SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the fiscal year ended December 31, 1997
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
For the transition period from ______ to _______
Commission File Nos. 0-36050
HOUSEHOLD PRIVATE LABEL CREDIT CARD MASTER TRUST II
(Exact name of Registrant as specified in Department
of the Treasury, Internal Revenue Service Form SS-4)
HOUSEHOLD FINANCE CORPORATION
(Servicer of the Trust)
(Exact name as specified in Servicer's charter)
DELAWARE 36-3670374
(State or other jurisdiction of (I.R.S. Employer Identification
incorporation of Servicer) Number of Registrant
2700 SANDERS ROAD, PROSPECT HEIGHTS, ILLINOIS 60070
(Address of principal executive offices of (Zip Code)
Servicer)
Servicer's telephone number, including area code (847) 564-5000
Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the Registrant was required to file
such reports), and (2) has been subject to such filing requirements
for the past 90 days.
Yes X No _____
The aggregate principal amount of the Certificates held by non-
affiliates of the Servicer as of December 31, 1997 was
approximately $330 million.
<PAGE>
INTRODUCTORY NOTE
HRSI Funding, Inc. (the "Seller") is the seller under a
Pooling and Servicing Agreement (the "Agreement") dated as of
October 1, 1994, by and among the Seller, Household Finance
Corporation, as Servicer (the "Servicer") and Bank America National
Trust Company, as trustee (the "Trustee"), as amended by the Series
1994-2 Supplement to the Agreement dated as of October 1, 1994 (the
"Supplement"), providing for the issuance of certificates in
varying series (the "Certificates"), and is the originator of the
trust called the Household Private Label Credit Card Master Trust
II (the "Registrant" or the "Trust").
Each Certificate represents an undivided interest in a
specific pool of receivables held by the Trust. The Certificates
issued, or to be issued, may be senior ("Class A Certificates"),
subordinated ("Class B Certificates") and a Seller Certificate.
The Seller, Servicer and Trustee have established a Cash Collateral
Account and a Collateral Invested Amount for the benefit of the
holders of the Class A and Class B Certificates. The Registrant
has prepared this Form 10-K in reliance upon various no-action
letters issued by the Securities and Exchange Commission (the
"Commission") to other trusts which are substantially similar to
the Trust and as a result of the Commission's favorable response to
the Loan Application for Exemptive Order pursuant to Section 12(h)
of the Securities Exchange Act of 1934 on May 20, 1992 which the
Commission issued to the Private Label Credit Card Master Trust,
the predecessor to the Trust. Items designated herein as "Not
Applicable" have been omitted as a result of this reliance and in
anticipation of favorable action by the Commission.
<PAGE>
PART I
Item 1. Business.
Not Applicable.
Item 2. Properties.
Not Applicable.
Item 3. Legal Proceedings.
The Servicer is not aware of any material pending legal
proceedings involving either the Registrant, the Trustee,
the Seller or the Servicer with respect to the
Certificates or the Registrant's property.
Item 4. Submission of Matters to a Vote of Security Holders.
No vote or consent of the holders of the Certificates
(the "Certificateholders") was solicited for any purpose
during the year ended December 31, 1997.
PART II
Item 5. Market for Registrant's Common Equity and Related
Stockholder Matters.
To the best knowledge of the Servicer, there is no
established public trading market for the Certificates.
As of February 10, 1998, there were 19 Class A
Certificateholders (0 holders of Class A Certificates,
Series 1994-1 and 19 holders of Class A Certificates,
Series 1994-2) and 4 Class B Certificateholders (0
holders of Class B Certificates, Series 1994-1 and 4
holders of Class B Certificates, Series 1994-2), some of
whom may be holding Certificates for the accounts of
others.
Item 6. Selected Financial Data.
Not Applicable.
<PAGE>
Item 7. Management's Discussion and Analysis of Financial
Condition and Results of Operations.
Not Applicable.
Item 8. Financial Statements and Supplementary Data.
Not Applicable.
Item 9. Changes in and Disagreements with Accountants on
Accounting and Financial Disclosure.
None.
PART III
Item 10. Directors and Executive Officers of the Registrant.
Not Applicable.
Item 11. Executive Compensation.
Not Applicable.
Item 12. Security Ownership of Certain Beneficial Owners and
Management.
The following table sets forth (i) the name and address
of each entity owning more than 5% of the outstanding
principal amount of the Class A or the Class B
Certificates; (ii) the principal amount of Certificates
owned by each and (iii) the percent that the principal
amount of Certificates owned represents of the
outstanding principal amount of the Class A or the Class
B Certificates. The information set forth in the table
is based upon information obtained by the Servicer from
the Trustee and from The Depository Trust Company as of
February 10, 1998. The Servicer is not aware of any
Schedules 13D or 13G filed with the Securities and
Exchange Commission in respect of the Certificates.
<PAGE>
Amount Owned
All dollar amounts are
in thousands
Name and Address Principal Percent
Class A Certificateholders (Series 1994-2)
Bankers Trust Company $ 41,773 13.58
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
Chase Manhattan Bank $105,777 34.40
4 New York Plaza - 13th Floor
New York, NY 10004
Firstar Trust Company $ 23,850 7.76
777 East Wisconsin Avenue
Milwaukee, WI 53202
Northern Trust Company $ 30,820 10.02
801 S. Canal C-IN
Chicago, IL 60607
Prudential Securities Custody $ 24,830 8.07
111 8th Avenue - 4th Floor
New York, NY 10011
SSB - Custodian $ 42,900 13.95
Global Corp. Action Dept. JAB5W
P. O. Box 1631
Boston, MA 02105-1631
<PAGE>
Amount Owned
All dollar amounts are
in thousands
Name and Address Principal Percent
Class B Certificateholders (Series 1994-2)
Bankers Trust Company $ 6,500 28.89
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
Chase Manhattan Bank $ 8,500 37.78
4 New York Plaza - 13th Floor
New York, NY 10004
Citibank, N.A. $ 6,000 26.67
P. O. Box 30576
Tampa, KL 33630-3576
Investors Bank & Trust/ $ 1,500 6.67
M.F. Custody
100 Claredon Street
15th Floor Hancock Tower
Boston, MA 02116
<PAGE>
Item 13. Certain Relationships and Related Transactions.
None or Not Applicable.
PART IV
Item 14. Exhibits, Financial Statement Schedules, and Reports on
Form 8-K.
(a) List the following documents filed as a part of the
report:
(1) Financial Statements
Not Applicable.
(2) Financial Statement Schedules
Not Applicable.
(3) The Servicer is obligated to prepare an Annual
Statement to Certificateholders for the year
1997, and Independent Public Accountants are
required to prepare an Annual Servicing Report
pertaining to the compliance of the Servicer
with its servicing obligations pursuant to the
Agreement. Copies of said documents are or
will be filed as exhibits to this Form 10-K
when they are available.
(b) The Registrant filed the following current reports
on Form 8-K for the fourth quarter of 1997.
Date of Reports Items Covered
October 20, 1997 Item 7 -- Statement to
November 20, 1997 Certificateholders with respect
December 22, 1997 to distributions made on
October 20, 1997, November 20,
1997 and December 22, 1997.
(c) Exhibit 99. Copy of Annual Statement to
Certificateholders for the year 1997.
(d) Not Applicable.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the Servicer has duly caused this
report to be signed on behalf of the Household Private Label Credit
Card Master Trust II by the undersigned, thereunto duly authorized.
HOUSEHOLD FINANCE CORPORATION,
as Servicer of and on behalf of the
HOUSEHOLD PRIVATE LABEL CREDIT CARD MASTER TRUST II
(Registrant)
Date: February 13, 1998 By:/s/ John W. Blenke
John W. Blenke
Assistant Secretary
U:\WP\HFS088\95-10K-PLCC<PAGE>
Exhibit Index
Exhibit No.ExhibitPage No.
99Copy of Annual Statement to 11
Certificateholders for the year
ended December 31, 1997
Household Finance Corporation
HRSI Funding, Inc.
Household Private Label Credit Card Master Trust II, Series
1994-1
Original Principal Class A
307,500,000.00
Number of Class A Bonds ($1,000)
307,500
Original Principal Class B
22,500,000.00
Number of Class B Bonds ($1,000)
22,500
Distribution Date
Total 1997
Days
CLASS A
Beginning Class A Principal Balance
Beg Class A Percentage
Principal Distribution
102,500,000.00
Principal Payment Factor (per $1,000)
333.33
Ending Class A Principal Balance
Ending Class A Percentage
Class A Interest Distribution
1,526,822.92
Interest Payment Factor (per $1,000)
4.97
Total Class A Distribution Amount
104,026,822.92
Total Distribution Pymt Factor (per $1,000)
338.30
Class B
Beginning Class B Principal Balance
Beg Class B Percentage
Principal Distribution
22,500,000.00
Principal Payment Factor (per $1,000)
1,000.00
Ending Class B Principal Balance
Ending Class B Percentage
Class B Interest Distribution
707,812.50
Interest Payment Factor (per $1,000)
31.46
Total Class B Distribution Amount
23,207,812.50
Total Distribution Pymt Factor (per $1,000)
1,031.46
<PAGE>
Household Finance Corporation
HRSI Funding, Inc.
Household Private Label Credit Card Master Trust II, Series
1994-2
Original Principal Class A
307,500,000.00
Number of Class A Bonds ($1,000)
307,500
Original Principal Class B
22,500,000.00
Number of Class B Bonds ($1,000)
22,500
Distribution Date
Total 1997
Days
CLASS A
Beginning Class A Principal Balance
Beg Class A Percentage
Principal Distribution
0.00
Principal Payment Factor (per $1,000)
0.00
Ending Class A Principal Balance
Ending Class A Percentage
Class A Interest Distribution
23,985,000.00
Interest Payment Factor (per $1,000)
78.00
Total Class A Distribution Amount
23,985,000.00
Total Distribution Pymt Factor (per $1,000)
78.00
CLASS B
Beginning Class B Principal Balance
Beg Class B Percentage
Principal Distribution
0.00
Principal Payment Factor (per $1,000)
0.00
Ending Class B Principal Balance
Ending Class B Percentage
Class B Interest Distribution
1,800,000.00
Interest Payment Factor (per $1,000)
80.00
Total Class B Distribution Amount
1,800,000.00
Total Distribution Pymt Factor (per $1,000)
80.00
