Principal to Other Series 57,869,195.18
Shared Principal from Other Series 0.00
Class A Monthly Principal 0.00
Class B Monthly Principal 0.00
Monthly Principal 0.00
PFA Deposit 0.00
PFA Withdrawal 0.00
Ending PFA Balance 0.00
Principal to Investors 0.00
Ending Class A Invested Amount 465,000,000.00
Ending Class B Invested Amount 35,000,000.00
Class A Accumulation Period Length
- ----------------------------------
Min 12 Month Historical Prin Pmt Rate 10.96%
Revolving Investor Interest 500,000,000.00
Class A Invested Amount 465,000,000.00
Available Principal 54,813,871.67
Class A Accumulation Period Length 9
Reserve Account
- ----------------
Available Reserve Account Amount 0.00
Covered Amount 0.00
Reserve Draw Amount 0.00
Portfolio Yield 16.06%
Reserve Account Factor 75.00%
Portfolio Adjusted Yield 7.30%
Reserve Account Funding Period Length 3
Reserve Account Funding Date 15-May-02
Weighted Average Coupon 5.61%
Required Reserve Account Amount 0.00
Reserve Account Surplus 0.00
Required Reserve Account Deposit 0.00
Portfolio Yield - 3 month average 14.52%
Base Rate - 3 month average 7.13%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 7.40%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1997-1
Distribution Date of: 15-Oct-99
Determined as of: 8-Oct-99
For the Monthly Period Ending: 30-Sep-99
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 30
<TABLE>
<CAPTION>
Beginning Ending Change
--------- ------ ------
<S> <C> <C> <C>
Pool Balance (Principal) 4,279,273,247.51 4,220,556,400.98 (58,716,846.53)
Excess Funding Account 0.00 0.00 0.00
Maximum Certificate Invested Amount 1,700,000,000.00 1,700,000,000.00 0.00
Invested Amount 1,700,000,000.00 1,700,000,000.00 0.00
Partial Amortization Amount 0.00 0.00 0.00
Specified Payment Date
Partial Amortization Amount Principal 0.00 0.00 0.00
All prior Partial Amortization Amount reductions
related to above Specified Payment Date
Partial Amortization Amount - Total 0.00 0.00 0.00
Commitment 165,750,000.00 165,750,000.00 0.00
Available Cash Collateral Amount 216,750,000.00 216,750,000.00 0.00
Seller Reserve Portion 51,000,000.00 51,000,000.00 0.00
Unused Commitment 0.00 0.00 0.00
Servicing Base Amount 1,700,000,000.00 1,700,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 39.73%
Principal Allocation Pct 39.73%
<CAPTION>
Allocations Master Trust Series 1997-1
- ------------ ---------------- ----------------
<S> <C> <C>
Principal Collections 469,127,069.30 186,367,163.69
Finance Charge Collections 71,495,415.39 28,402,534.53
Interest Earned on CCA-Seller Account NA 223,125.00
-------------
Total Available Fund 28,625,659.53
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 1,770,833.33
Monthly Interest 8,321,585.01
Monthly Servicing Fee 354,166.67
Defaulted Receivables 26,149,128.29 10,388,099.92
-------------
20,834,684.94
Excess Spread 7,790,974.59
Required Amount 0.00
Prepayable Increase Amount Interest - Total 0.00
Prepayable Increase Amount Interest - Paid 0.00
Prepayable Increase Amount Interest - Unpaid 0.00
Eurodollar Rate 0.000000%
CP Rate 5.809400%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C>
Cash Collateral Account
- -----------------------
Monthly Cash Collateral Fee 69,062.50
Risk Rate Base Portion Fee 0.00
Commitment Fee 0.00
---------
TOTAL FEES 69,062.50
Risk Rate Base Portion 0.00
Risk Rate 0.00%
Quarterly Excess Spread Percentage 5.40%
Applicable Excess Spread Percentage 4.93%
Lender Percentage 9.75%
Beginning Cash Collateral Amount 216,750,000.00
Required Cash Collateral Amount 216,750,000.00
Draw Amount 0.00
Cash Collateral Account Surplus 0.00
Beginning Seller Reserve Portion-Balance 51,000,000.00
Required Seller Reserve Portion 51,000,000.00
Amount Deposited to the CCA 0.00
Ending Cash Collateral Amount - Lender Sub-Account 165,750,000.00
Ending Cash Collateral Amount - Seller Sub-Account 51,000,000.00
Available Cash Collateral Amount - Ending Balance 216,750,000.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Amortization n/a
Controlled Distribution Amount 0.00
Available Investor Principal Collections 196,755,263.62
Principal Shortfall 0.00
Shared Principal to Other Series 196,755,263.62
Shared Principal from Other Series 0.00
Monthly Principal 0.00
Ending Invested Amount 1,700,000,000.00
Amortization Period Length
- --------------------------
Min 12 Month Historical Prin Pmt Rate 10.96%
Revolving Investor Interest 1,700,000,000.00
Invested Amount 1,700,000,000.00
Available Principal 186,367,163.69
Class A Accumulation Period Length 10
Payout Events
- --------------
Portfolio Yield - for the month 16.21%
Portfolio Yield - 3 month average 14.68%
Base Rate - 3 month average 7.20%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 7.48%
Required CCA - Available Cash Collateral Amount 0.00
Required CCA - Available Cash Collateral Amount (as % of Invested Amount) 0.00%
</TABLE>
<PAGE>
BANC ONE CREDIT CARD MASTER TRUST - SUMMARY REPORT
Series 1997-2
Distribution Date of: 15-Oct-99
Determined as of: 8-Oct-99
For the Monthly Period Ending: 30-Sep-99
Days in Interest Period (30/360) 30
Days in Interest Period (Actual/360) 30
<TABLE>
<CAPTION>
Beginning Ending Change
----------- ---------- ----------
<S> <C> <C> <C>
Pool Balance (Principal) 4,279,273,247.51 4,220,556,400.98 (58,716,846.53)
Excess Funding Account 0.00 0.00 0.00
Maximum Certificate Invested Amount 900,000,000.00 900,000,000.00 0.00
Invested Amount 900,000,000.00 900,000,000.00 0.00
Partial Amortization Amount 0.00 0.00 0.00
Specified Payment Date
Partial Amortization Amount Principal 0.00 0.00 0.00
All prior Partial Amortization Amount reductions
related to above Specified Payment Date
Partial Amortization Amount - Total 0.00 0.00 0.00
Commitment 87,750,000.00 87,750,000.00 0.00
Available Cash Collateral Amount 114,750,000.00 114,750,000.00 0.00
Seller Reserve Portion 27,000,000.00 27,000,000.00 0.00
Unused Commitment 0.00 0.00 0.00
Servicing Base Amount 900,000,000.00 900,000,000.00 0.00
Allocation Percentages
- ----------------------
Floating Allocation Pct 21.03%
Principal Allocation Pct 21.03%
<CAPTION>
Allocations Master Trust Series 1997-2
- ----------- ------------ -------------
<S> <C> <C>
Principal Collections 469,127,069.30 98,664,969.01
Finance Charge Collections 71,495,415.39 15,036,635.93
Interest Earned on CCA-Seller Account NA 118,125.00
-------------
Total Available Fund 15,154,760.93
Monthly Investor Obligations
- ----------------------------
Servicer Interchange 937,500.00
Monthly Interest 4,309,297.50
Monthly Servicing Fee 187,500.00
Defaulted Receivables 26,149,128.29 5,499,582.31
-------------
10,933,879.81
Excess Spread 4,220,881.11
Required Amount 0.00
Prepayable Increase Amount Interest - Total 0.00
Prepayable Increase Amount Interest - Paid 0.00
Prepayable Increase Amount Interest - Unpaid 0.00
Eurodollar Rate 0.000000%
CP Rate 5.732960%
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Cash Collateral Account
- -----------------------
<S> <C>
Monthly Cash Collateral Fee 36,562.50
Risk Rate Base Portion Fee 0.00
Commitment Fee 0.00
---------
TOTAL FEES 36,562.50
Risk Rate Base Portion 0.00
Risk Rate 0.00%
Quarterly Excess Spread Percentage 5.40%
Applicable Excess Spread Percentage 5.33%
Lender Percentage 9.75%
Beginning Cash Collateral Amount 114,750,000.00
Required Cash Collateral Amount 114,750,000.00
Draw Amount 0.00
Cash Collateral Account Surplus 0.00
Beginning Seller Reserve Portion-Balance 27,000,000.00
Required Seller Reserve Portion 27,000,000.00
Amount Deposited to the CCA (per 4.07(g) of Supplement) 0.00
Ending Cash Collateral Amount - Lender Sub-Account 87,750,000.00
Ending Cash Collateral Amount - Seller Sub-Account 27,000,000.00
Available Cash Collateral Amount - Ending Balance 114,750,000.00
Monthly Principal & Controlled Deposit Amount
- ---------------------------------------------
Month of Amortization n/a
Controlled Distribution Amount 0.00
Available Investor Principal Collections 104,164,551.33
Principal Shortfall 0.00
Shared Principal to Other Series 104,164,551.33
Shared Principal from Other Series 0.00
Monthly Principal 0.00
Ending Invested Amount 900,000,000.00
Amortization Period Length
- --------------------------
Min 12 Month Historical Prin Pmt Rate 10.96%
Revolving Investor Interest 900,000,000.00
Invested Amount 900,000,000.00
Available Principal 98,664,969.01
Class A Accumulation Period Length 10
Payout Events
- -------------
Portfolio Yield - for the month 16.21%
Portfolio Yield - 3 month average 14.68%
Base Rate - 3 month average 7.20%
(Portfolio Yield 3 mo avg) - (Base Rate 3 mo avg) 7.48%
Required CCA - Available Cash Collateral Amount 0.00
Required CCA - Available Cash Collateral Amount (as % of Invested Amount) 0.00%
</TABLE>
Exhibit 99.2
MONTHLY SERVICER'S CERTIFICATE
FIRST USA BANK, N.A.
BANC ONE CREDIT CARD MASTER TRUST
SERIES 1995-A
The undersigned, a duly authorized representative of First USA Bank
N.A., as Servicer ("First USA"), pursuant to the Pooling and Servicing Agreement
dated as of November 1, 1994 (as amended and supplemented, the "Agreement"), as
supplemented by the Series 1995-A Supplement (as amended and supplemented, the
"Series Supplement"), between First USA, as Seller and Servicer, and Bankers
Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. First USA is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Oct-99.
- ---------
5. As of the date hereof, to the best knowledge of the undersigned,
the Servicer has performed in all material respects all its obligations under
the Agreement through the Monthly Period preceding such Distribution Date.
[Or if there has been a default in the performance of any such obligation, set
forth in detail the (i) nature of such default, (ii) the action taken by the
Seller and Servicer, if any, to remedy such default and (iii) the current status
of each such default.].
6. As of the date hereof, to the best knowledge of the undersigned,
no Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned,
no Lien has been placed on any of the Receivables other pursuant to the
Agreement.
[or, if there is a Lien, such Lien consists of ]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 8th day of Oct-99
---- ------
First USA Bank, N.A.
as Servicer
By: /s/ Tracie Klein
---------------------
Name: Tracie Klein
Title: First Vice President
<PAGE>
MONTHLY SERVICER'S CERTIFICATE
FIRST USA BANK, N.A.
BANC ONE CREDIT CARD MASTER TRUST
SERIES 1995-B
The undersigned, a duly authorized representative of First USA Bank
N.A., as Servicer ("First USA"), pursuant to the Pooling and Servicing Agreement
dated as of November 1, 1994 (as amended and supplemented, the "Agreement"), as
supplemented by the Series 1995-B Supplement (as amended and supplemented, the
"Series Supplement"), between First USA, as Seller and Servicer, and Bankers
Trust Company, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. First USA is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Oct-99.
- ---------
5. As of the date hereof, to the best knowledge of the undersigned,
the Servicer has performed in all material respects all its obligations under
the Agreement through the Monthly Period preceding such Distribution Date.
[Or if there has been a default in the performance of any such obligation, set
forth in detail the (i) nature of such default, (ii) the action taken by the
Seller and Servicer, if any, to remedy such default and (iii) the current
status of each such default.].
6. As of the date hereof, to the best knowledge of the undersigned,
no Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned,
no Lien has been placed on any of the Receivables other pursuant to the
Agreement.
[or, if there is a Lien, such Lien consists of ]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 8th day of Oct-99
---- ------
FIRST USA BANK, N.A.
as Servicer
By: /s/ Tracie Klein
----------------------
Name: Tracie Klein
Title: First Vice President
<PAGE>
MONTHLY SERVICER'S CERTIFICATE
FIRST USA BANK, N.A.
BANC ONE CREDIT CARD MASTER TRUST
SERIES 1996-A
The undersigned, a duly authorized representative of First USA Bank,
NA, as Servicer ("First USA"), pursuant to the Pooling and Servicing Agreement
dated as of November 1, 1994 (as amended and supplemented, the "Agreement"), as
supplemented by the Series 1996-A Supplement dated as of March 27, 1996 (as
amended and supplemented, the "Series Supplement"), between First USA, as Seller
and Servicer, and Bankers Trust Company, as Trustee, does hereby certify as
follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. First USA is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Oct-99.
- ---------
5. As of the date hereof, to the best knowledge of the undersigned,
the Servicer has performed in all material respects all its obligations under
the Agreement through the Monthly Period preceding such Distribution Date.
[Or if there has been a default in the performance of any such obligation, set
forth in detail the (i) nature of such default, (ii) the action taken by the
Seller and Servicer, if any, to remedy such default and (iii) the current status
of each such default; if applicable].
6. As of the date hereof, to the best knowledge of the undersigned,
no Pay Out Event occurred on or prior to such Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned,
no Lien has been placed on any of the Receivables other than pursuant to the
Agreement.
[or, if there is a Lien, such Lien consists of ]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 8th day of Oct-99
---- ------
FIRST USA BANK, N.A.
as Servicer
By: /s/ Tracie Klein
----------------------
Name: Tracie Klein
Title: First Vice President
<PAGE>
MONTHLY SERVICER'S CERTIFICATE
FIRST USA BANK, N.A.
BANC ONE CREDIT CARD MASTER TRUST
SERIES 1997-1
The undersigned, a duly authorized representative of First USA Bank,
NA, as Servicer ("First USA"), pursuant to the Pooling and Servicing Agreement
dated as of November 1, 1994 (as amended and supplemented, the "Agreement"), as
supplemented by the Series 1997-1 Supplement dated as of September 23, 1997 (as
amended and supplemented, the "Series Supplement"), between First USA, as Seller
and Servicer, and Bankers Trust Company, as Trustee, does hereby certify as
follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. First USA is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Oct-99.
- ---------
5. As of the date hereof, to the best knowledge of the undersigned,
the Servicer has performed in all material respects all its obligations under
the Agreement through the Monthly Period preceding such Distribution Date.
[Or if there has been a default in the performance of any such obligation, set
forth in detail the (i) nature of such default, (ii) the action taken by the
Seller and Servicer, if any, to remedy such default and (iii) the current status
of each such default; if applicable].
6. As of the date hereof, to the best knowledge of the undersigned,
no Pay Out Event has been deemed to have occurred on or prior to such
Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned,
no Lien has been placed on any of the Receivables other than pursuant to the
Agreement.
[or, if there is a Lien, such Lien consists of ]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 8th day of Oct-99
---- ------
FIRST USA BANK, N.A.
as Servicer
By: /s/ Tracie Klein
----------------------
Name: Tracie Klein
Title: First Vice President
<PAGE>
MONTHLY SERVICER'S CERTIFICATE
FIRST USA BANK, N.A.
BANC ONE CREDIT CARD MASTER TRUST
SERIES 1997-2
The undersigned, a duly authorized representative of First USA Bank,
NA, as Servicer ("First USA"), pursuant to the Pooling and Servicing Agreement
dated as of November 1, 1994 (as amended and supplemented, the "Agreement"), as
supplemented by the Series 1997-2 Supplement dated as of December 17, 1997 (as
amended and supplemented, the "Series Supplement"), between First USA, as Seller
and Servicer, and Bankers Trust Company, as Trustee, does hereby certify as
follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or Series Supplement, as applicable.
2. First USA is, as of the date hereof, the Servicer under the
Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occuring on
15-Oct-99.
- ---------
5. As of the date hereof, to the best knowledge of the undersigned,
the Servicer has performed in all material respects all its obligations under
the Agreement through the Monthly Period preceding such Distribution Date.
[Or if there has been a default in the performance of any such obligation, set
forth in detail the (i) nature of such default, (ii) the action taken by the
Seller and Servicer, if any, to remedy such default and (iii) the current status
of each such default; if applicable].
6. As of the date hereof, to the best knowledge of the undersigned,
no Pay Out Event has been deemed to have occurred on or prior to such
Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned,
no Lien has been placed on any of the Receivables other than pursuant to the
Agreement.
[or, if there is a Lien, such Lien consists of ]
IN WITNESS WHEREOF, the undersigned has duly executed and delivered
this Certificate this 8th day of Oct-99
---- ------
FIRST USA BANK, N.A.
as Servicer
By: /s/ Tracie Klein
---------------------
Name: Tracie Klein
Title: First Vice President
