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) June 20, 1999
The Money Store Commercial Mortgage Inc., as seller, under a
Sale and Servicing Agreement, dated as of May 31, 1999,
pursuant to which a portfolio of business loans have been sold
to The Money Store Business Loan Backed Trust 1999-1, which is
issuing those certain Business Loan Backed Notes, Series
1999-1, under that certain Indenture dated as of May 31, 1999.
The Money Store Commercial Mortgage Inc.
Exact name of registrant as specified in its charter)
New Jersey 333-60771 22-2378261
(State or other (Commission File (IRS Employer ID
jurisdiction of Number) Number)
incorporation)
707 3rd Street, West Sacramento, California 95605
(Address of principal executive offices) (Zip Code)
Registrants' Telephone Number,
including area code: (916) 617-1000
N/A
(Former name or former address, if changed since last report)
<PAGE>
Item 5. OTHER EVENTS
This Current Report on Form 8-K is being filed to file a copy of the
Computational Materials (as defined below) of First Union Capital Markets Corp.
(the "Underwriter") in connection with the issuance by The Money Store Business
Loan Backed Trust 1999-1 of The Money Store Business Loan Backed Notes, Series
1999-1. The term "Computational Materials" shall have the meanings given in the
No-Action Letter of May 20, 1994 issued by the Securities and Exchange
Commission to Kidder, Peabody Acceptance Corporation I, Kidder, Peabody & Co.
Incorporated and Kidder Structured Asset Corporation, as supplemented in the
No-Action Letters of May 27, 1994 and February 17, 1995 issued by the SEC to the
Public Securities Association.
Item 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL INFORMATION AND EXHIBITS.
(c) EXHIBITS
EXHIBIT NO.
99.1 Computational Materials of First Union Capital Markets Corp.
<PAGE>
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.
THE MONEY STORE COMMERCIAL MORTGAGE INC.
By: /s/ Bruce Hurwitz
Name: Bruce Hurwitz
Title: Senior Vice President
Dated: June 22, 1999
<PAGE>
EXHIBIT INDEX
EXHIBIT
99.1 Computational Materials of First Union Capital Markets Corp.
EXHIBIT 99.1
[THE MONEY STORE]
[FIRST UNION
CAPITAL MARKETS CORP.]
BUSINESS LOAN BACKED TRUST 1999-1
TERM SHEET DATED JUNE 16, 1999
ISSUER..................... The Money Store Business Loan Backed Trust 1999-1.
SELLER AND SERVICER........ The Money Store Commercial Mortgage Inc.
INDENTURE TRUSTEE.......... HSBC Bank USA
OWNER TRUSTEE.............. Chase Manhattan Bank Delaware
CUSTODIAN.................. First Union National Bank
MANAGERS................... First Union Capital Markets Corp. (Lead & Books)
Prudential Securities (Co-Manager)
Salomon Smith Barney (Co-Manager)
REMARKETING AGENT.......... First Union Capital Markets Corp.
CUTOFF DATE................ May 31, 1999
CLOSING DATE............... June [29], 1999
PRICING.................... To Call
REGISTRATION............... DTC, Cedelbank, societe anonyme, or the Euroclear
System
INTEREST CALCULATION....... Classes are payable monthly starting July 15,
1999. Classes accrue interest monthly on an
Actual/360 basis. The pass-through rate for the
Classes other than Class AS-3 will be
equal to the lesser of (i) One-Month LIBOR plus
their respective margins or (ii) the Available
Funds Cap. The Class AS-3 Notes will bear interest
at a floating rate, which shall be established and
reset on a monthly basis and in such manner as
shall be described in the Prospectus Supplement.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
AVAILABLE FUNDS CAP....... Interest on the Notes will be subject to an
Available Funds Cap calculated as follows: current
period interest on such Loans less transaction
fees divided by the principal balance of such
Notes, expressed on an Actual/360 basis.
THE NOTES OFFERED......... Pool I:
Class AS-1 LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 137,788,000]
Class AS-2 LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 141,057,000]
Class AS-3 Auction Rate Notes in the aggregate
principal amount of [$ 190,443,000]
Class MS-1 LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 22,084,000]
Class MS-2 LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 23,464,000]
Class BS LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 12,422,000]
Pool II:
Class AN LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 55,396,000]
Class MN LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 2,229,000]
Class BN LIBOR + [ ] % Notes in the aggregate
principal amount of [$ 4,457,000]
PREPAYMENT ASSUMPTION..... 12% CPR
SERVICING FEE............. 0.40% per annum of the unpaid principal balance of
each loan
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
OTHER FEES................ approximately 0.03% per annum of the unpaid
principal balance of each loan
ADVANCES.................. The servicer will advance delinquent payments of
interest (but not principal) on the loans unless
the servicer determines that such advance would
not be recovered from future payments on the
loans. These advances are only intended to
maintain a regular flow of scheduled interest
payments on the notes and are not intended to
guarantee or insure against losses.
PREPAYMENT INTEREST
SHORTFALL................. The servicer will pay compensating interest at the
weighted average Note rate for any prepayment
interest shortfalls, up to the amount of its
servicing compensation for that month.
THE LOANS.................. The Trust will consist primarily of two pools
("Pool I" and "Pool II," respectively, and each a
"Pool") of loans having an aggregate principal
balance of $615,777,514.94. The loans were made to
small business concerns in conjunction with either
(i) the SBA 504 Loan Program (such loans, the "SBA
504 Loans"), (ii) the SBAss.7(a) Program (such
loans, the "Section 7(a) Companion Loans" and,
together with the SBA 504 Loans, the "Related
Loans"), (iii) the Conventional Commercial Loan
Program or (iv) the multifamily loans (such loans,
the "Multifamily Loans" and, together with the
Related Loans and the CCL Loans, the "Business
Loans"). The Business Loans assigned to the first
Pool are referred to as the "Pool I Loans." The
Business Loans assigned to the second Pool are
referred to as the "Pool II Loans." The Loans are
not guaranteed by the U.S. Small Business
Administration.
TERMS OF THE SECURITIES:
A. Payment Dates........... Interest and principal on the Notes will generally
be made on the 15th day of each month, beginning
July 15, 1999. If the 15th is not a business day,
then the payments will be made on the following
business day.
B. Interest Rates.......... The Notes will have floating interest rates. All
Notes, except Class AS-1, AS-2 and AS-3 Notes will
contain a coupon step-up feature equal to 2 times
the initial margin if the optional redemption is
not exercised. Class AS-3 Notes will bear interest
at a floating rate, which shall be established and
reset on a monthly basis and in such manner as
shall be described in the Prospectus Supplement.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
C. Interest Accrual
Periods................ Interest on the Notes will accrue in the following
manner: INITIAL ACCRUAL PERIOD - The period
beginning on the Closing Date and ending on July
14, 1999. SUBSEQUENT ACCRUAL PERIODS - The period
beginning on the 15th day of the month preceding a
remittance date and ending on the 14th day of the
month of such remittance date. INTEREST
CALCULATIONS - Actual/360
D. Principal Payments...... Principal payments on the notes will be made from:
(i) principal collections received on the loans
(ii) excess interest received on the loans
(iii) draws on the letters of credit
The loans and notes will be divided into two
pools. Principal payments received on the loans of
one pool will be paid to the notes of that pool.
E. Legal Finals........... The Trust must pay the outstanding principal
amount of each Class of Notes by the final
scheduled Payment Date (each, a "Legal Final")
indicated below:
------------------------------------------
Class Legal Final
------------------------------------------
AS-1 06/15/13
------------------------------------------
AS-2 09/15/21
------------------------------------------
AS-3 03/15/28
------------------------------------------
MS-1 03/15/28
------------------------------------------
MS-2 03/15/28
------------------------------------------
BS 10/15/26
------------------------------------------
AN 01/15/22
------------------------------------------
MN 05/15/22
------------------------------------------
BN 12/15/22
------------------------------------------
F. Optional Redemption.... The servicer may, at its option, terminate the
trust on any date on which the then outstanding
aggregate principal balance of the loans is less
than 10% of the aggregate principal balance of the
loans as of the cut-off date.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
G. Denominations.......... The notes will be issued in book-entry form in
minimum denominations of $25,000 and in multiples
of $1,000 in excess thereof.
H. Tax Status............. A real estate mortgage investment conduit election
will be made for certain assets in Pool I. No real
estate mortgage investment conduit election will
be made for Pool II. Stroock & Stroock & Lavan
LLP, special Federal tax counsel, will give its
opinion that, for Federal income tax purposes, the
notes will be characterized as debt, and that the
trust will not be characterized as an association
or a publicly traded partnership taxable as a
corporation or as a taxable mortgage pool.
Special considerations may apply to cash method
holders of Class M and Class B notes by reason of
the subordination of the Class M and Class B
notes. Also, special considerations may apply to
individuals and certain pass-through entities that
hold notes.
I. ERISA ............... Subject to certain considerations, the notes are
eligible for purchase by employee benefit plans.
CREDIT ENHANCEMENT:
A. Initial
Overcollateralization
Amount................ The Initial Pool Balance for Pool I,
$552,104,110.48 will exceed the $527,258,000
initial aggregate principal amount of the Pool I
Securities, by an amount equal to $24,846,110.48,
which amount is approximately 4.5% of the Initial
Pool Balance for Pool I.
The Initial Pool Balance for Pool II,
$63,673,404.46 will exceed the $62,082,000 initial
aggregate principal amount of the Pool II
Securities, by an amount equal to $1,591,404.46,
which amount is approximately 2.5% of the Initial
Pool Balance for Pool II.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
B. Subordination.......... Payments on the Class B notes of one pool will be
subordinate to payments on the Class A and Class M
notes of that pool, and payments on the Class M
notes of one pool will be subordinate to payments
on the Class A notes of that pool.
C. Letter of Credit....... First Union National Bank will issue a variable
amount letter of credit for Pool I and Pool II.
The initial amount of the Letter of Credit will be
2.50% and 7.22% of the original outstanding pool
balance of Pool I and Pool II, respectively.
Beginning on the 25th month, excess cash will be
used to create overcollateralization until the
required overcollateralization targets have been
met. The letter of credit will then step down in
the amount of additional overcollateralization
created in that period. As a result it is
anticipated that the Letter of Credit will be
replaced with overcollateralization by the 37th
and 47th month on Pool I and Pool II,
respectively.
E. RELEASE OF
OVERCOLLATERALIZATION
AMOUNT................ Pool I: Credit enhancement for such pool is
provided by the following: letter of credit,
excess cash, overcollateralization, subordination,
and cross collateralization. The required credit
enhancement is equal to 7.00% of the initial Pool
I balance prior to Step-down Date.
On each Distribution Date (a) before the Step-down
Date (July 15, 2001), the Principal Distribution
Amount for Pool I will be distributed sequentially
to the Class AS-1, Class AS-2, Class AS-3, Class
MS-1, Class MS-2 and Class BS Notes, in that
order, until the Principal Balance of each such
class has been reduced to zero. If Class MS-1,
Class MS-2, Class BS notes are retired due to
losses, Class AS-1, Class AS-2, Class AS-3 will
receive payments pro-rata.
Following the occurrence of the Step-down Date and
so long as the senior credit enhancement has been
achieved, the Class AS Notes receive 100% of the
Principal Distribution Amount until the required
credit enhancement is reached. The Notes will be
paid in the proper proportions to maintain their
subordination levels until the required credit
enhancement reaches a floor equal to 2.00% of the
initial Pool I balance. At and after that point,
the Total Overcollateralization Amount will be
maintained at the floor.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
Pool II: Credit enhancement for such pool is
provided by the following: letter of credit,
excess cash, overcollateralization, subordination,
and cross collateralization. The required credit
enhancement is equal to 12.50% of the initial Pool
II balance prior to Step-down Date.
On each Distribution Date (a) before the Step-down
Date (July 15, 2001), the Principal Distribution
Amount for Pool II will be distributed
sequentially to the Class AN, Class MN, and Class
BN Notes, in that order, until the Principal
Balance of each such class has been reduced to
zero.
Following the occurrence of the Step-down Date and
so long as the senior credit enhancement has been
achieved, the Class AN Notes receive 100% of the
Principal Distribution Amount until the required
credit enhancement is reached. The Notes will be
paid in the proper proportions to maintain these
subordination levels in line until the required
credit enhancement reaches a floor equal to 2.00%
of the initial Pool II balance. At and after that
point, the Total Overcollateralization Amount will
be maintained at the floor.
Prior to release of excess interest, pool I and
pool II will be cross collaterateralized to
prevent writedowns to the respective Notes.
The Class CI Certificate, which is not offered,
will get all excess cash from Pool I.
The Class CII Certificate, which is not offered,
will get all excess cash from Pool II.
PRIORITY OF PAYMENTS....... On each remittance date, amounts available to make
distributions on such Pool of Notes will be
applied in the following order of priority:
----------------------------------------------
| fees owed to the transaction parties |
----------------------------------------------
----------------------------------------------
| interest to the Class A notes of such pool |
----------------------------------------------
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
----------------------------------------------
| interest to the Class M notes of such pool |
----------------------------------------------
----------------------------------------------
| interest to the Class B notes of such pool |
----------------------------------------------
----------------------------------------------
| letter of credit fee on such pool |
----------------------------------------------
----------------------------------------------
| principal to the Class A notes of such pool |
----------------------------------------------
----------------------------------------------
| principal to the Class M notes of such pool |
----------------------------------------------
----------------------------------------------
| principal to the Class B notes of such pool |
----------------------------------------------
----------------------------------------------
| reimbursements to the servicer |
----------------------------------------------
----------------------------------------------
| reimbursements to the letter of credit |
| provider |
----------------------------------------------
----------------------------------------------
| Cross-support of pools |
----------------------------------------------
----------------------------------------------
| interest not received on prior remittance |
| dates due to interest rate caps |
----------------------------------------------
----------------------------------------------
| ANY REMAINDER TO THE CERTIFICATES |
----------------------------------------------
RATING OF THE NOTES........ The notes will be rated by Moody's Investor
Service, Inc. and Duff & Phelps Credit Rating Co.
and will bear the following ratings:
-------------------------------------------------
Initial Required
Credit Credit
Class Moody's/Duff Enhancement Enhancement
--------------------------------------------------
AS Aaa/AAA 17.50 26.250
--------------------------------------------------
MS-1 Aa1/AA 13.50 20.250
--------------------------------------------------
MS-2 A2/A 9.25 13.875
--------------------------------------------------
BS Baa2/BBB 7.00 10.500
--------------------------------------------------
AN Aaa/AAA 23.00 34.500
--------------------------------------------------
MN A2/A 19.50 29.250
--------------------------------------------------
BN Baa2/BBB 12.50 18.750
--------------------------------------------------
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
CONTACT................... Bill Ingram, Managing Director Capital Markets
Syndicate Desk Ph: 704-383-7727 Email:
[email protected]
<TABLE>
<CAPTION>
WEIGHTED AVERAGE LIFE (WAL) AND PAYMENT WINDOW TABLE
TO MATURITY
CPR 0 6 8 12 16 20 35
POOL I
Class AS1 Note
<S> <C> <C> <C> <C> <C> <C> <C>
WAL 7.682 1.781 1.431 1.000 0.748 0.592 0.315
DURATION 5.813 1.631 1.325 0.940 0.710 0.565 0.303
FIRST PAY 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99
LAST PAY 06/15/13 01/15/03 04/15/02 07/15/01 01/15/01 9/15/00 2/15/00
PERIODS 1 - 167 1 - 42 1 - 33 1 - 24 1 - 18 1 - 14 1 - 7
CLASS AS2 NOTE
WAL 18.174 6.317 4.946 3.445 2.629 2.098 1.096
DURATION 10.994 5.106 4.156 3.027 2.367 1.919 1.033
FIRST PAY 06/15/13 01/15/03 04/15/02 07/15/01 01/15/01 9/15/00 2/15/00
LAST PAY 09/15/21 06/15/09 05/15/07 12/15/04 08/15/03 10/15/02 02/15/01
PERIODS 168 - 266 43 - 119 34 - 94 25 - 65 19 - 49 15 - 39 8 - 19
CLASS AS3 NOTE
WAL 25.929 17.701 15.082 11.145 8.608 6.902 3.664
DURATION 13.563 10.852 9.769 7.913 6.521 5.476 3.185
FIRST PAY 09/15/21 06/15/09 05/15/07 12/15/04 08/15/03 10/15/02 02/15/01
LAST PAY 03/15/28 02/15/26 02/15/24 07/15/19 09/15/15 11/15/12 01/15/07
PERIODS 267 - 344 120 - 319 95 - 295 66 - 240 50 - 194 40 - 160 20 - 90
CLASS MS1 NOTE
WAL 24.216 14.992 12.744 9.469 7.367 5.967 3.561
DURATION 12.021 8.936 7.994 6.482 5.385 4.575 3.020
FIRST PAY 11/15/16 01/15/05 10/15/03 07/15/02 02/15/02 10/15/01 09/15/01
LAST PAY 03/15/28 05/15/26 07/15/24 01/15/20 03/15/16 05/15/13 06/15/07
PERIODS 209 - 344 67 - 322 52 - 300 37 - 246 32 - 200 28 - 166 27 - 95
CLASS MS2 NOTE
WAL 24.061 14.317 11.930 8.631 6.604 5.319 3.095
DURATION 11.273 8.393 7.471 5.992 4.928 4.164 2.661
FIRST PAY 11/15/16 01/15/05 10/15/03 07/15/02 03/15/02 11/15/01 07/15/01
LAST PAY 03/15/28 05/15/26 08/15/24 02/15/20 04/15/16 05/15/13 06/15/07
PERIODS 209 - 344 67 - 322 52 - 301 37 - 247 33 - 201 29 - 166 25 - 95
CLASS BS NOTE
WAL 23.923 13.824 11.397 8.149 6.227 5.009 2.864
DURATION 9.660 7.422 6.650 5.383 4.466 3.799 2.414
FIRST PAY 11/15/16 01/15/05 10/15/03 07/15/02 04/15/02 01/15/02 07/15/01
LAST PAY 10/15/26 06/15/20 06/15/17 11/15/12 10/15/09 09/15/07 11/15/03
PERIODS 209 - 327 67 - 251 52 - 215 37 - 160 34 - 123 31 - 98 25 - 52
Weighted Average Life (WAL) and Payment Window Table
TO MATURITY
POOL II
CPR 0 6 8 12 16 20 35
Class AN Note
WAL 7.524 5.184 4.657 3.803 3.179 2.706 1.619
DURATION 5.406 4.007 3.666 3.095 2.653 2.303 1.447
FIRST PAY 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99
LAST PAY 01/15/22 11/15/15 12/15/14 09/15/12 11/15/10 02/15/09 11/15/05
PERIODS 1 - 270 1 - 196 1 - 185 1 - 158 1 - 136 1 - 115 1 - 76
CLASS MN NOTE
WAL 12.352 8.719 7.955 6.671 5.682 4.873 3.208
DURATION 7.932 6.223 5.800 5.064 4.456 3.935 2.763
FIRST PAY 06/15/05 08/15/03 04/15/03 11/15/02 06/15/02 02/15/02 07/15/01
LAST PAY 05/15/22 02/15/16 03/15/15 01/15/13 03/15/11 07/15/09 02/15/06
PERIODS 72 - 274 50 - 199 46 - 188 41 - 162 36 - 140 32 - 120 25 - 79
CLASS BN NOTE
WAL 12.316 8.759 7.972 6.737 5.782 5.026 3.225
DURATION 6.919 5.602 5.254 4.667 4.178 3.765 2.637
FIRST PAY 06/15/05 08/15/03 05/15/03 12/15/02 08/15/02 04/15/02 07/15/01
LAST PAY 12/15/22 01/15/17 09/15/15 09/15/13 12/15/11 04/15/10 08/15/06
PERIODS 72 - 281 50 - 210 47 - 194 42 - 170 38 - 149 34 - 129 25 - 85
</TABLE>
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<TABLE>
<CAPTION>
WEIGHTED AVERAGE LIFE (WAL) AND PAYMENT WINDOW TABLE
TO CALL
CPR 0 6 8 12 16 20 35
POOL I
Class AS1 Note
<S> <C> <C> <C> <C> <C> <C> <C>
WAL 7.682 1.781 1.431 1.000 0.748 0.592 0.315
DURATION 5.813 1.631 1.325 0.940 0.710 0.565 0.303
FIRST PAY 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99
LAST PAY 06/15/13 01/15/03 04/15/02 07/15/01 01/15/01 9/15/00 2/15/00
PERIODS 1 - 167 1 - 42 1 - 33 1 - 24 1 - 18 1 - 14 1 - 7
CLASS AS2 NOTE
WAL 18.174 6.317 4.946 3.445 2.629 2.098 1.096
DURATION 10.994 5.106 4.156 3.027 2.367 1.919 1.033
FIRST PAY 06/15/13 01/15/03 04/15/02 07/15/01 01/15/01 9/15/00 2/15/00
LAST PAY 09/15/21 06/15/09 05/15/07 12/15/04 08/15/03 10/15/02 02/15/01
PERIODS 168 - 266 43 - 119 34 - 94 25 - 65 19 - 49 15 - 39 8 - 19
CLASS AS3 NOTE
WAL 25.809 17.225 14.529 10.601 8.149 6.507 3.436
DURATION 13.537 10.725 9.599 7.696 6.301 5.260 3.023
FIRST PAY 09/15/21 06/15/09 05/15/07 12/15/04 08/15/03 10/15/02 02/15/01
LAST PAY 03/15/27 02/15/22 05/15/19 07/15/14 04/15/11 12/15/08 08/15/04
PERIODS 267 - 332 120 - 271 95 - 238 66 - 180 50 - 141 40 - 113 20 - 61
CLASS MS1 NOTE
WAL 24.062 14.370 11.987 8.671 6.660 5.335 3.159
DURATION 11.993 8.791 7.792 6.203 5.083 4.263 2.754
FIRST PAY 11/15/16 01/15/05 10/15/03 07/15/02 02/15/02 10/15/01 09/15/01
LAST PAY 03/15/27 02/15/22 05/15/19 07/15/14 04/15/11 12/15/08 08/15/04
PERIODS 209 - 332 67 - 271 52 - 238 37 - 180 32 - 141 28 - 113 27 - 61
CLASS MS2 NOTE
WAL 24.042 14.278 11.876 8.569 6.568 5.270 3.053
DURATION 11.270 8.384 7.457 5.972 4.913 4.140 2.634
FIRST PAY 11/15/16 01/15/05 10/15/03 07/15/02 03/15/02 11/15/01 07/15/01
LAST PAY 03/15/27 02/15/22 05/15/19 07/15/14 04/15/11 12/15/08 08/15/04
PERIODS 209 - 332 67 - 271 52 - 238 37 - 180 33 - 141 29 - 113 25 - 61
CLASS BS NOTE
WAL 23.923 13.824 11.397 8.149 6.227 5.009 2.864
DURATION 9.660 7.422 6.650 5.383 4.466 3.799 2.414
FIRST PAY 11/15/16 01/15/05 10/15/03 07/15/02 04/15/02 01/15/02 07/15/01
LAST PAY 10/15/26 06/15/20 06/15/17 11/15/12 10/15/09 09/15/07 11/15/03
PERIODS 209 - 327 67 - 251 52 - 215 37 - 160 34 - 123 31 - 98 25 - 52
Weighted Average Life (WAL) and Payment Window Table
TO CALL
POOL II
CPR 0 6 8 12 16 20 35
Class AN Note
WAL 7.524 5.184 4.657 3.803 3.179 2.706 1.590
DURATION 5.406 4.007 3.666 3.095 2.653 2.303 1.426
FIRST PAY 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99 7/15/99
LAST PAY 01/15/22 11/15/15 12/15/14 09/15/12 11/15/10 12/15/08 08/15/04
PERIODS 1 - 270 1 - 196 1 - 185 1 - 158 1 - 136 1 - 113 1 - 61
CLASS MN NOTE
WAL 12.352 8.719 7.955 6.671 5.682 4.812 2.994
DURATION 7.932 6.223 5.800 5.064 4.456 3.901 2.616
FIRST PAY 06/15/05 08/15/03 04/15/03 11/15/02 06/15/02 02/15/02 07/15/01
LAST PAY 05/15/22 02/15/16 03/15/15 01/15/13 03/15/11 12/15/08 08/15/04
PERIODS 72 - 274 50 - 199 46 - 188 41 - 162 36 - 140 32 - 113 25 - 61
CLASS BN NOTE
WAL 12.316 8.759 7.972 6.737 5.742 4.889 2.983
DURATION 6.919 5.602 5.254 4.667 4.162 3.702 2.489
FIRST PAY 06/15/05 08/15/03 05/15/03 12/15/02 08/15/02 04/15/02 07/15/01
LAST PAY 12/15/22 01/15/17 09/15/15 09/15/13 04/15/11 12/15/08 08/15/04
PERIODS 72 - 281 50 - 210 47 - 194 42 - 170 38 - 141 34 - 113 25 - 61
</TABLE>
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
CERTAIN CHARACTERISTICS OF THE POOL I BUSINESS LOANS
As of the Cut-Off Date, the Pool I Business Loans bore interest at
rates ranging from 6.52% to 10.50% per annum. The weighted average interest rate
on the Pool I Business Loans, as of the Cut-Off Date, was 8.92% per annum. As of
the Cut-Off Date, the lowest principal balance of any Pool I Business Loans was
$71,250 and the highest was $3,543,487.41. As of the Cut-Off Date, the average
principal balance of the Pool I Business Loans was $757,344.46. The weighted
average remaining terms to stated maturity of the Pool I Business Loans was
approximately 339 months. The weighted average term to stated maturity of the
Pool I Business Loans at origination was 345 months. As of the Cut-off Date, no
individual Pool I Loan constituted more than 1.0% of the principal balance of
the Pool I Loans.
Set forth below is a description of certain characteristics of
Business Loans expected to constitute the Business Loans in Pool I as of the
Closing Date. It is expected that the Seller will sell to the Trust Fund Pool I
Business Loans having overall characteristics substantially similar to the
Business Loans described herein. Certain of the percentage columns may not sum
to 100.00% due to rounding.
- ------------------------------------------------------------------------------
Pool I Summary
- ------------------------------------------------------------------------------
Average Outstanding Balance $757,344.46
- ------------------------------------------------------------------------------
Weighted Average Interest Rate 8.92%
- ------------------------------------------------------------------------------
Weighted Average Gross Margin 2.13%
- ------------------------------------------------------------------------------
Weighted Average Original Term 345 months
- ------------------------------------------------------------------------------
Weighted Average Remaining Term 339 months
- ------------------------------------------------------------------------------
Weighted Average Debt Service Coverage Ratio 1.74
- ------------------------------------------------------------------------------
Weighted Average LTV 58.49
- ------------------------------------------------------------------------------
The interest rates borne by the Business Loans (the "Business Loans Interest
Rate") in Pool I were distributed as follows as of the Cut-Off Date:
POOL I
GROSS INTEREST RATE RANGE
Gross Number Aggregate Percentage of
Interest Rate of Cut-Off Date Cut-Off Date
Range Loans Principal Balance Principal Balance
6.501 - 7.000 2 843,682.35 0.15%
7.001 - 7.500 19 13,758,261.88 2.49%
7.501 - 8.000 76 70,876,581.18 12.84%
8.001 - 8.500 93 85,822,167.96 15.54%
8.501 - 9.000 115 95,078,445.76 17.22%
9.001 - 9.500 247 167,524,201.34 30.34%
9.501 - 10.000 161 109,746,963.13 19.88%
10.001 - 10.500 16 8,453,806.88 1.53%
- ------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
The Margins added on each Interest Adjustment Date to determine the
new Business Loan Interest Rate for the Pool I Business Loans were distributed
as of the Cut-Off Date as follows:
POOL I
DISTRIBUTION OF MARGINS
% of Cut-Off
Gross Margin No. of Current Ung. Current Ung.
Loans Principal Balance Balance
0.001 - 0.500 5 5,981,955.47 1.08%
0.501 - 1.000 63 55,226,725.52 10.00%
1.001 - 1.500 192 136,031,552.83 24.64%
1.501 - 2.000 204 140,535,047.81 25.45%
2.001 - 2.500 73 43,098,195.25 7.81%
2.501 - 3.000 75 68,330,761.13 12.38%
3.001 - 3.500 89 79,177,523.68 14.34%
3.501 - 4.000 23 21,226,223.97 3.84%
4.001 - 4.500 2 561,628.28 0.10%
4.501 - 5.000 3 1,934,496.54 0.35%
- -------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
The maximum lifetime Business Loan Interest Rates borne by the Pool I Business
Loans were as follows:
POOL I
DISTRIBUTION OF LIFE CAP
Number Aggregate Percentage of
Gross of Cut-Off Date Cut-Off Date Cumulative
Life Cap Loans Principal Balance Principal Balance Percentage
8.001 - 8.500 2 1,357,178.17 0.25% 100.00%
8.501 - 9.000 6 3,175,488.05 0.58% 99.75%
9.001 - 9.500 19 5,877,506.13 1.06% 99.17%
9.501 - 10.000 4 1,012,511.98 0.18% 98.11%
10.001 - 10.500 1 131,213.07 0.02% 97.93%
12.501 - 13.000 1 678,312.35 0.12% 97.91%
13.001 - 13.500 2 812,634.13 0.15% 97.79%
13.501 - 14.000 16 15,983,949.70 2.90% 97.64%
14.001 - 14.500 22 16,467,109.59 2.98% 94.74%
14.501 - 15.000 31 23,254,795.65 4.21% 91.76%
15.001 - 15.500 38 29,534,734.27 5.35% 87.55%
15.501 - 16.000 13 7,173,910.28 1.30% 82.20%
Uncapped 574 446,644,767.11 80.90% 80.90%
- -------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00 %
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
The minimum lifetime Business Loan Interest Rates borne by the Pool I
Business Loans were as follows (1):
POOL I
DISTRIBUTION OF LIFE FLOOR
Number Aggregate Percentage of
Gross of Cut-Off Date Cut-Off Date
Life Floor Loans Principal Balance Principal Balance
0.00 574 446,644,767.11 80.90%
2.501 - 3.000 1 678,312.35 0.12%
3.001 - 3.500 2 812,634.13 0.15%
3.501 - 4.000 16 15,983,949.70 2.90%
4.001 - 4.500 22 16,467,109.59 2.98%
4.501 - 5.000 32 23,657,552.40 4.28%
5.001 - 5.500 38 29,534,734.27 5.35%
5.501 - 6.000 12 6,771,153.53 1.23%
8.001 - 8.500 2 1,357,178.17 0.25%
8.501 - 9.000 6 3,175,488.05 0.58%
9.001 - 9.500 19 5,877,506.13 1.06%
9.501 - 10.000 4 1,012,511.98 0.18%
10.001 - 10.500 1 131,213.07 0.02%
- -------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
(1) Business Loans without stated life floors are assumed to have the
applicable margin at a floor.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
The distribution of the number of remaining months to maturity of the
Pool I Business Loans as of the Cut-Off Date was as follows:
POOL I
REMAINING MONTHS TO STATED MATURITY
Percentage of
Number of Cut-Off Date Cut-Off Date
Remaining Term (Months) Loans Principal Balance Principal Balance
49 - 60 1 975,962.95 0.18%
97 - 108 1 253,666.61 0.05%
109 - 120 6 2,459,972.60 0.45%
133 - 144 2 1,281,967.52 0.23%
169 - 180 9 4,147,812.87 0.75%
181 - 192 1 207,553.86 0.04%
193 - 204 1 1,493,624.71 0.27%
205 - 216 4 3,306,792.03 0.60%
217 - 228 8 4,801,490.38 0.87%
229 - 240 19 13,163,790.24 2.38%
241 - 252 1 290,763.54 0.05%
253 - 264 8 3,131,632.20 0.57%
265 - 276 4 3,099,875.29 0.56%
277 - 288 15 12,364,902.13 2.24%
289 - 300 27 24,788,558.82 4.49%
301 - 312 4 1,752,251.93 0.32%
313 - 324 6 5,833,806.03 1.06%
325 - 336 4 2,997,535.81 0.54%
337 - 348 82 59,233,864.41 10.73%
349 - 360 526 406,518,286.55 73.63%
- ------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
The distribution of the number of months since origination of the Pool
I Business Loans as of the Cut-Off Date was as follows:
POOL I
AGE OF LOAN
Number Aggregate Percentage of
of Cut-Off Date Cut-Off Date
Age (Months) Loans Principal Balance Principal Balance
0.00 76 59,542,695.81 10.78%
01-11 570 431,117,752.00 78.09%
12-24 83 61,443,662.67 11.13%
- -------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
The years in which the Pool I Business Loans were originated are as
follows:
POOL I
YEARS OF ORIGINATION
Aggregate Percentage of
Year of Number of Cut-Off Date Cut-Off Date
Origination Loans Principal Balance Principal Balance
1997 16 15,400,247.38 2.79%
1998 458 343,887,268.70 62.29%
1999 255 192,816,594.40 34.92%
- ------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
(1) Represents the ratio of annual net operating income to the pro forma annual
debt service payments.
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
The distribution of the debt-service coverage ratios at origination of
the Pool I Business Loans was as follows: (1)
POOL I
DEBT SERVICE COVERAGE RATIO
Debt Service Aggregate Percentage of
Coverage Ratio Number of Cut-Off Date Cut-Off Date
Range Loans Principal Balance Principal Baalance
0.00 7 4,134,280.24 0.75%
0.01 - 0.50 11 6,627,341.76 1.20%
0.51 - 1.00 15 13,018,167.82 2.36%
1.01 - 1.50 349 291,434,884.36 52.79%
1.51 - 2.00 184 129,480,839.19 23.45%
2.01 - 2.50 85 60,709,935.26 11.00%
2.51 - 3.00 26 18,472,514.73 3.35%
3.01 - 3.50 19 10,880,277.42 1.97%
3.51 - 4.00 7 5,251,669.46 0.95%
4.01 - 4.50 6 2,290,853.33 0.41%
4.51 - 5.00 6 2,224,818.27 0.40%
5.01 - 5.50 2 601,941.97 0.11%
5.51 - 6.00 2 956,806.00 0.17%
6.01 - 6.50 1 247,076.15 0.04%
6.51 - 7.00 1 1,106,046.95 0.20%
7.01 - 7.50 1 405,076.67 0.07%
7.51 - 8.00 1 446,463.71 0.08%
8.51 - 9.00 1 840,000.00 0.15%
9.51 - 10.00 1 412,582.50 0.07%
10.01 - 10.50 1 408,959.88 0.07%
10.51 - 11.00 1 264,374.81 0.05%
11.01 - 11.50 1 686,200.00 0.12%
13.51 - 14.00 1 1,203,000.00 0.22%
- -------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00%
This Structural Term Sheet, Collateral Term sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and Fist Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as considered by investors only
in light of the same warnings, lack of assurances and representations and other
precautionary matters, as is closed in the offering circular supplement. The
descriptions of the securities have been prepared on the basis of certain
assumptions regarding payments, interest rates and other factors described
herein and in the offering circular supplement. This material may be filed with
the Securities and Exchange commission (the "SEC") and incorporated by
reference into an effective registration statement previously filed with the
SEC under Rule 415 of the Securities Act of 1933, including all cases where the
material does not pertain to securities that are ultimately offered for sale
pursuant to such registration statement. Information contained in this material
is current as of the date appearing on this material only. Information in this
material regarding any assets backing any securities discussed herein supersedes
all prior information regarding such assets. Any information in the material,
whether regarding the assets backing any securities discussed herein or
otherwise, will be superseded by the information contained in any final
prospectus for any securities actually sold to you. This material is furnished
solely by the Underwriter and not by the issuer of the securities.
<PAGE>
The distribution of the Loan-to-Value Ratios of the Pool I Business Loans as of
the Cut-Off Date was as follows: (1)
POOL I
ORIGINAL LOAN-TO-VALUE RATIOS
AGGREGATE PERCENTAGE OF
ORIGINAL NUMBER OF CUT-OFF DATE CUT-OFF DATE
LOAN-TO-VALUE BUSINESS PRINCIPAL PRINCIPAL
RATIO LOANS BALANCE BALANCE
0.00 1 622,903.58 0.11 %
0.01 - 10.00 11 6,045,887.98 1.10 %
10.01 - 20.00 39 27,421,411.90 4.97 %
20.01 - 30.00 47 38,286,702.93 6.93 %
30.01 - 40.00 90 58,442,370.63 10.59 %
40.01 - 50.00 98 69,356,592.52 12.56 %
50.01 - 60.00 112 87,911,449.36 15.92 %
60.01 - 70.00 94 83,612,159.81 15.14 %
70.01 - 80.00 111 88,103,700.29 15.96 %
80.01 - 90.00 52 40,299,528.76 7.30 %
90.01 - 100.00 54 38,225,906.67 6.92 %
100.01 - 110.00 10 7,540,346.12 1.37 %
110.01 - 120.00 5 2,707,389.48 0.49 %
120.01 - 125.00 4 3,096,621.50 0.56 %
125.01 >= 1 431,138.95 0.08 %
- -------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00 %
(1) For each Pool I Business Loan, the "Loan-to-Value Ratio" is defined as the
original principle balance of such Business Loan as of its date of
origination divided by the appraised value of the collateral securing such
Business Loan.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the original terms of the Pool I Business Loans in months
was as follows:
POOL I
ORIGINAL TERM
AGGREGATE PERCENTAGE OF
NUMBER OF CUT-OFF DATE CUT-OFF DATE
ORIGINAL TERM (MONTHS) LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
49 - 60 1 975,962.95 0.18 %
109 - 120 7 2,713,639.21 0.49 %
133 - 144 2 1,281,967.52 0.23 %
169 - 180 8 3,255,337.96 0.59 %
181 - 192 2 1,100,028.77 0.20 %
193 - 204 1 1,493,624.71 0.27 %
205 - 216 3 2,669,013.10 0.48 %
217 - 228 2 1,245,260.95 0.23 %
229 - 240 26 17,357,798.60 3.14 %
241 - 252 1 290,763.54 0.05 %
253 - 264 8 3,131,632.20 0.57 %
265 - 276 4 3,099,875.29 0.56 %
277 - 288 4 2,014,808.31 0.36 %
289 - 300 38 35,138,652.64 6.36 %
301 - 312 2 1,218,460.78 0.22 %
313 - 324 8 6,367,597.18 1.15 %
325 - 336 4 2,997,535.81 0.54 %
337 - 348 2 2,134,961.65 0.39 %
349 - 360 606 463,617,189.31 83.97 %
- ------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the original balances of the Pool I Business Loans was as
follows:
POOL I
ORIGINAL AGGREGATE LOAN AMOUNTS
AGGREGATE PERCENTAGE OF
ORIGINAL AGGREGATE NUMBER OF CUT-OFF DATE CUT-OFF DATE
PRINCIPAL BALANCE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
1 - 100,000 4 326,500.00 0.06 %
100,001 - 200,000 26 4,315,618.84 0.78 %
200,001 - 300,000 87 22,061,026.78 4.00 %
300,001 - 400,000 95 33,610,669.63 6.09 %
400,001 - 500,000 87 39,238,397.64 7.11 %
500,001 - 600,000 60 32,845,775.10 5.95 %
600,001 - 700,000 55 35,655,209.30 6.46 %
700,001 - 800,000 47 34,713,891.74 6.29 %
800,001 - 900,000 56 47,216,624.93 8.55 %
900,001 - 1,000,000 34 32,362,787.60 5.86 %
1,000,001 - 1,100,000 32 33,667,464.14 6.10 %
1,100,001 - 1,200,000 23 26,196,958.70 4.74 %
1,200,001 - 1,300,000 21 26,057,541.15 4.72 %
1,300,001 - 1,400,000 19 25,774,113.38 4.67 %
1,400,001 - 1,500,000 12 17,476,453.71 3.17 %
1,500,001 - 1,600,000 14 21,755,743.43 3.94 %
1,600,001 - 1,700,000 12 19,621,387.90 3.55 %
1,700,001 - 1,800,000 8 13,991,229.58 2.53 %
1,800,001 - 1,900,000 5 9,210,183.55 1.67 %
1,900,001 - 2,000,000 3 5,747,288.44 1.04 %
2,000,001 - 2,100,000 7 14,314,381.66 2.59 %
2,100,001 - 2,200,000 5 10,822,070.01 1.96 %
2,200,001 - 2,300,000 3 6,756,572.39 1.22 %
2,300,001 - 2,400,000 2 4,692,895.05 0.85 %
2,400,001 - 2,500,000 4 9,782,206.09 1.77 %
2,500,001 - 2,600,000 1 2,600,000.00 0.47 %
2,700,001 - 2,800,000 1 2,793,413.75 0.51 %
2,900,001 - 3,000,000 5 14,954,218.58 2.71 %
3,500,001 - 3,600,000 1 3,543,487.41 0.64 %
- -----------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the Principal Balances of the Pool I Business Loans as of
the Cut-Off Date was as follows:
POOL I
CURRENT AGGREGATE LOAN AMOUNTS
AGGREGATE PERCENTAGE OF
CURRENT AGGREGATE NUMBER OF CUT-OFF DATE CUT-OFF DATE
PRINCIPAL BALANCE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
1 - 100,000 4 326,500.00 0.06 %
100,001 - 200,000 26 4,315,618.84 0.78 %
200,001 - 300,000 87 22,061,026.78 4.00 %
300,001 - 400,000 96 34,005,737.83 6.16 %
400,001 - 500,000 88 39,808,275.20 7.21 %
500,001 - 600,000 60 33,058,890.51 5.99 %
600,001 - 700,000 56 36,528,977.47 6.62 %
700,001 - 800,000 46 34,220,723.30 6.20 %
800,001 - 900,000 55 46,550,438.94 8.43 %
900,001 - 1,000,000 35 33,438,529.73 6.06 %
1,000,001 - 1,100,000 33 34,859,977.97 6.31 %
1,100,001 - 1,200,000 21 24,136,183.19 4.37 %
1,200,001 - 1,300,000 21 26,256,557.17 4.76 %
1,300,001 - 1,400,000 19 25,872,668.00 4.69 %
1,400,001 - 1,500,000 12 17,578,014.02 3.18 %
1,500,001 - 1,600,000 14 21,839,097.63 3.96 %
1,600,001 - 1,700,000 12 19,726,617.35 3.57 %
1,700,001 - 1,800,000 8 14,098,489.83 2.55 %
1,800,001 - 1,900,000 4 7,415,253.34 1.34 %
1,900,001 - 2,000,000 3 5,747,288.44 1.04 %
2,000,001 - 2,100,000 7 14,314,381.66 2.59 %
2,100,001 - 2,200,000 6 13,016,366.53 2.36 %
2,200,001 - 2,300,000 2 4,562,275.87 0.83 %
2,300,001 - 2,400,000 2 4,692,895.05 0.85 %
2,400,001 - 2,500,000 4 9,782,206.09 1.77 %
2,500,001 - 2,600,000 1 2,600,000.00 0.47 %
2,700,001 - 2,800,000 1 2,793,413.75 0.51 %
2,900,001 - 3,000,000 5 14,954,218.58 2.71 %
3,500,001 - 3,600,000 1 3,543,487.41 0.64 %
- --------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the SIC Codes of the Pool I Business Loans as of the Cut-Off
Date was as follows:
POOL I
SIC Codes
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE OF
NUMBER OF CUT-OFF DATE CUT-OFF DATE
INDUSTRY CLASSIFICATION LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
<S> <C> <C> <C>
Hotels & Motels 78 86,825,702.64 15.73 %
Real Estate Operators & Lessor 70 35,728,233.98 6.47 %
Retail - Prepared Food & Drink 33 34,316,541.87 6.22 %
Services - Business 38 30,924,240.88 5.60 %
Office/clinics - Dentist 49 28,881,918.75 5.23 %
Amusement, Recreation Serv 24 26,377,789.73 4.78 %
Wholesale - Durable Goods 29 20,994,051.01 3.80 %
Retail - Miscellaneous 26 19,948,530.65 3.61 %
Manufacturing - Chemical Prods 29 19,244,012.53 3.49 %
Manufacturing - Lumber & Wood 20 16,759,958.05 3.04 %
Construction - Htg, Plmb, A/C 28 16,727,867.06 3.03 %
Wholesale - Non-durable Goods 15 16,054,945.88 2.91 %
Health Services 28 15,348,783.34 2.78 %
Office/clinics - Doctor 22 13,693,981.56 2.48 %
Services - Museums, Bus & Eng 20 13,041,933.32 2.36 %
Agri - Services 21 12,715,714.33 2.30 %
Services - Auto Repair 17 12,395,075.76 2.25 %
Retail - Apparel,Acces, Furn 15 10,770,190.68 1.95 %
Manufacturing - Industrial Mch 15 10,699,129.02 1.94 %
Services - Educ & Social 12 8,526,484.82 1.54 %
Manufacturing - Transport Eqpt 7 8,078,562.13 1.46 %
Retail - Personal & Household 10 7,758,812.46 1.41 %
Manufacturing - Electronics 11 7,707,736.83 1.40 %
Legal Services 13 7,495,269.63 1.36 %
Services - Auto Misc. 12 7,035,427.37 1.27 %
Manufacturing - Textile 7 7,018,565.13 1.27 %
Public Transport & Utilities 12 6,670,269.68 1.21 %
Retail - Boats, RVs, M'cycle 6 6,451,593.36 1.17 %
Retail - Alcoholic Beverage 4 6,304,189.12 1.14 %
Insurance Agents, Brokers, Serv 12 6,140,891.88 1.11 %
Retail - Automobile 9 5,949,613.28 1.08 %
Wholesale - Parts & Tires 5 4,027,624.45 0.73 %
Motion Picture 2 3,572,112.67 0.65 %
Retail - Gasoline Serv Stn 5 3,239,174.11 0.59 %
Finance, Insurance, Real Est 5 3,159,688.31 0.57 %
Construction - Non-residential 6 3,144,914.48 0.57 %
Services - Personal 6 3,045,544.80 0.55 %
Manufacturing - Food, Bvrge 2 1,838,671.98 0.33 %
Services - Misc Repair 3 1,563,862.95 0.28 %
Construction - Highway 1 1,042,500.00 0.19 %
Mining - Oil, gas & stone 1 484,000.00 0.09 %
Agri - Livestock 1 400,000.00 0.07 %
- --------------------------------------------------------------------------------------------
TOTAL: 729 552,104,110.48 100.00 %
</TABLE>
The geographic distribution of the Pool I Business Loans by state as of the
Cut-Off Date was as follows:
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
GEOGRAPHICAL DISTRIBUTION OF BUSINESS LOANS
% OF CUT-OFF
NUMBER CURRENT UNG. CURRENT UNG. % OF
STATE OF LOANS PRINCIPAL BALANCE BALANCE LOAN COUNT
AK 1 792,070.03 0.14% 0.14%
AL 4 2,467,651.10 0.45% 0.55%
AR 2 505,728.45 0.09% 0.27%
AZ 53 45,426,175.12 8.23% 7.27%
CA 229 188,157,705.36 34.08% 31.41%
CO 50 41,401,222.12 7.50% 6.86%
CT 17 10,365,766.47 1.88% 2.33%
DC 6 1,531,371.73 0.28% 0.82%
FL 50 37,432,894.37 6.78% 6.86%
GA 14 12,089,277.97 2.19% 1.92%
IA 1 1,527,931.47 0.28% 0.14%
ID 6 3,346,018.25 0.61% 0.82%
IL 10 8,802,055.41 1.59% 1.37%
IN 5 1,500,646.08 0.27% 0.69%
KS 3 1,311,742.37 0.24% 0.41%
KY 7 3,578,009.44 0.65% 0.96%
LA 1 288,481.57 0.05% 0.14%
MA 10 7,859,454.89 1.42% 1.37%
MD 3 871,334.93 0.16% 0.41%
MI 8 4,617,157.50 0.84% 1.10%
MN 5 5,094,727.84 0.92% 0.69%
MO 1 471,086.70 0.08% 0.14%
MT 1 206,514.28 0.04% 0.14%
NC 11 11,840,424.06 2.14% 1.51%
NE 1 838,568.23 0.15% 0.14%
NH 2 1,294,000.00 0.23% 0.27%
NJ 11 7,741,107.52 1.40% 1.51%
NM 2 581,383.24 0.11% 0.27%
NV 10 5,670,299.64 1.03% 1.37%
NY 24 14,943,046.71 2.71% 3.29%
OH 17 13,476,889.69 2.44% 2.33%
OK 6 4,833,485.54 0.88% 0.82%
OR 14 12,836,342.49 2.32% 1.92%
PA 10 6,191,448.04 1.12% 1.37%
RI 2 812,167.18 0.15% 0.27%
SC 7 7,408,509.00 1.34% 0.96%
SD 1 477,476.29 0.09% 0.14%
TN 2 1,360,231.80 0.25% 0.27%
TX 52 33,035,520.48 5.98% 7.13%
UT 4 3,566,291.74 0.65% 0.55%
VA 12 8,922,119.96 1.62% 1.65%
WA 47 33,421,303.91 6.05% 6.45%
WI 5 2,578,211.51 0.47% 0.69%
WV 1 381,814.21 0.07% 0.14%
WY 1 302,445.79 0.05% 0.14%
TOTAL 729 552,104,110.48 100.0% 100.0%
CERTAIN CHARACTERISTICS OF THE POOL II BUSINESS LOANS
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
As of the Cut-Off Date, the Pool II Business Loans bore interest at
rates which ranged from 6.84% to 10.50% per annum. The weighted average interest
rate on the Pool II Business Loans, as of the Cut-Off Date, was 9.48% per annum.
As of the Cut-Off Date, the lowest principal balance of any Pool II Business
Loans was $27,493.82 and the highest was $1,644,584.92. As of the Cut-Off Date,
the average principal balance of the Pool II Business Loans was $493,592.28. The
weighted average remaining terms to stated maturity of the Pool II Business
Loans was approximately 178 months. The weighted average term to stated maturity
of the Pool II Business Loans at origination was 185 months. As of the Cut-off
Date, no individual Pool II Loan constituted more than 2.6% of the principal
balance of the Pool II Loans.
Set forth below is a description of certain characteristics of
Business Loans expected to constitute the Business Loans in Pool II as of the
Closing Date. It is expected that the Seller will sell to the Trust Fund Pool II
Business Loans having overall characteristics substantially similar to the
Business Loans described herein. Certain of the percentage columns may not sum
to 100.00% due to rounding.
- -------------------------------------------------------------------------------
Pool II Summary
- -------------------------------------------------------------------------------
Average Outstanding Balance $493,592.28
- -------------------------------------------------------------------------------
Weighted Average Interest Rate 9.48%
- -------------------------------------------------------------------------------
Weighted Average Gross Margin 1.91%
- -------------------------------------------------------------------------------
Weighted Average Original Term 185 months
- -------------------------------------------------------------------------------
Weighted Average Remaining Term 178 months
- -------------------------------------------------------------------------------
Weighted Average Debt Service Coverage Ratio 1.70
- -------------------------------------------------------------------------------
Weighted Average LTV 264.66
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The interest rates borne by the Business Loans (the "Business Loans
Interest Rate") in Pool II were distributed as follows as of the Cut-Off Date:
POOL II
GROSS INTEREST RATE RANGE
GROSS NUMBER AGGREGATE PERCENTAGE OF
INTEREST RATE OF CUT-OFF DATE CUT-OFF DATE
RANGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
6.501 - 7.000 1 919,281.92 1.44 %
8.001 - 8.500 2 2,666,443.57 4.19 %
8.501 - 9.000 10 6,925,342.72 10.88 %
9.001 - 9.500 44 21,316,361.56 33.48 %
9.501 - 10.000 58 26,683,336.51 41.91 %
10.001 - 10.500 14 5,162,638.18 8.11 %
- ---------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
The Margins added on each Interest Adjustment Date to determine the new
Business Loan Interest Rate for the Pool II Business Loans were distributed as
of the Cut-Off Date as follows:
POOL II
DISTRIBUTION OF MARGINS
% OF CUT-OFF
GROSS MARGIN NO. OF CURRENT UNG. CURRENT UNG.
LOANS PRINCIPAL BALANCE BALANCE
0.501 - 1.000 9 7,340,063.32 11.53 %
1.001 - 1.500 30 15,128,572.81 23.76 %
1.501 - 2.000 58 25,206,363.46 39.59 %
2.001 - 2.500 19 9,621,963.53 15.11 %
2.501 - 3.000 9 3,075,263.27 4.83 %
3.001 - 3.500 1 545,000.00 0.86 %
3.501 - 4.000 2 2,321,178.07 3.65 %
4.001 - 4.500 1 435,000.00 0.68 %
- --------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
The maximum lifetime Business Loan Interest Rates borne by the Pool II
Business Loans were as follows:
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
POOL II
DISTRIBUTION OF LIFE CAP
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE OF
GROSS NUMBER CUT-OFF DATE CUT-OFF DATE CUMULATIVE
LIFE CAP LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE PERCENTAGE
<S> <C> <C> <C> <C>
13.501 - 14.000 1 579,231.90 0.91 % 100.00%
14.001 - 14.500 5 3,020,682.09 4.74 % 99.09%
14.501 - 15.000 5 2,003,645.54 3.15 % 94.35%
15.001 - 15.500 7 3,381,610.99 5.31 % 91.20%
15.501 - 16.000 2 937,843.83 1.47 % 85.89%
16.001 - 16.500 1 266,216.79 0.42 % 84.42%
Uncapped 108 53,484,173.32 84.00 % 84.00%
- -----------------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
</TABLE>
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The minimum lifetime Business Loan Interest Rates borne by the Pool II
Business Loans were as follows (1):
POOL II
DISTRIBUTION OF LIFE FLOOR
AGGREGATE PERCENTAGE OF
GROSS NUMBER CUT-OFF DATE CUT-OFF DATE
LIFE FLOOR OF LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
0.00 108 53,484,173.32 84.00 %
3.501 - 4.000 1 579,231.90 0.91 %
4.001 - 4.500 5 3,020,682.09 4.74 %
4.501 - 5.000 5 2,003,645.54 3.15 %
5.001 - 5.500 7 3,381,610.99 5.31 %
5.501 - 6.000 2 937,843.83 1.47 %
6.001 - 6.500 1 266,216.79 0.42 %
- --------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
(1) Business Loans without stated life floors are assumed to have the
applicable margin at a floor.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the number of remaining months to maturity of the Pool
II Business Loans as of the Cut-Off Date was as follows:
POOL II
REMAINING MONTHS TO STATED MATURITY
PERCENTAGE OF
NUMBER OF CUT-OFF DATE CUT-OFF DATE
REMAINING TERM (MONTHS) LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
73 - 84 2 193,480.04 0.30 %
85 - 96 1 266,216.79 0.42 %
97 - 108 14 4,787,531.87 7.52 %
109 - 120 55 24,173,115.79 37.96 %
121 - 132 1 308,828.32 0.49 %
133 - 144 3 1,728,415.44 2.71 %
145 - 156 2 487,143.60 0.77 %
157 - 168 1 919,281.92 1.44 %
169 - 180 9 4,228,577.32 6.64 %
181 - 192 3 2,972,098.42 4.67 %
193 - 204 6 3,157,427.93 4.96 %
205 - 216 4 1,624,141.17 2.55 %
217 - 228 4 1,962,512.36 3.08 %
229 - 240 11 7,045,522.86 11.07 %
253 - 264 1 221,214.75 0.35 %
265 - 276 1 433,663.22 0.68 %
277 - 288 1 740,000.00 1.16 %
289 - 300 4 3,136,846.32 4.93 %
349 - 360 6 5,287,386.34 8.30 %
- -----------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the number of months since origination of the Pool II
Business Loans as of the Cut-Off Date was as follows:
POOL II
AGE OF LOAN
AGGREGATE PERCENTAGE OF
NUMBER CUT-OFF DATE CUT-OFF DATE
AGE (MONTHS) OF LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
0.00 12 6,986,876.00 10.97 %
01-11 109 54,578,942.15 85.72 %
12 - 24 8 2,107,586.31 3.31 %
- ----------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The years in which the Pool II Business Loans were originated are as
follows:
POOL II
YEARS OF ORIGINATION
AGGREGATE PERCENTAGE OF
YEAR OF NUMBER OF CUT-OFF DATE CUT-OFF DATE
ORIGINATION LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
1997 1 261,040.22 0.41 %
1998 92 42,943,105.19 67.44 %
1999 36 20,469,259.05 32.15 %
- ------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
The distribution of the debt-service coverage ratios at origination of the
Pool II Business Loans was as follows: (1)
POOL II
DEBT SERVICE COVERAGE RATIO
DEBT SERVICE AGGREGATE PERCENTAGE OF
COVERAGE RATIO NUMBER OF CUT-OFF DATE CUT-OFF DATE
RANGE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
0.00 1 27,493.82 0.04 %
0.51 - 1.00 6 3,257,518.22 5.12 %
1.01 - 1.50 56 30,449,330.45 47.82 %
1.51 - 2.00 41 19,325,357.59 30.35 %
2.01 - 2.50 12 4,800,688.01 7.54 %
2.51 - 3.00 9 3,616,159.21 5.68 %
3.01 - 3.50 2 1,422,991.10 2.23 %
3.51 - 4.00 1 433,692.81 0.68 %
7.51 - 8.00 1 340,173.25 0.53 %
- -------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
- ---------------------
(1) Represents the ratio of annual net operating income to the pro forma annual
debt service payments.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the Loan-to-Value Ratios of the Pool II Business Loans as of
the Cut-Off Date was as follows: (1)
POOL II
ORIGINAL LOAN-TO-VALUE RATIOS
AGGREGATE PERCENTAGE OF
ORIGINAL NUMBER OF CUT-OFF DATE CUT-OFF DATE
LOAN-TO-VALUE BUSINESS PRINCIPAL PRINCIPAL
RATIO LOANS BALANCE BALANCE
0.00 1 27,493.82 0.04 %
0.01 - 10.00 2 349,586.82 0.55 %
10.01 - 20.00 1 420,970.01 0.66 %
20.01 - 30.00 5 3,576,890.52 5.62 %
30.01 - 40.00 4 1,364,071.08 2.14 %
40.01 - 50.00 6 2,222,778.87 3.49 %
50.01 - 60.00 4 2,761,376.40 4.34 %
60.01 - 70.00 2 633,650.15 1.00 %
70.01 - 80.00 2 587,898.41 0.92 %
80.01 - 90.00 2 1,655,592.64 2.60 %
90.01 - 100.00 1 332,857.94 0.52 %
100.01 - 110.00 2 1,314,049.25 2.06 %
110.01 - 120.00 2 770,348.11 1.21 %
120.01 - 125.00 1 432,029.12 0.68 %
125.01 >= 94 47,223,811.32 74.17 %
- -----------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
(1) For each Pool II Business Loan, the "Loan-to-Value Ratio" is defined as
the original principle balance of such Business Loan as of its date of
origination divided by the appraised value of the collateral securing
such Business Loan.
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the original terms of the Pool II Business Loans in months
was as follows:
POOL II
ORIGINAL TERM
AGGREGATE PERCENTAGE OF
NUMBER OF CUT-OFF DATE CUT-OFF DATE
ORIGINAL TERM (MONTHS) LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
73 - 84 2 193,480.04 0.30 %
97 - 108 1 266,216.79 0.42 %
109 - 120 69 28,960,647.66 45.48 %
133 - 144 4 2,037,243.76 3.20 %
145 - 156 2 487,143.60 0.77 %
157 - 168 1 919,281.92 1.44 %
169 - 180 8 3,895,719.38 6.12 %
181 - 192 4 3,304,956.36 5.19 %
193 - 204 6 3,157,427.93 4.96 %
205 - 216 4 1,624,141.17 2.55 %
217 - 228 2 1,231,945.93 1.93 %
229 - 240 13 7,776,089.29 12.21 %
253 - 264 1 221,214.75 0.35 %
265 - 276 1 433,663.22 0.68 %
277 - 288 1 740,000.00 1.16 %
289 - 300 4 3,136,846.32 4.93 %
349 - 360 6 5,287,386.34 8.30 %
- --------------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the original balances of the Pool II Business Loans was as
follows:
POOL II
ORIGINAL AGGREGATE LOAN AMOUNTS
AGGREGATE PERCENTAGE OF
ORIGINAL AGGREGATE NUMBER OF CUT-OFF DATE CUT-OFF DATE
PRINCIPAL BALANCE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
1 - 100,000 2 109,495.36 0.17 %
100,001 - 200,000 4 608,657.35 0.96 %
200,001 - 300,000 25 6,272,917.88 9.85 %
300,001 - 400,000 21 7,131,017.10 11.20 %
400,001 - 500,000 29 12,489,255.39 19.61 %
500,001 - 600,000 18 9,751,009.80 15.31 %
600,001 - 700,000 9 5,752,593.75 9.03 %
700,001 - 800,000 2 1,507,210.57 2.37 %
800,001 - 900,000 3 2,508,233.48 3.94 %
900,001 - 1,000,000 5 4,560,653.24 7.16 %
1,000,001 - 1,100,000 4 4,094,361.97 6.43 %
1,100,001 - 1,200,000 3 3,359,428.08 5.28 %
1,200,001 - 1,300,000 2 2,446,903.50 3.84 %
1,400,001 - 1,500,000 1 1,437,082.07 2.26 %
1,600,001 - 1,700,000 1 1,644,584.92 2.58 %
- ---------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The distribution of the Principal Balances of the Pool II Business Loans as of
the Cut-Off Date was as follows:
POOL II
CURRENT AGGREGATE LOAN AMOUNTS
AGGREGATE PERCENTAGE OF
CURRENT AGGREGATE NUMBER OF CUT-OFF DATE CUT-OFF DATE
PRINCIPAL BALANCE LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
1 - 100,000 2 109,495.36 0.17 %
100,001 - 200,000 4 608,657.35 0.96 %
200,001 - 300,000 28 7,154,087.94 11.24 %
300,001 - 400,000 21 7,372,123.32 11.58 %
400,001 - 500,000 27 11,843,083.73 18.60 %
500,001 - 600,000 17 9,274,905.18 14.57 %
600,001 - 700,000 9 5,752,593.75 9.03 %
700,001 - 800,000 3 2,298,644.34 3.61 %
800,001 - 900,000 5 4,366,171.03 6.86 %
900,001 - 1,000,000 4 3,887,374.13 6.11 %
1,000,001 - 1,100,000 2 2,118,269.76 3.33 %
1,100,001 - 1,200,000 3 3,359,428.08 5.28 %
1,200,001 - 1,300,000 2 2,446,903.50 3.84 %
1,400,001 - 1,500,000 1 1,437,082.07 2.26 %
1,600,001 - 1,700,000 1 1,644,584.92 2.58 %
- ----------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
The geographic distribution of the Pool II Business Loans by state as of the
Cut-Off Date was as follows:
POOL II
% OF CUT-OFF
NUMBER CURRENT UNG. CURRENT UNG.
STATE OF LOANS PRINCIPAL BALANCE BALANCE
AL 6 3,444,868.84 5.41 %
AR 2 2,528,680.92 3.97 %
AZ 10 5,744,535.53 9.02 %
CA 41 18,540,120.65 29.12 %
CO 7 2,852,485.70 4.48 %
CT 2 628,502.77 0.99 %
DC 1 992,000.00 1.56 %
FL 7 4,623,061.55 7.26 %
GA 4 1,847,264.89 2.90 %
HI 1 310,988.56 0.49 %
ID 1 27,493.82 0.04 %
IL 1 604,380.82 0.95 %
IN 1 576,085.10 0.90 %
KS 1 553,535.72 0.87 %
MA 1 872,678.52 1.37 %
MD 3 1,570,561.53 2.47 %
MI 2 662,778.26 1.04 %
MN 1 627,319.48 0.99 %
MO 1 545,000.00 0.86 %
NC 2 1,323,154.08 2.08 %
NM 1 400,997.79 0.63 %
NV 1 297,682.79 0.47 %
NY 1 242,263.95 0.38 %
OH 2 874,607.31 1.37 %
OK 3 1,253,440.73 1.97 %
OR 3 1,756,221.93 2.76 %
PA 2 837,460.74 1.32 %
TX 10 3,804,228.97 5.97 %
VA 3 1,377,499.68 2.16 %
WA 8 3,953,503.83 6.21 %
TOTAL: 129 63,673,404.46 100.00 %
GEOGRAPHICAL DISTRIBUTION OF BUSINESS LOANS
The distribution of the SIC Codes of the Pool II Business Loans as of the
Cut-Off Date was as follows:
POOL II
SIC Codes
<TABLE>
<CAPTION>
AGGREGATE PERCENTAGE OF
NUMBER OF CUT-OFF DATE CUT-OFF DATE
INDUSTRY CLASSIFICATION LOANS PRINCIPAL BALANCE PRINCIPAL BALANCE
<S> <C> <C> <C>
Office/clinics - Dentist 59 24,842,540.66 39.02 %
Agri - Services 39 21,093,301.59 33.13 %
Retail - Prepared Food & Drink 7 3,803,556.84 5.97 %
Office/clinics - Doctor 7 3,628,694.79 5.70 %
Wholesale - Durable Goods 2 2,762,927.18 4.34 %
Health Services 4 1,941,716.58 3.05 %
Hotels & Motels 1 1,437,082.07 2.26 %
Retail - Alcoholic Beverage 1 992,000.00 1.56 %
Services - Auto Repair 3 674,899.83 1.06 %
Retail - Gasoline Serv Stn 1 637,583.18 1.00 %
Services - Auto Misc. 1 635,661.69 1.00 %
Wholesale - Parts & Tires 1 400,997.79 0.63 %
Retail - Automobile 1 377,069.04 0.59 %
Real Estate Operators & Lessor 1 279,387.00 0.44 %
Manufacturing - Industrial Mch 1 165,986.22 0.26 %
- --------------------------------------------------------------------------------------------
TOTAL: 129 63,673,404.46 100.00 %
</TABLE>
This Structural Term Sheet, Collateral Term Sheet, or Computational Materials,
as appropriate (the "material"), is for your private information and First Union
Capital Markets Corp. (the "Underwriter") is not soliciting any action based
upon it. Offers to sell and solicitations of offers to buy are made only by, and
this document must be read in conjunction with, the final offering circular
supplement. Information contained herein does not purport to be complete and is
subject to the same qualifications and assumptions and should be considered by
investors only in light of the same warnings, lack of assurances and
representations and other precautionary matters, as is closed in the offering
circular supplement. The descriptions of the securities have been prepared on
the basis of certain assumptions regarding payments, interest rates and other
factors described herein and in the offering circular supplement. This material
may be filed with the Securities and Exchange Commission (the "SEC") and
incorporated by reference into an effective registration statement previously
filed with the SEC under Rule 415 of the Securities Act of 1933, including all
cases where the material does not pertain to securities that are ultimately
offered for sale pursuant to such registration statement. Information contained
in this material is current as of the date appearing on this material only.
Information in this material regarding any assets backing any securities
discussed herein supersedes all prior information regarding such assets. Any
information in the material, whether regarding the assets backing any
securities discussed herein or otherwise, will be superseded by the information
contained in any final prospectus for any securities actually sold to you. This
material is furnished solely by the Underwriter and not by the issuer of the
securities.
<PAGE>
<TABLE>
<CAPTION>
Balance Net Rate Gross Rate WAM Age Margin Floor Cap Index Reset Frequency Next Reset
Pool I
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 120,693.58 8.600 9.000 177 3
2 239,543.71 9.090 9.490 358 2
3 483,423.59 8.600 9.000 178 2
4 1,676,032.76 8.881 9.281 360 0
5 11,193,660.11 8.838 9.238 358 2
6 828,386.52 7.212 7.612 112 8 3 0 0 5YCMT 60 10/1/03
7 2,861,215.64 8.579 8.979 92 7 1.229 0 0 PRIME 3 7/1/99
8 8,250,597.01 7.654 8.054 209 4 3.222 0 0 5YCMT 60 2/1/04
9 16,361,121.84 9.077 9.477 218 9 1.727 0 0 PRIME 3 7/1/99
10 171,897,599.72 7.674 8.074 351 4 3.227 0 0 5YCMT 60 2/1/04
11 244,286,390.03 8.931 9.331 346 7 1.584 0 0 PRIME 3 7/1/99
12 1,095,399.05 7.564 7.964 355 5 3.345 2.945 12.945 5YCMT 60 1/1/04
13 89,622,851.33 8.967 9.367 345 6 1.617 4.822 14.825 PRIME 3 7/1/99
14 3,187,195.59 9.155 9.555 222 9 1.805 5.007 15.007 PRIME 3 7/1/99
552,104,110.48
Pool II
1 919,281.92 6.440 6.840 162 6 2.5000 0 0 5YCMT 60 12/1/03
2 1,437,082.07 7.910 8.310 355 5 3.7500 0 0 5YCMT 60 1/1/04
3 6,288,763.32 9.027 9.427 320 6 1.6770 0 0 PRIME 3 7/1/99
4 18,945,981.54 9.058 9.458 202 5 1.7540 0 0 PRIME 3 7/1/99
5 25,893,064.47 9.262 9.662 112 7 2.0230 0 0 PRIME 3 7/1/99
6 4,568,685.88 8.923 9.323 196 7 1.5730 4.734 14.734 PRIME 3 7/1/99
7 2,093,265.24 8.899 9.299 315 6 1.5490 4.997 14.997 PRIME 3 7/1/99
8 3,527,280.02 9.447 9.847 112 7 2.0970 5.341 15.341 PRIME 3 7/1/99
63,673,404.46
</TABLE>
FIRST UNION CAPITAL MARKETS CORP. (FUCMC) HAS PROVIDED THIS DATA AS
AN ACCOMMODATION. BY ACCEPTING THIS DATA, THE RECIPIENT AGRESS THAT FUCMC DOES
NOT GUARANTEE AND MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF FITNESS FOR
A PARTICULAR PURPOSE OR MERCHANTABILITY, WITH RESPECT TO THIS DATA OR THE
ACCURACY, CURRENCY OR COMPLETENESS THEREOF. BY ACCEPTING THIS DATA, THE
RECIPIENT AGREES THAT NEITHER FUCMC, ITS EMPLOYEES NOR ANY OF ITS AFFILIATES
SHALL HAVE ANY LIABILITY TO THE RECIPIENT OR ANY OTHER ENTITY CLAIMING BY OR
THROUGH THE RECIPIENT FOR ANY LOSS, INJURY, DAMAGES OR EXPENSES ARISING FROM OR
OCCASIONED BY OR THROUGH THIS DATA, THE RELIANCE THEREON BY THE RECIPIENT OR ANY
OTHER PARTY OR THE PROVISION THEREOF BY FUCMC.
THIS DATA IS FOR YOUR INFORMATION ONLY AND IS NOT AN OFFER TO SELL OR
A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES, INCLUDING ANY OF THE
SECURITIES THAT MAY BE MENTIONED IN THIS DATA. FUCMC OR ITS AFFILIATES MAY
PROVIDE ADVICE OR MAY FROM TIME TO TIME ACQUIRE, HOLD OR SELL POSITIONS IN ANY
OF THE SECURITIES THAT MAY BE MENTIONED IN THIS DATA, EITHER FOR ITS OWN ACCOUNT
OF FOR THE ACCOUNT OF OTHERS. FUCMC IS A SUBSIDIARY OF FIRST UNION CORPORATION
AND IS A MEMBER OF THE NYSE, THE NASD AND THE SIPC.
<PAGE>
[FIRST UNION]
[THE MONEY STORE]
AVAILABLE FUNDS CAP RATE
TO CALL
PRIME 15
5YCMT 15
Pool 1 Step
<TABLE>
<CAPTION>
Period Date Cap Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 7/15/99 8.4926 31 1/15/02 12.48871 61 7/15/04 15.67457 91 1/15/07 15.68109
2 8/15/99 12.4566 32 2/15/02 13.82811 62 8/15/04 15.67477 92 2/15/07 17.36147
3 9/15/99 12.87288 33 3/15/02 12.4911 63 9/15/04 16.19746 93 3/15/07 15.68157
4 10/15/99 12.45866 34 4/15/02 12.90871 64 10/15/04 15.67516 94 4/15/07 16.2045
5 11/15/99 12.87503 35 5/15/02 12.4935 65 11/15/04 16.19787 95 5/15/07 15.68198
6 12/15/99 12.46076 36 6/15/02 12.91121 66 12/15/04 15.67556 96 6/15/07 16.20492
7 1/15/00 12.46181 37 7/15/02 12.49593 67 1/15/05 15.67577 97 7/15/07 15.68239
8 2/15/00 13.32238 38 8/15/02 12.49716 68 2/15/05 17.35554 98 8/15/07 15.6826
9 3/15/00 12.46393 39 9/15/02 12.915 69 3/15/05 15.67618 99 9/15/07 16.20557
10 4/15/00 12.8805 40 10/15/02 12.49962 70 4/15/05 16.19893 100 10/15/07 15.68302
11 5/15/00 12.46608 41 11/15/02 12.91755 71 5/15/05 15.67659 101 11/15/07 16.206
12 6/15/00 12.88273 42 12/15/02 12.5021 72 6/15/05 16.19936 102 12/15/07 15.68344
13 7/15/00 12.46824 43 1/15/03 12.50335 73 7/15/05 15.67702 103 1/15/08 15.68365
14 8/15/00 12.46933 44 2/15/03 13.84439 74 8/15/05 15.67723 104 2/15/08 16.76551
15 9/15/00 12.88611 45 3/15/03 12.50587 75 9/15/05 16.20003 105 3/15/08 15.68408
16 10/15/00 12.47153 46 4/15/03 12.92404 76 10/15/05 15.67766 106 4/15/08 16.2071
17 11/15/00 12.88839 47 5/15/03 12.50841 77 11/15/05 16.20047 107 5/15/08 15.68451
18 12/15/00 12.47375 48 6/15/03 12.92668 78 12/15/05 15.6781 108 6/15/08 16.20755
19 1/15/01 12.47487 49 7/15/03 12.51097 79 1/15/06 15.67832 109 7/15/08 15.68495
20 2/15/01 13.81271 50 8/15/03 12.51226 80 2/15/06 17.35838 110 8/15/08 15.68516
21 3/15/01 12.47712 51 9/15/03 12.93068 81 3/15/06 15.67876 111 9/15/08 16.20823
22 4/15/01 12.8942 52 10/15/03 12.51486 82 4/15/06 16.20162 112 10/15/08 15.68561
23 5/15/01 12.4794 53 11/15/03 12.94335 83 5/15/06 15.67922 113 11/15/08 16.20869
24 6/15/01 12.89656 54 12/15/03 12.52702 84 6/15/06 16.20209 114 12/15/08 15.68608
25 7/15/01 12.48169 55 1/15/04 12.52822 85 7/15/06 15.67967 115 1/15/09 15.68634
26 8/15/01 12.48285 56 2/15/04 13.40358 86 8/15/06 15.67991 116 2/15/09 17.36731
27 9/15/01 12.90014 57 3/15/04 15.6738 87 9/15/06 16.20281 117 3/15/09 15.68686
28 10/15/01 12.48518 58 4/15/04 16.19646 88 10/15/06 15.68037 118 4/15/09 16.21003
29 11/15/01 12.90256 59 5/15/04 15.67418 89 11/15/06 16.2033 119 5/15/09 15.68739
30 12/15/01 12.48753 60 6/15/04 16.19685 90 12/15/06 15.68085 120 6/15/09 16.21057
Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 7/15/09 15.68792 151 1/15/12 15.69657 182 8/15/14 15.70647
122 8/15/09 15.68818 152 2/15/12 16.77942 183 9/15/14 16.23028
123 9/15/09 16.2114 153 3/15/12 15.69719 184 10/15/14 15.70697
124 10/15/09 15.68872 154 4/15/12 16.22075 185 11/15/14 16.23079
125 11/15/09 16.21196 155 5/15/12 15.69782 186 12/15/14 15.70746
126 12/15/09 15.68927 156 6/15/12 16.22141 187 1/15/15 15.70771
127 1/15/10 15.68954 157 7/15/12 15.69845 188 2/15/15 17.39095
128 2/15/10 17.37087 158 8/15/12 15.69877 189 3/15/15 15.7082
129 3/15/10 15.6901 159 9/15/12 16.22239 190 4/15/15 16.23206
130 4/15/10 16.21339 160 10/15/12 15.69941 191 5/15/15 15.70869
131 5/15/10 15.69066 161 11/15/12 16.22306 192 6/15/15 16.23256
132 6/15/10 16.21397 162 12/15/12 15.70006 193 7/15/15 15.70918
133 7/15/10 15.69122 163 1/15/13 15.70038 194 8/15/15 15.70942
134 8/15/10 15.69151 164 2/15/13 17.38293 195 9/15/15 16.23331
135 9/15/10 16.21485 165 3/15/13 15.70104 196 10/15/15 15.7099
136 10/15/10 15.69208 166 4/15/13 16.22474 197 11/15/15 16.23381
137 11/15/10 16.21545 167 5/15/13 15.7017 198 12/15/15 15.71038
138 12/15/10 15.69266 168 6/15/13 16.22543 199 1/15/16 15.71061
139 1/15/11 15.69295 169 7/15/13 15.70236 200 2/15/16 16.79435
140 2/15/11 17.37467 170 8/15/13 15.70269 201 3/15/16 15.71108
141 3/15/11 15.69354 171 9/15/13 16.22646 202 4/15/16 16.23502
142 4/15/11 16.21697 172 10/15/13 15.70336 203 5/15/16 15.71155
143 5/15/11 15.69414 173 11/15/13 16.22716 204 6/15/16 16.2355
144 6/15/11 16.21758 174 12/15/13 15.70404 205 7/15/16 15.712
145 7/15/11 15.69474 175 1/15/14 15.70438 206 8/15/16 15.71223
146 8/15/11 15.69504 176 2/15/14 17.38737 207 9/15/16 16.2362
147 9/15/11 16.21852 177 3/15/14 15.70506 208 10/15/16 15.71267
148 10/15/11 15.69565 178 4/15/14 16.22892 209 11/15/16 16.23666
149 11/15/11 16.21915 179 5/15/14 15.70573 210 12/15/16 15.71311
150 12/15/11 15.69626 180 6/15/14 16.22951 211 1/15/17 15.71373
181 7/15/14 15.70622
</TABLE>
FIRST UNION CAPITAL MARKETS CORP. (FUCMC) HAS PROVIDED THIS DATA AS
AN ACCOMMODATION. BY ACCEPTING THIS DATA, THE RECIPIENT AGRESS THAT FUCMC DOES
NOT GUARANTEE AND MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF FITNESS FOR
A PARTICULAR PURPOSE OR MERCHANTABILITY, WITH RESPECT TO THIS DATA OR THE
ACCURACY, CURRENCY OR COMPLETE THEREOF. BY ACCEPTING THIS DATA, THE RECIPIENT
AGREES THAT NEITHER FUCMC, ITS EMPLOYEES NOR ANY OF ITS AFFILIATES SHALL HAVE
ANY LIABILITY TO THE RECIPIENT OR ANY OTHER ENTITY CLAIMING BY OR THROUGH THE
RECIPIENT FOR ANY LOSS, INJURY, DAMAGES OR EXPENSES ARISING FROM OR OCCASIONED
BY OR THROUGH THIS DATA, THE RELIANCE THEREON BY THE RECIPIENT OR ANY OTHER
PARTY OR THE PROVISION THEREOF BY FUCMC.
THIS DATA IS FOR YOUR INFORMATION ONLY AND IS NOT AN OFFER TO SELL OR
A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES, INCLUDING ANY OF THE
SECURITIES THAT MAY BE MENTIONED IN THIS DATA. FUCMC OR ITS AFFILIATES MAY
PROVIDE ADVICE OR MAY FROM TIME TO TIME ACQUIRE, HOLD OR SELL POSITIONS IN ANY
OF THE SECURITIES THAT MAY BE MENTIONED IN THIS DATA, EITHER FOR ITS OWN ACCOUNT
OF FOR THE ACCOUNT O FUCMC IS A SUBSIDIARY OF FIRST UNION CORPORATION AND IS A
MEMBER OF THE NYSE, THE NASD AND THE SIPC.
<PAGE>
[FIRST UNION]
[THE MONEY STORE]
AVAILABLE FUNDS CAP RATE
TO CALL
PRIME 7.75
5YCMT 5.86
Pool 1 No Step
<TABLE>
<CAPTION>
Period Date Cap Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 7/15/99 8.4926 31 1/15/02 8.22121 61 7/15/04 8.54528 91 1/15/07 8.54572
2 8/15/99 8.21994 32 2/15/02 9.10211 62 8/15/04 8.54529 92 2/15/07 9.46135
3 9/15/99 8.49398 33 3/15/02 8.22131 63 9/15/04 8.83015 93 3/15/07 8.54575
4 10/15/99 8.22002 34 4/15/02 8.4954 64 10/15/04 8.54532 94 4/15/07 8.83061
5 11/15/99 8.49407 35 5/15/02 8.2214 65 11/15/04 8.83017 95 5/15/07 8.54574
6 12/15/99 8.22011 36 6/15/02 8.49549 66 12/15/04 8.54534 96 6/15/07 8.83059
7 1/15/00 8.22015 37 7/15/02 8.22149 67 1/15/05 8.54536 97 7/15/07 8.54573
8 2/15/00 8.7871 38 8/15/02 8.22154 68 2/15/05 9.46094 98 8/15/07 8.54572
9 3/15/00 8.22024 39 9/15/02 8.49564 69 3/15/05 8.54538 99 9/15/07 8.83057
10 4/15/00 8.49429 40 10/15/02 8.22163 70 4/15/05 8.83024 100 10/15/07 8.54571
11 5/15/00 8.22032 41 11/15/02 8.49574 71 5/15/05 8.54541 101 11/15/07 8.83056
12 6/15/00 8.49438 42 12/15/02 8.22173 72 6/15/05 8.83027 102 12/15/07 8.54569
13 7/15/00 8.22041 43 1/15/03 8.22177 73 7/15/05 8.54544 103 1/15/08 8.54569
14 8/15/00 8.22045 44 2/15/03 9.10273 74 8/15/05 8.54545 104 2/15/08 9.13504
15 9/15/00 8.49451 45 3/15/03 8.22187 75 9/15/05 8.83032 105 3/15/08 8.54567
16 10/15/00 8.22054 46 4/15/03 8.49598 76 10/15/05 8.54548 106 4/15/08 8.83052
17 11/15/00 8.4946 47 5/15/03 8.22197 77 11/15/05 8.83035 107 5/15/08 8.54566
18 12/15/00 8.22063 48 6/15/03 8.49608 78 12/15/05 8.54551 108 6/15/08 8.8305
19 1/15/01 8.22067 49 7/15/03 8.22206 79 1/15/06 8.54553 109 7/15/08 8.54564
20 2/15/01 9.10151 50 8/15/03 8.22211 80 2/15/06 9.46114 110 8/15/08 8.54563
21 3/15/01 8.22076 51 9/15/03 8.49623 81 3/15/06 8.54556 111 9/15/08 8.83048
22 4/15/01 8.49483 52 10/15/03 8.22221 82 4/15/06 8.83043 112 10/15/08 8.54562
23 5/15/01 8.22085 53 11/15/03 8.49755 83 5/15/06 8.54559 113 11/15/08 8.83046
24 6/15/01 8.49492 54 12/15/03 8.22347 84 6/15/06 8.83046 114 12/15/08 8.54559
25 7/15/01 8.22094 55 1/15/04 8.22351 85 7/15/06 8.54562 115 1/15/09 8.54557
26 8/15/01 8.22098 56 2/15/04 8.79324 86 8/15/06 8.54564 116 2/15/09 9.46115
27 9/15/01 8.49506 57 3/15/04 8.54522 87 9/15/06 8.83051 117 3/15/09 8.54554
28 10/15/01 8.22108 58 4/15/04 8.83008 88 10/15/06 8.54567 118 4/15/09 8.83037
29 11/15/01 8.49516 59 5/15/04 8.54525 89 11/15/06 8.83054 119 5/15/09 8.5455
30 12/15/01 8.22117 60 6/15/04 8.8301 90 12/15/06 8.5457 120 6/15/09 8.83033
Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 7/15/09 8.54547 151 1/15/12 8.54478 182 8/15/14 8.54368
122 8/15/09 8.54545 152 2/15/12 9.13405 183 9/15/14 8.82842
123 9/15/09 8.83028 153 3/15/12 8.54472 184 10/15/14 8.54358
124 10/15/09 8.54541 154 4/15/12 8.82952 185 11/15/14 8.82832
125 11/15/09 8.83024 155 5/15/12 8.54467 186 12/15/14 8.54348
126 12/15/09 8.54537 156 6/15/12 8.82946 187 1/15/15 8.54343
127 1/15/10 8.54535 157 7/15/12 8.54461 188 2/15/15 9.45874
128 2/15/10 9.4609 158 8/15/12 8.54458 189 3/15/15 8.54332
129 3/15/10 8.54531 159 9/15/12 8.82936 190 4/15/15 8.82805
130 4/15/10 8.83013 160 10/15/12 8.54451 191 5/15/15 8.54322
131 5/15/10 8.54527 161 11/15/12 8.8293 192 6/15/15 8.82793
132 6/15/10 8.83009 162 12/15/12 8.54445 193 7/15/15 8.5431
133 7/15/10 8.54522 163 1/15/13 8.54442 194 8/15/15 8.54305
134 8/15/10 8.5452 164 2/15/13 9.45985 195 9/15/15 8.82775
135 9/15/10 8.83002 165 3/15/13 8.54435 196 10/15/15 8.54293
136 10/15/10 8.54516 166 4/15/13 8.82913 197 11/15/15 8.82763
137 11/15/10 8.82997 167 5/15/13 8.54428 198 12/15/15 8.54281
138 12/15/10 8.54511 168 6/15/13 8.82905 199 1/15/16 8.54274
139 1/15/11 8.54509 169 7/15/13 8.54421 200 2/15/16 9.13183
140 2/15/11 9.46061 170 8/15/13 8.54417 201 3/15/16 8.54262
141 3/15/11 8.54504 171 9/15/13 8.82894 202 4/15/16 8.8273
142 4/15/11 8.82985 172 10/15/13 8.5441 203 5/15/16 8.54248
143 5/15/11 8.54499 173 11/15/13 8.82886 204 6/15/16 8.82716
144 6/15/11 8.8298 174 12/15/13 8.54402 205 7/15/16 8.54235
145 7/15/11 8.54494 175 1/15/14 8.54398 206 8/15/16 8.54227
146 8/15/11 8.54491 176 2/15/14 9.45937 207 9/15/16 8.82694
147 9/15/11 8.82972 177 3/15/14 8.5439 208 10/15/16 8.54213
148 10/15/11 8.54486 178 4/15/14 8.82866 209 11/15/16 8.82679
149 11/15/11 8.82966 179 5/15/14 8.54382 210 12/15/16 8.54198
150 12/15/11 8.54481 180 6/15/14 8.82857 211 1/15/17 8.54187
181 7/15/14 8.54373
</TABLE>
FIRST UNION CAPITAL MARKETS CORP. (FUCMC) HAS PROVIDED THIS DATA AS AN
ACCOMMODATION. BY ACCEPTING THIS DATA, THE RECIPIENT AGRESS THAT FUCMC DOES NOT
GUARANTEE AND MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER EXPRESS OR
IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF FITNESS FOR A
PARTICULAR PURPOSE OR MERCHANTABILITY, WITH RESPECT TO THIS DATA OR THE
ACCURACY, CURRENCY OR COMPLETE THEREOF. BY ACCEPTING THIS DATA, THE RECIPIENT
AGREES THAT NEITHER FUCMC, ITS EMPLOYEES NOR ANY OF ITS AFFILIATES SHALL HAVE
ANY LIABILITY TO THE RECIPIENT OR ANY OTHER ENTITY CLAIMING BY OR THROUGH THE
RECIPIENT FOR ANY LOSS, INJURY, DAMAGES OR EXPENSES ARISING FROM OR OCCASIONED
BY OR THROUGH THIS DATA, THE RELIANCE THEREON BY THE RECIPIENT OR ANY OTHER
PARTY OR THE PROVISION THEREOF BY FUCMC.
THIS DATA IS FOR YOUR INFORMATION ONLY AND IS NOT AN OFFER TO SELL OR
A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES, INCLUDING ANY OF THE
SECURITIES THAT MAY BE MENTIONED IN THIS DATA. FUCMC OR ITS AFFILIATES MAY
PROVIDE ADVICE OR MAY FROM TIME TO TIME ACQUIRE, HOLD OR SELL POSITIONS IN ANY
OF THE SECURITIES THAT MAY BE MENTIONED IN THIS DATA, EITHER FOR ITS OWN ACCOUNT
OF FOR THE ACCOUNT OF OTHERS A SUBSIDIARY OF FIRST UNION CORPORATION AND IS A
MEMBER OF THE NYSE, THE NASD AND THE SIPC.
<PAGE>
[FIRST UNION]
[THE MONEY STORE]
AVAILABLE FUNDS CAP RATE
TO CALL
PRIME 15
5YCMT 15
Pool2 Step
<TABLE>
<CAPTION>
Period Date Cap Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 7/15/99 9.0508 31 1/15/02 15.28393 61 7/15/04 15.6517 91 1/15/07 15.61391
2 8/15/99 15.30016 32 2/15/02 16.92055 62 8/15/04 15.65094 92 2/15/07 17.28452
3 9/15/99 15.80981 33 3/15/02 15.28219 63 9/15/04 16.17182 93 3/15/07 15.60966
4 10/15/99 15.29946 34 4/15/02 15.79066 64 10/15/04 15.64934 94 4/15/07 16.12765
5 11/15/99 15.80906 35 5/15/02 15.28035 65 11/15/04 16.17012 95 5/15/07 15.60505
6 12/15/99 15.29871 36 6/15/02 15.7887 66 12/15/04 15.64764 96 6/15/07 16.12268
7 1/15/00 15.29831 37 7/15/02 15.27839 67 1/15/05 15.64675 97 7/15/07 15.60003
8 2/15/00 16.35293 38 8/15/02 15.27737 68 2/15/05 17.32218 98 8/15/07 15.59735
9 3/15/00 15.29749 39 9/15/02 15.78552 69 3/15/05 15.6449 99 9/15/07 16.11437
10 4/15/00 15.80695 40 10/15/02 15.27523 70 4/15/05 16.16539 100 10/15/07 15.59163
11 5/15/00 15.2966 41 11/15/02 15.78325 71 5/15/05 15.64293 101 11/15/07 16.10819
12 6/15/00 15.80601 42 12/15/02 15.27296 72 6/15/05 16.16329 102 12/15/07 15.58536
13 7/15/00 15.29566 43 1/15/03 15.27177 73 7/15/05 15.64083 103 1/15/08 15.58199
14 8/15/00 15.29516 44 2/15/03 16.90668 74 8/15/05 15.63973 104 2/15/08 16.65284
15 9/15/00 15.80447 45 3/15/03 15.26929 75 9/15/05 16.15987 105 3/15/08 15.57475
16 10/15/00 15.29412 46 4/15/03 15.77693 76 10/15/05 15.63741 106 4/15/08 16.08987
17 11/15/00 15.80336 47 5/15/03 15.26666 77 11/15/05 16.15741 107 5/15/08 15.56673
18 12/15/00 15.29302 48 6/15/03 15.77413 78 12/15/05 15.63495 108 6/15/08 16.08114
19 1/15/01 15.29244 49 7/15/03 15.26387 79 1/15/06 15.63365 109 7/15/08 15.55782
20 2/15/01 16.93025 50 8/15/03 15.26241 80 2/15/06 17.3072 110 8/15/08 15.55298
21 3/15/01 15.29123 51 9/15/03 15.7696 81 3/15/06 15.63092 111 9/15/08 16.06612
22 4/15/01 15.80028 52 10/15/03 15.25936 82 4/15/06 16.15047 112 10/15/08 15.54243
23 5/15/01 15.28994 53 11/15/03 15.76635 83 5/15/06 15.628 113 11/15/08 16.05456
24 6/15/01 15.79891 54 12/15/03 15.25611 84 6/15/06 16.14734 114 12/15/08 15.53708
25 7/15/01 15.28857 55 1/15/04 15.39179 85 7/15/06 15.62486 115 1/15/09 15.5375
26 8/15/01 15.28785 56 2/15/04 16.73489 86 8/15/06 15.6232 116 2/15/09 17.20271
27 9/15/01 15.79668 57 3/15/04 15.65456 87 9/15/06 16.14219 117 3/15/09 15.53837
28 10/15/01 15.28635 58 4/15/04 16.17567 88 10/15/06 15.61969 118 4/15/09 16.05677
29 11/15/01 15.79509 59 5/15/04 15.65317 89 11/15/06 16.13843 119 5/15/09 15.53927
30 12/15/01 15.28476 60 6/15/04 16.17419 90 12/15/06 15.61591 120 6/15/09 16.05771
Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 7/15/09 15.54019 151 1/15/12 15.55943 182 8/15/14 15.62429
122 8/15/09 15.54067 152 2/15/12 16.63345 183 9/15/14 16.14938
123 9/15/09 16.05919 153 3/15/12 15.56124 184 10/15/14 15.6328
124 10/15/09 15.54164 154 4/15/12 16.08092 185 11/15/14 16.15865
125 11/15/09 16.06021 155 5/15/12 15.56315 186 12/15/14 15.64226
126 12/15/09 15.54265 156 6/15/12 16.08295 187 1/15/15 15.64739
127 1/15/10 15.54317 157 7/15/12 15.56517 188 2/15/15 17.32992
128 2/15/10 17.2091 158 8/15/12 15.56622 189 3/15/15 15.6586
129 3/15/10 15.54424 159 9/15/12 16.08621 190 4/15/15 16.18689
130 4/15/10 16.06295 160 10/15/12 15.56842 191 5/15/15 15.67127
131 5/15/10 15.54535 161 11/15/12 16.08856 192 6/15/15 16.20085
132 6/15/10 16.06412 162 12/15/12 15.57076 193 7/15/15 15.68571
133 7/15/10 15.5465 163 1/15/13 15.57198 194 8/15/15 15.69371
134 8/15/10 15.5471 164 2/15/13 17.24253 195 9/15/15 16.22573
135 9/15/10 16.06596 165 3/15/13 15.57587 196 10/15/15 15.71161
136 10/15/10 15.54832 166 4/15/13 16.09719 197 11/15/15 16.24571
137 11/15/10 16.06725 167 5/15/13 15.58004 198 12/15/15 15.72023
138 12/15/10 15.54959 168 6/15/13 16.10165 199 1/15/16 15.7187
139 1/15/11 15.55025 169 7/15/13 15.58452 200 2/15/16 16.80097
140 2/15/11 17.2171 170 8/15/13 15.58688 201 3/15/16 15.71524
141 3/15/11 15.55161 171 9/15/13 16.10898 202 4/15/16 16.23706
142 4/15/11 16.07073 172 10/15/13 15.59188 203 5/15/16 15.71115
143 5/15/11 15.55303 173 11/15/13 16.11435 204 6/15/16 16.23567
144 6/15/11 16.07223 174 12/15/13 15.5973 205 7/15/16 15.71275
145 7/15/11 15.55452 175 1/15/14 15.60017 206 8/15/16 15.71356
146 8/15/11 15.55529 176 2/15/14 17.27494 207 9/15/16 16.23821
147 9/15/11 16.07461 177 3/15/14 15.60631 208 10/15/16 15.71524
148 10/15/11 15.55689 178 4/15/14 16.1299 209 11/15/16 16.23998
149 11/15/11 16.0763 179 5/15/14 15.613 210 12/15/16 15.71698
150 12/15/11 15.55856 180 6/15/14 16.13714 211 1/15/17 15.71788
181 7/15/14 15.62034
</TABLE>
FIRST UNION CAPITAL MARKETS CORP. (FUCMC) HAS PROVIDED THIS DATA AS
AN ACCOMMODATION. BY ACCEPTING THIS DATA, THE RECIPIENT AGRESS THAT FUCMC DOES
NOT GUARANTEE AND MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF FITNESS FOR
A PARTICULAR PURPOSE OR MERCHANTABILITY, WITH RESPECT TO THIS DATA OR THE
ACCURACY, CURRENCY OR COMPLETENESS THEREOF. BY ACCEPTING THIS DATA, THE
RECIPIENT AGREES THAT NEITHER FUCMC, ITS EMPLOYEES NOR ANY OF ITS AFFILIATES
SHALL HAVE ANY LIABILITY TO THE RECIPIENT OR ANY OTHER ENTITY CLAIMING BY OR
THROUGH THE RECIPIENT FOR ANY LOSS, INJURY, DAMAGES OR EXPENSES ARISING FROM OR
OCCASIONED BY OR THROUGH THIS DATA, THE RELIANCE THEREON BY THE RECIPIENT OR ANY
OTHER PARTY OR THE PROVISION THEREOF BY FUCMC.
THIS DATA IS FOR YOUR INFORMATION ONLY AND IS NOT AN OFFER TO SELL OR
A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES, INCLUDING ANY OF THE
SECURITIES THAT MAY BE MENTIONED IN THIS DATA. FUCMC OR ITS AFFILIATES MAY
PROVIDE ADVICE OR MAY FROM TIME TO TIME ACQUIRE, HOLD OR SELL POSITIONS IN ANY
OF THE SECURITIES THAT MAY BE MENTIONED IN THIS DATA, EITHER FOR ITS OWN ACCOUNT
OF FOR THE ACCOUNT O FUCMC IS A SUBSIDIARY OF FIRST UNION CORPORATION AND IS A
MEMBER OF THE NYSE, THE NASD AND THE SIPC.
<PAGE>
[FIRST UNION]
[THE MONEY STORE]
AVAILABLE FUNDS CAP RATE
TO CALL
PRIME 7.75
5YCMT 5.86
Pool 2 No Step
<TABLE>
<CAPTION>
Period Date Cap Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 7/15/99 9.0508 31 1/15/02 8.80144 61 7/15/04 8.83376 91 1/15/07 8.79136
2 8/15/99 8.81542 32 2/15/02 9.74376 62 8/15/04 8.83282 92 2/15/07 9.73088
3 9/15/99 9.10888 33 3/15/02 8.80018 63 9/15/04 9.12626 93 3/15/07 8.78692
4 10/15/99 8.81466 34 4/15/02 9.09285 64 10/15/04 8.83088 94 4/15/07 9.07739
5 11/15/99 9.10808 35 5/15/02 8.79887 65 11/15/04 9.12421 95 5/15/07 8.78214
6 12/15/99 8.81388 36 6/15/02 9.09147 66 12/15/04 8.82885 96 6/15/07 9.07228
7 1/15/00 8.81347 37 7/15/02 8.79751 67 1/15/05 8.82779 97 7/15/07 8.77701
8 2/15/00 9.42086 38 8/15/02 8.79681 68 2/15/05 9.77243 98 8/15/07 8.77429
9 3/15/00 8.81265 39 9/15/02 9.0893 69 3/15/05 8.8256 99 9/15/07 9.06385
10 4/15/00 9.10597 40 10/15/02 8.79537 70 4/15/05 9.11861 100 10/15/07 8.76854
11 5/15/00 8.8118 41 11/15/02 9.08778 71 5/15/05 8.82329 101 11/15/07 9.05766
12 6/15/00 9.10508 42 12/15/02 8.79386 72 6/15/05 9.11617 102 12/15/07 8.7623
13 7/15/00 8.81092 43 1/15/03 8.79309 73 7/15/05 8.82086 103 1/15/08 8.75898
14 8/15/00 8.81047 44 2/15/03 9.73433 74 8/15/05 8.8196 104 2/15/08 9.35935
15 9/15/00 9.10368 45 3/15/03 8.79149 75 9/15/05 9.11224 105 3/15/08 8.75191
16 10/15/00 8.80954 46 4/15/03 9.08369 76 10/15/05 8.81696 106 4/15/08 9.03973
17 11/15/00 9.1027 47 5/15/03 8.78983 77 11/15/05 9.10944 107 5/15/08 8.74418
18 12/15/00 8.80858 48 6/15/03 9.08193 78 12/15/05 8.81418 108 6/15/08 9.03138
19 1/15/01 8.80809 49 7/15/03 8.78809 79 1/15/06 8.81272 109 7/15/08 8.7357
20 2/15/01 9.75126 50 8/15/03 8.78719 80 2/15/06 9.75529 110 8/15/08 8.73115
21 3/15/01 8.80708 51 9/15/03 9.07915 81 3/15/06 8.80969 111 9/15/08 9.01725
22 4/15/01 9.10011 52 10/15/03 8.78534 82 4/15/06 9.10171 112 10/15/08 8.72133
23 5/15/01 8.80603 53 11/15/03 9.07719 83 5/15/06 8.80647 113 11/15/08 9.00657
24 6/15/01 9.09901 54 12/15/03 8.7834 84 6/15/06 9.09828 114 12/15/08 8.71619
25 7/15/01 8.80495 55 1/15/04 8.8035 85 7/15/06 8.80304 115 1/15/09 8.71635
26 8/15/01 8.80439 56 2/15/04 9.44765 86 8/15/06 8.80125 116 2/15/09 9.65042
27 9/15/01 9.09728 57 3/15/04 8.83729 87 9/15/06 9.09271 117 3/15/09 8.71667
28 10/15/01 8.80324 58 4/15/04 9.13098 88 10/15/06 8.79749 118 4/15/09 9.0074
29 11/15/01 9.09607 59 5/15/04 8.83556 89 11/15/06 9.0887 119 5/15/09 8.71701
30 12/15/01 8.80205 60 6/15/04 9.12916 90 12/15/06 8.79347 120 6/15/09 9.00775
Period Date Cap Period Date Cap Period Date Cap
<S> <C> <C> <C> <C> <C> <C> <C> <C>
121 7/15/09 8.71736 151 1/15/12 8.72484 182 8/15/14 8.72635
122 8/15/09 8.71754 152 2/15/12 9.32694 183 9/15/14 9.01694
123 9/15/09 9.00831 153 3/15/12 8.72556 184 10/15/14 8.72578
124 10/15/09 8.7179 154 4/15/12 9.01681 185 11/15/14 9.01633
125 11/15/09 9.0087 155 5/15/12 8.72633 186 12/15/14 8.72515
126 12/15/09 8.71829 156 6/15/12 9.01762 187 1/15/15 8.72481
127 1/15/10 8.71849 157 7/15/12 8.72714 188 2/15/15 9.65922
128 2/15/10 9.65283 158 8/15/12 8.72756 189 3/15/15 8.72407
129 3/15/10 8.7189 159 9/15/12 9.01893 190 4/15/15 9.01446
130 4/15/10 9.00974 160 10/15/12 8.72845 191 5/15/15 8.72324
131 5/15/10 8.71932 161 11/15/12 9.01988 192 6/15/15 9.01355
132 6/15/10 9.01019 162 12/15/12 8.72939 193 7/15/15 8.72231
133 7/15/10 8.71976 163 1/15/13 8.72989 194 8/15/15 8.72179
134 8/15/10 8.71999 164 2/15/13 9.66509 195 9/15/15 9.01195
135 9/15/10 9.0109 165 3/15/13 8.72963 196 10/15/15 8.72066
136 10/15/10 8.72047 166 4/15/13 9.02047 197 11/15/15 9.01069
137 11/15/10 9.0114 167 5/15/13 8.72934 198 12/15/15 8.71867
138 12/15/10 8.72096 168 6/15/13 9.02017 199 1/15/16 8.71722
139 1/15/11 8.72122 169 7/15/13 8.72904 200 2/15/16 9.31676
140 2/15/11 9.65593 170 8/15/13 8.72888 201 3/15/16 8.71403
141 3/15/11 8.72175 171 9/15/13 9.01967 202 4/15/16 9.00267
142 4/15/11 9.01276 172 10/15/13 8.72854 203 5/15/16 8.71035
143 5/15/11 8.72231 173 11/15/13 9.01931 204 6/15/16 9.00076
144 6/15/11 9.01335 174 12/15/13 8.72817 205 7/15/16 8.71048
145 7/15/11 8.72289 175 1/15/14 8.72798 206 8/15/16 8.71054
146 8/15/11 8.7232 176 2/15/14 9.6629 207 9/15/16 9.00096
147 9/15/11 9.01429 177 3/15/14 8.72756 208 10/15/16 8.71067
148 10/15/11 8.72383 178 4/15/14 9.01825 209 11/15/16 9.0011
149 11/15/11 9.01496 179 5/15/14 8.72711 210 12/15/16 8.71081
150 12/15/11 8.7245 180 6/15/14 9.01777 211 1/15/17 8.71088
181 7/15/14 8.72662 212 2/15/17 9.64427
213 3/15/17 8.71147
214 4/15/17 9.00147
215 5/15/17 8.71118
</TABLE>
FIRST UNION CAPITAL MARKETS CORP. (FUCMC) HAS PROVIDED THIS DATA AS
AN ACCOMMODATION. BY ACCEPTING THIS DATA, THE RECIPIENT AGRESS THAT FUCMC DOES
NOT GUARANTEE AND MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER, WHETHER
EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION, ANY WARRANTIES OF FITNESS FOR
A PARTICULAR PURPOSE OR MERCHANTABILITY, WITH RESPECT TO THIS DATA OR THE
ACCURACY, CURRENCY OR COMPLETE THEREOF. BY ACCEPTING THIS DATA, THE RECIPIENT
AGREES THAT NEITHER FUCMC, ITS EMPLOYEES NOR ANY OF ITS AFFILIATES SHALL HAVE
ANY LIABILITY TO THE RECIPIENT OR ANY OTHER ENTITY CLAIMING BY OR THROUGH THE
RECIPIENT FOR ANY LOSS, INJURY, DAMAGES OR EXPENSES ARISING FROM OR OCCASIONED
BY OR THROUGH THIS DATA, THE RELIANCE THEREON BY THE RECIPIENT OR ANY OTHER
PARTY OR THE PROVISION THEREOF BY FUCMC.
THIS DATA IS FOR YOUR INFORMATION ONLY AND IS NOT AN OFFER TO SELL OR
A SOLICITATION OF ANY OFFER TO BUY ANY SECURITIES, INCLUDING ANY OF THE
SECURITIES THAT MAY BE MENTIONED IN THIS DATA. FUCMC OR ITS AFFILIATES MAY
PROVIDE ADVICE OR MAY FROM TIME TO TIME ACQUIRE, HOLD OR SELL POSITIONS IN ANY
OF THE SECURITIES THAT MAY BE MENTIONED IN THIS DATA, EITHER FOR ITS OWN ACCOUNT
OF FOR THE ACCOUNT OF OTHERS A SUBSIDIARY OF FIRST UNION CORPORATION AND IS A
MEMBER OF THE NYSE, THE NASD AND THE SIPC.
