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: September 9, 1996
NEIMAN MARCUS FUNDING CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
33-88098 04-2354838
(Commission File Number) (I.R.S. Employer Identification Number)
Neiman Marcus Funding Corporation
1201 Elm Street
Dallas, Texas 75201
(214) 761-2300
(Address, including Zip Code, and Telephone Number,
Including Area Code, of Registrant's Principal Executive Office)
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Item 5: Other Events
The Monthly Servicer's Certificate for the Monthly Period ended August
31, 1996 with respect to both the 7.60% Class A Asset Backed Certificates,
Series 1995-1 and the 7.75% Class B Asset Backed Certificates, Series 1995-1,
issued by The Neiman Marcus Group Credit Card Master Trust, was distributed
September 9, 1996.
The above described Monthly Servicer's Certificate is filed as Exhibit
20.1 to this Report.
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.
Dated: September 9, 1996
NEIMAN MARCUS FUNDING CORPORATION
By: /s/ Paul F. Gibbons
Name: Paul F. Gibbons
Title: Vice President and Treasurer
2<PAGE>
EXHIBIT INDEX
EXHIBIT SEQUENTIALLY
NUMBER DESCRIPTION NUMBERED PAGE
20.1 Monthly Servicer's 4
Certificate for the
Monthly Period ended
August 31, 1996
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MONTHLY SERVICER'S CERTIFICATE
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST,
SERIES 1995-1
The undersigned, a duly authorized representative of The Neiman Marcus Group,
Inc., as Servicer ("NMG"), pursuant to the Pooling and Servicing Agreement,
dated as of March 1, 1995 (as may be amended, from time to time, the
"Agreement"), as supplemented by the Series 1995-1 Supplement (as amended and
supplemented, the "Series Supplement"), each among NMG, Neiman Marcus Funding
Corporation and The Chase Manhattan Bank, N.A., does hereby certify as
follows:
1. Capitalized terms used in this Certificate have their respective
meanings as set forth in the Agreement or the Series Supplement,
as applicable.
2. NMG is, as of the date hereof, the Servicer under Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date occurring on
September 16, 1996.
5. As of the date hereof, to the best knowledge of the undersigned,
the Servicer has performed in all material respects all its
obligations under the Agreement through the Monthly Period
preceding such Distribution Date.
6. As of the date hereof, to the best knowledge of the undersigned,
no Early Amortization Event occurred on or prior to such
Distribution Date.
7. As of the date hereof, to the best knowledge of the undersigned,
no lien has been placed on any of the Receivables other than
pursuant to the Agreement.
8. The aggregate amount of Collections processed for the preceding
Monthly Period was equal to $97,510,744.67.
9. The aggregate amount of Collections of Finance Charge Receivables
(including Discounted Receivables) for the preceding Monthly
period was equal to $6,209,003.95.
10. The aggregate amount of Collections of Principal Receivables for
the preceding Monthly Period was equal to $91,301,740.72
11. The total amount to be distributed to Investor Certificateholders
on the next succeeding Distribution Date is equal to
$1,560,625.00.
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12. The amount to be distributed to Investor Certificateholders on the
next succeeding Distribution Date per $1,000 original principal
amount is equal to:
Class A 6.333
Class B 6.458
13. The amount of such distribution allocable to principal is equal to
0.000.
14. The amount of such distribution allocable to principal per $1,000
original principal amount is equal to:
Class A 0.000
Class B 0.000
15. The amount of such distribution allocable to interest is equal to
$1,560,625.00.
16. The amount of such distribution allocable to interest per $1,000
original principal amount is equal to:
Class A 6.333
Class B 6.458
Attached hereto is a true and correct copy of the Monthly Certificateholders
Statement required to be delivered by the Servicer on the date of this
Certificate pursuant to the Agreement and the Series Supplement.
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
Certificate this 9th day of September, 1996.
THE NEIMAN MARCUS GROUP, INC.
As Servicer
BY: /s/ Paul F. Gibbons
Name: Paul F. Gibbons
Title: Vice President & Treasurer
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<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
1.
Pursuant to the Pooling and Servicing Agreement, dated as of March 1, 1995 (as may be amended, from
time to time, the "Agreement"), as supplemented by the Series 1995-1 Supplement (as amended and
Supplemented, the "Series Supplement"), each among The Neiman Marcus Group, Inc., as Servicer, Neiman
Marcus Funding Corporation, as Seller and The Chase Manhattan Bank, N.A., as Trustee, the Servicer is
required to prepare certain information each month regarding distributions to Certificateholders and
the performance of the Trust. The information with respect to the applicable Distribution Date and
Monthly Period is set forth below.
Monthly Period: August-96
Distribution Date: September-96
Period 18
(Revolving = 0-56,
Controlled Amortization = 57-62)
<CAPTION>
A. ORIGINAL DEAL PARAMETERS
<S> <C> <C>
(a) Class A Initial Invested Amount $225,000,000.00 75.00%
(b) Class B Initial Invested Amount $21,000,000.00 7.00%
(c) Class C Initial Invested Amount $54,000,000.00 18.00%
(d) Total Initial Invested Amount $300,000,000.00
(e) Class A Certificate Rate 7.60%
(f) Class B Certificate Rate 7.75%
(g) Class C Certificate Rate 0.00%
(h) Servicing Fee Percentage 2.00%
(i) Discount Percentage 2.00%
I. RECEIVABLES IN THE TRUST
(a) Beginning of the Period Principal Receivables $361,083,601.93
(b) Beginning of the Period Finance Charge Receivables $4,898,226.42
(c) Beginning of the Period Discounted Receivables $7,369,053.10
(d) Beginning of the Period Total Receivables (a + b + c) $373,350,881.45
(e) Removed Principal Receivables $0.00
(f) Removed Finance Charge Receivables $0.00
(g) Removed Total Receivables (e + f) $0.00
(h) Additional Principal Receivables $0.00
(i) Additional Finance Charge Receivables $0.00
(j) Additional Total Receivables (h + i) $0.00
(k) End of Period Principal Receivables $371,309,225.17
(l) End of Period Finance Charge Receivables $4,684,221.72
(m) End of Period Discounted Receivables $7,332,500.07
(n) End of Period Total Receivables (k+l + m ) $383,325,946.96
</TABLE>
<PAGE>
<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
2.
<CAPTION>
II. INVESTED AMOUNTS AND ALLOCATION PERCENTAGES
<S> <C> <C> <C>
(a) Class A Initial Invested Amount $225,000,000.00 75.00%
(b) Class B Initial Invested Amount $21,000,000.00 7.00%
(c) Class C Initial Invested Amount $54,000,000.00 18.00%
(d) Total Initial Invested Amount (a + b + c) $300,000,000.00
(e) Class A Invested Amount (a - (X.d)) $225,000,000.00 75.00%
(f) Class B Invested Amount (b - (X.h)) $21,000,000.00 7.00%
(g) Class C Invested Amount (c - (X.l)) $54,000,000.00 18.00%
(h) Total Invested Amount (e + f + g) $300,000,000.00
(i) Floating Allocation Percentage (h / (I.a)) 83.08%
(j) Class A Floating Allocation Percentage (e / (I.a)) 62.31%
(K) Class B Floating Allocation Percentage (f / (I.a)) 5.82%
(l) Class C Floating Allocation Percentage (g / (I.a)) 14.95%
(m) Principal Allocation Percentage (h / (I.a)) 83.08%
(n) Class A Principal Allocation Percentage (e / (I.a)) 62.31%
(o) Class B Principal Allocation Percentage (f / (I.a)) 5.82%
(p) Class C Principal Allocation Percentage (g / (I.a)) 14.95%
(q) Servicing Fee (h * (A.h)) 2.00% $6,000,000
(r) Investor Defaulted Amount (i * (IV.o)) $1,346,718
III. SELLER'S INTEREST, RETAINED INTEREST AND SPECIAL FUNDING ACCOUNT
(a) Beginning Seller's Interest (I.a - II.h) $61,083,601.93
(b) Ending Seller's Interest (I.k - II.h) $71,309,225.17
(c) Required Seller's Interest $0.00
(d) Retained Interest (II.g + III.b) $125,309,225.17
(e) Required Retained Interest $6,000,000.00
(f) Required Principal Balance $300,000,000.00
(g) Amount on deposit in Special Funding Account $0.00
</TABLE>
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<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
3.
<CAPTION>
IV. PERFORMANCE SUMMARY
COLLECTIONS:
<S> <C> <C>
(a) Collections of Principal Receivables $91,301,740.72
(b) Collections of Finance Charge Receivables $4,345,703.12
(c) Collections of Discount Option Receivables $1,863,300.83
(d) Total Finance Charge Collections (b+c) $6,209,003.95
(e) Total Collections (a+b+c) $97,510,744.67
DELINQUENCIES AND LOSSES:
(f) End of the month delinquencies:
(g) 30 days delinquent $61,266,402
(h) 60 days delinquent $15,335,542
(i) 90 days delinquent $6,368,544
(j) 120 + days delinquent $8,189,928
(k) Total 30 + days delinquent (g + h + i + j ) $91,160,416
(l) Gross Charge-Offs during the month $2,136,187.05
(m) Recoveries during the month $515,261.20
(n) Net Charge-Offs during the month (l - m) $1,620,925.85
(o) Defaulted Amount $1,620,926
V. EMPLOYEE AND NON-U.S. ACCOUNTS
Amount # of Accounts
(a) Employee Accounts at end of month $7,551,621 11,202
(b) as a percentage of total (a / (e)) 1.97% 0.28%
(c) Non-US Accounts at end of month $7,822,831 53,564
(d) as a percentage of total (c / (e)) 2.04% 1.35%
(e) Total amount/number of Accounts in Trust (at end of month) $383,325,946.96 3,969,164
</TABLE>
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<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
4.
<CAPTION>
VI. AVAILABLE SERIES 1995-1 FINANCE CHARGE COLLECTIONS
<S> <C>
(a) Available Series 1995-1 Finance Charge Collections(((IV.d))*II.i) $5,158,642
(b) Class A Interest (((A.e)*(II.e)) / 12) $1,425,000
(c) Class B Interest (((A.f)*(II.f)) / 12) $135,625
(d) Servicing Fee [if not Neiman Marcus] $0
(e) AB Investor Defaulted Amount ((IV.o * (II.j + II.k))) $1,104,309
(f) Class C Investor Defaulted Amount ((IV.o * (II.l)) $242,409
(g) Adjustment Payment Shortfalls $0
(h) Reimbursement of Class A Investor Charge-Offs $0
(i) Unpaid Class B Interest $0
(j) Reimbursement of Class B Investor Charge-Offs $0
(k) Reimbursement of Class C Investor Charge-Offs $0
(l) Servicing Fee [if Neiman Marcus] $500,000
(m) Class C Interest $0
(n) Total Excess Finance Charge Collections $1,751,300
(a-b-c-d-e-f-g-h-i-j-k-l-m)
</TABLE>
<PAGE>
<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
5.
<CAPTION>
VII. YIELD and BASE RATE
Base Rate
(The sum of the Class A Certificate Rate, Class B Certificate Rate, and Class C Certificate
Rate weighted by the unpaid principal amount of each, plus the servicing fee rate)
<S> <C>
(a) Base Rate (current month) 8.24%
(b) Base Rate (prior month) 8.24%
(c) Base Rate (2 months ago) 8.24%
(d) 3 Month Average Base Rate 8.24%
Portfolio Yield
(Series 1995-1 Finance Charge Collections minus the investor defaulted amount/total invested amount)
(e) Portfolio Yield (current month) 15.25%
(f) Portfolio Yield (prior month) 13.41%
(g) Portfolio Yield (2 months ago) 13.71%
(h) 3 Month Average Portfolio Yield 14.12%
VIII. PORTFOLIO PERFORMANCE RATES
(a) Net Charge-Offs (% of Principal Receivables Outstanding (at beginning 5.39%
of month))
(b) Monthly Payment Rate (% of Total Receivables Outstanding (at beginning 26.12%
of month))
(c) Gross Yield to Investors (annualized) 19.96%
(d) Portfolio Yield (3 month average (annualized)) 14.12%
(e) Base Rate (3 month average) 8.24%
(f) Excess Finance Charge Collections % (d-e) 5.88%
</TABLE>
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<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
6.
<CAPTION>
IX. PRINCIPAL COLLECTIONS
<S> <C>
(a) Class A Principal Allocation Percentage (II.e/I.a) 62.31%
(b) Class A Monthly Principal $0.00
(c) Class B Principal Allocation Percentage (II.f/I.a) 5.82%
(d) Class B Monthly Principal $0.00
(e) Class C Principal Allocation Percentage (II.g/I.a) 14.95%
(f) Class C Monthly Principal $0.00
(g) Total Monthly Principal (b + d + f) $0
(h) Reallocated Principal Collections $0.00
(i) Shared Principal Collections allocable from other Series $0.00
X. INVESTOR CHARGE-OFFS
CLASS A INVESTOR CHARGE-OFFS
(a) Class A Investor Charge-Offs $0.00
(b) Class A Investor Charge-Offs per $1,000 original certificate principal amount $0.00
(c) Total amount reimbursed in respect of Class A Investor Charge-Offs $0.00
(d) The amount, if any, by which the outstanding principal balance of the $0.00
Class A Certificates exceeds the Class A Invested Amount after giving
effect to all transactions on such Distribution Date.
CLASS B INVESTOR CHARGE-OFFS
(e) Class B Investor Charge-Offs $0.00
(f) Class B Investor Charge-Offs per $1,000 original certificate principal amount $0.00
(g) Total amount reimbursed in respect of Class B Investor Charge-Offs $0.00
(h) The amount, if any, by which the outstanding principal balance of the $0.00
Class B Certificates exceeds the Class B Invested Amount after giving
effect to all transactions on such Distribution Date.
CLASS C INVESTOR CHARGE-OFFS
(i) Class C Investor Charge-Offs $0.00
(j) Class C Investor Charge-Offs per $1,000 original certificate principal amount $0.00
(k) Total amount reimbursed in respect of Class C Investor Charge-Offs $0.00
(l) The amount, if any, by which the outstanding principal balance of the $0.00
Class C Certificates exceeds the Class C Invested Amount after giving
effect to all transactions on such Distribution Date.
</TABLE>
<PAGE>
<TABLE>
MONTHLY CERTIFICATEHOLDER'S STATEMENT
THE NEIMAN MARCUS GROUP, INC.
NEIMAN MARCUS GROUP CREDIT CARD MASTER TRUST
SERIES 1995-1
7.
<CAPTION>
XI. AMORTIZATION
<S> <C>
(a) Cumulative Class A principal paid (as of prior distribution dates)
(b) Class A Principal Payments $0.00
(c) Total Class A Principal Paid (a + b) $0.00
(d) Cumulative Class B principal paid (as of prior distribution dates)
(e) Class B Principal Payments $0.00
(f) Total Class B Principal Paid (d + e) $0.00
(g) Cumulative Class C Principal Paid (as of prior distribution dates)
(h) Class C Principal Payments $0.00
(i) Total Class C Principal Paid (g + h) $0.00
The Neiman Marcus Group, Inc., as Servicer
By: /s/ Paul F. Gibbons
Name: Paul F. Gibbons
Title: Vice President and Treasurer
</TABLE>
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