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 19, 2000
Universal Bank, N.A.
(Originator of the Universal Card Master Trust)
Universal Card Master Trust
(Issuer of the Asset Backed Certificates)
(Exact name of registrant as specified in its charter)
United States of America 33-93806 58-1885168
(State or Other (Commission File (IRS Employer
Jurisdiction of Number) Identification
Incorporation) Number)
200 Brookstone Centre, Suite 110
Columbus, GA 31904 31904
(Address of Principal Executive Office) (Zip Code)
Registrant s telephone number, including area code (706) 562-2200
N/A
(Former Name or Former Address, if Changed Since Last Report)
1
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Items 1-4. Not Applicable
Item 5. The Certificateholder Statements for the month ending
May 31, 2000 for the Universal Card Master Trust Series
1995-2, Series 1995-3, Series 1996-1, Series 1996-3, and
Series 1997-1 Certificates were distributed on June 19,
2000.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits 20.1,
20.2, 20.3, 20.4, and 20.5.
Exhibit 20.1 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1995-2.
Exhibit 20.2 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1995-3.
Exhibit 20.3 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1996-1.
Exhibit 20.4 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1996-3.
Exhibit 20.5 Monthly Servicing Report dated
June 19, 2000 with respect
to the Universal Card Master Trust
Series 1997-1.
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 hereunto duly authorized.
UNIVERSAL BANK, N.A.
By: /s/ Meridith Jarrell
Name: Meridith Jarrell
Title: President & Chief
Operating Officer
2
<PAGE>
EXHIBIT INDEX
Exhibit Description Page
20.1 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1995-2.
20.2 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1995-3.
20.3 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1996-1.
20.4 Monthly Servicing Report dated
June 19, 2000 with respect to the
Universal Card Master Trust
Series 1996-3.
20.5 Monthly Servicing Report dated
June 19, 2000 with
respect to the Universal Card Master Trust
Series 1997-1.
3
<PAGE>
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the related
Distribution Date.
A. Information Regarding the Total Trust
1. Trust Portfolio Yield ...................... 14.79%
Total Yield Component................... 18.26%
Net Credit Loss Component............... 3.46%
Recoveries.............................. 0.48%
2. Principal Purchase Rate..................... 15.65%
3. Principal Payment Rate...................... 16.20%
4. Aggregate Amount of Principal Receivables in the Trust:
Beginning of Due Period................ $ 13,453,564,013
Weighted Average (used for mid-month addition) $ 0
Lump Sum Addition ..................... $ 0
End of Due Period ..................... $ 13,301,489,615
Transferor's Interest ................. $ 2,151,489,615
Aggregate Invested Amount of all Series: $ 11,150,000,000
5. Delinquencies (Aggregate outstanding balances in the Accounts that
were delinquent by the time periods listed below as of the close of
business of the month preceding the Distribution Date, as a percentage
of aggregate Receivables as of the last day of the Due Period) :
Current................................... $ 12,707,559,325
5-34 days delinquent...................... $ 610,183,033
35-64 days delinquent..................... $ 158,464,754
65-94 days delinquent..................... $ 100,669,658
95-124 days delinquent.................... $ 76,534,081
125-154 days delinquent ................. $ 60,354,834
155-184 days delinquent................... $ 43,342,458
Current................................... 92.37%
5-34 days delinquent .................... 4.44%
35-64 days delinquent .................... 1.15%
65-94 days delinquent ................... 0.73%
95-124 days delinquent ................... 0.56%
125-154 days delinquent .................. 0.44%
155-184 days delinquent .................. 0.31%
35+ days delinquent ...................... 3.19%
<PAGE>
4
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust
For the Due Period Ending May 31, 2000
B. Information Regarding Group 1
(Percentage Basis)
1. Portfolio Yield 14.79%
2. Weighted Average Certificate Rate 6.55%
3. Weighted Average Investor Fee Rates 1.87%
C. Information Regarding Group 1
(Dollars Basis)
1. Total Investor Collections $ 664,453,034
Principal Collections $ 607,399,679
Finance Charge Collections $ 57,053,355
2. Investor Default Amount $ 10,823,947
3. Investor Monthly Interest $ 22,503,602
4. Investor Monthly Fees $ 5,843,750
<PAGE>
5
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust
For the Due Period Ending May 31, 2000
B. Information Regarding Group 2
(Percentage Basis)
1. Portfolio Yield 14.79%
2. Weighted Average Certificate Rate 6.01%
3. Weighted Average Investor Fee Rates 1.87%
C. Information Regarding Group 2
(Dollars Basis)
1. Total Investor Collections $ 132,890,607
Principal Collections $ 121,479,936
Finance Charge Collections $ 11,410,671
2. Investor Default Amount $ 2,164,789
3. Investor Monthly Interest $ 3,777,738
4. Investor Monthly Fees $ 1,168,750
<PAGE>
6
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1995-3
1. Total Investor Collections $ 132,865,004
Principal Collections $ 121,479,936
Reallocated Finance Charge Collections $ 11,385,069
2. Investor Default Amount $ 2,164,789
3. Investor Monthly Interest $ 4,475,118
4. Investor Monthly Servicing Fee $ 1,168,750
5. Excess Finance Charge Collections $ 3,577,114
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Levels:
Current Month
1. Series Adjusted Portfolio Yield - current month 14.75%
2. Base Rate - current month 9.03%
Coupon Component 7.16%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 5.72%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 14.05%
5. Base Rate - 3 month average 8.57%
Coupon Component 6.70%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.48%
Database: UCSPROD
<PAGE>
7
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1995-3
1a. Class A Invested Amount $ 652,500,000
1b. Class B Invested Amount $ 45,000,000
1c. CIA Invested Amount $ 52,500,000
2a. Class A Monthly Interest $ 3,870,616
2b. Class B Monthly Interest $ 271,477
2c. CIA Monthly Interest $ 333,025
3a. Balance in the Class A Interest Funding Account $ 7,389,359
3b. Balance in the Class B Interest Funding Account $ 518,273
3c. Balance in the CIA Interest Funding Account $ 333,025
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
2
6a. Class A Principal Deposit to PFA $ 0
2
6b. Class B Principal Deposit to PFA $ 0
2
6c. CIA Principal Deposit to PFA $ 0
2
7a. Balance in Class A Principal Funding Account $ 0
2
7b. Balance in Class B Principal Funding Account $ 0
2
7c. Balance in CIA Principal Funding Account $ 0
*2
Applicable during the Accumulation Period and any Early Amortization
Period.
<PAGE>
8
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
3
E. Information Regarding Charge-offs and Distributions to Certificateholders
1a. The total amount of the distribution to Class A Certificateholders on
the Payment Date $ 0
1b. The total amount of the distribution to Class B Certificateholders on
the Payment Date $ 0
1c. The total amount of the distribution to CIA provider on the Payment
Date $ 333,025
2a. The amount of the distribution set forth in item 1a. above in respect
to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1b. above in respect
of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1c. above in respect
of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1a. above in respect
of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1b. above in respect
of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1c. above in respect
of interest on the CIA $ 333,025
4a. The amount, if any, by which the outstanding principal balance of the
Class A certificates exceeds the Class A Invested Amount as of the end of
the
Record Date with respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal balance of the
Class B certificates exceeds the Class B Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal balance of the
CIA exceeds the CIA Invested Amount as of the end of the Record Date
with respect to the Payment Date $ 0
*3
The following information, as applicable, is included only on Payment
Date.
<PAGE>
9
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card
Services Corp. ("UCS"), as a Servicer pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the "Pooling
and Servicing Agreement"), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the "Trustee"), does hereby certify the
information set forth below.
1. Capitalized terms used in the Certificate have
their respective meanings as set forth in the
Agreement or Series Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date
hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occuring on June 19, 2000
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 Due Period
preceeding such Distribution Date.
6. As of the date hereof, to the best knowledge of
the undersigned, no Amortization Event has been
deemed to have occurred on or prior to such
Distribution Date.
7. As of 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.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 13th day of
June 2000
Universal Card Services Corp.,
Servicer
By: /s/ Andrew Lubliner
Name: Andrew Lubliner
Title: Servicing Officer
<PAGE>
10
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1996-1
1. Total Investor Collections $ 177,101,777
Principal Collections $ 161,973,248
Reallocated Finance Charge Collections $ 15,128,529
2. Investor Default Amount $ 2,886,386
3. Investor Monthly Interest $ 5,915,261
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,769,477
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Levels:
Current Month
1. Series Adjusted Portfolio Yield - current month 14.69%
2. Base Rate - current month 8.97%
Coupon Component 7.10%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 5.72%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 13.99%
5. Base Rate - 3 month average 8.51%
Coupon Component 6.64%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.48%
Database: UCSPROD
<PAGE>
11
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1996-1
1a. Class A Invested Amount $ 850,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 4,991,536
2b. Class B Monthly Interest $ 479,692
2c. CIA Monthly Interest $ 444,033
3a. Balance in the Class A Interest Funding Account $ 9,529,297
3b. Balance in the Class B Interest Funding Account $ 915,775
3c. Balance in the CIA Interest Funding Account $ 444,033
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
2
6a. Class A Principal Deposit to PFA $ 0
2
6b. Class B Principal Deposit to PFA $ 0
2
6c. CIA Principal Deposit to PFA $ 0
2
7a. Balance in Class A Principal Funding Account $ 0
2
7b. Balance in Class B Principal Funding Account $ 0
2
7c. Balance in CIA Principal Funding Account $ 0
*2
Applicable during the Accumulation Period and any Early Amortization
Period.
<PAGE>
12
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
3
E. Information Regarding Charge-offs and Distributions to Certificateholders
1a. The total amount of the distribution to Class A Certificateholders on
the Payment Date $ 0
1b. The total amount of the distribution to Class B Certificateholders on
the Payment Date $ 0
1c. The total amount of the distribution to CIA provider on the Payment
Date $ 444,033
2a. The amount of the distribution set forth in item 1a. above in respect
to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1b. above in respect
of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1c. above in respect
of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1a. above in respect
of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1b. above in respect
of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1c. above in respect
of interest on the CIA $ 444,033
4a. The amount, if any, by which the outstanding principal balance of the
Class A certificates exceeds the Class A Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal balance of the
Class B certificates exceeds the Class B Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal balance of the
CIA exceeds the CIA Invested Amount as of the end of the Record Date
with respect to the Payment Date $ 0
*3
The following information, as applicable, is included only on Payment
Date.
<PAGE>
13
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card
Services Corp. ("UCS"), as a Servicer pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the "Pooling
and Servicing Agreement"), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the "Trustee"), does hereby certify the
information set forth below.
1. Capitalized terms used in the Certificate have
their respective meanings as set forth in the
Agreement or Series Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date
hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occuring on June 19, 2000
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 Due Period
preceeding such Distribution Date.
6. As of the date hereof, to the best knowledge of
the undersigned, no Amortization Event has been
deemed to have occurred on or prior to such
Distribution Date.
7. As of 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.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 13th day of
June 2000
Universal Card Services Corp.,
Servicer
By: /s/ Andrew Lubliner
Name: Andrew Lubliner
Title: Servicing Officer
<PAGE>
14
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1996-3
1. Total Investor Collections $ 176,995,730
Principal Collections $ 161,973,248
Reallocated Finance Charge Collections $ 15,022,482
2. Investor Default Amount $ 2,886,386
3. Investor Monthly Interest $ 5,809,215
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,794,396
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Levels:
Current Month
1. Series Adjusted Portfolio Yield - current month 14.59%
2. Base Rate - current month 8.84%
Coupon Component 6.97%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 5.75%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 13.95%
5. Base Rate - 3 month average 8.47%
Coupon Component 6.60%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.48%
Database: UCSPROD
<PAGE>
15
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1996-3
1a. Class A Invested Amount $ 850,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 4,887,323
2b. Class B Monthly Interest $ 474,650
2c. CIA Monthly Interest $ 447,242
3a. Balance in the Class A Interest Funding Account $ 13,921,465
3b. Balance in the Class B Interest Funding Account $ 1,352,033
3c. Balance in the CIA Interest Funding Account $ 447,242
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
2
6a. Class A Principal Deposit to PFA $ 0
2
6b. Class B Principal Deposit to PFA $ 0
2
6c. CIA Principal Deposit to PFA $ 0
2
7a. Balance in Class A Principal Funding Account $ 0
2
7b. Balance in Class B Principal Funding Account $ 0
2
7c. Balance in CIA Principal Funding Account $ 0
*2
Applicable during the Accumulation Period and any Early Amortization
Period.
<PAGE>
16
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
3
E. Information Regarding Charge-offs and Distributions to Certificateholders
1a. The total amount of the distribution to Class A Certificateholders on
the Payment Date $ 13,921,465
1b. The total amount of the distribution to Class B Certificateholders on
the Payment Date $ 1,352,033
1c. The total amount of the distribution to CIA provider on the Payment
Date $ 447,242
2a. The amount of the distribution set forth in item 1a. above in respect
to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1b. above in respect
of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1c. above in respect
of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1a. above in respect
of interest on the Class A Certificates $ 13,921,465
3b. The amount of the distribution set forth in item 1b. above in respect
of interest on the Class B Certificates $ 1,352,033
3c. The amount of the distribution set forth in item 1c. above in respect
of interest on the CIA $ 447,242
4a. The amount, if any, by which the outstanding principal balance of the
Class A certificates exceeds the Class A Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal balance of the
Class B certificates exceeds the Class B Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal balance of the
CIA exceeds the CIA Invested Amount as of the end of the Record Date
with respect to the Payment Date $ 0
*3
The following information, as applicable, is included only on Payment
Date.
<PAGE>
17
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1996-3
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card
Services Corp. ("UCS"), as a Servicer pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the "Pooling
and Servicing Agreement"), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the "Trustee"), does hereby certify the
information set forth below.
1. Capitalized terms used in the Certificate have
their respective meanings as set forth in the
Agreement or Series Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date
hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occuring on June 19, 2000
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 Due Period
preceeding such Distribution Date.
6. As of the date hereof, to the best knowledge of
the undersigned, no Amortization Event has been
deemed to have occurred on or prior to such
Distribution Date.
7. As of 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.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 13th day of
June 2000
Universal Card Services Corp.,
Servicer
By: /s/ Andrew Lubliner
Name: Andrew Lubliner
Title: Servicing Officer
<PAGE>
18
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1997-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1997-1
1. Total Investor Collections $ 177,490,523
Principal Collections $ 161,973,248
Reallocated Finance Charge Collections $ 15,517,276
2. Investor Default Amount $ 2,886,386
3. Investor Monthly Interest $ 6,304,008
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,816,992
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Levels:
Current Month
1. Series Adjusted Portfolio Yield - current month 15.22%
2. Base Rate - current month 9.43%
Coupon Component 7.56%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 5.79%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 14.09%
5. Base Rate - 3 month average 8.60%
Coupon Component 6.73%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 5.48%
Database: UCSPROD
<PAGE>
19
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1997-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1997-1
1a. Class A Invested Amount $ 850,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 5,337,292
2b. Class B Monthly Interest $ 516,267
2c. CIA Monthly Interest $ 450,450
3a. Balance in the Class A Interest Funding Account $ 5,337,292
3b. Balance in the Class B Interest Funding Account $ 516,267
3c. Balance in the CIA Interest Funding Account $ 450,450
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
2
6a. Class A Principal Deposit to PFA $ 0
2
6b. Class B Principal Deposit to PFA $ 0
2
6c. CIA Principal Deposit to PFA $ 0
2
7a. Balance in Class A Principal Funding Account $ 0
2
7b. Balance in Class B Principal Funding Account $ 0
2
7c. Balance in CIA Principal Funding Account $ 0
*2
Applicable during the Accumulation Period and any Early Amortization
Period.
<PAGE>
20
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1997-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
3
E. Information Regarding Charge-offs and Distributions to Certificateholders
1a. The total amount of the distribution to Class A Certificateholders on
the Payment Date $ 0
1b. The total amount of the distribution to Class B Certificateholders on
the Payment Date $ 0
1c. The total amount of the distribution to CIA provider on the Payment
Date $ 450,450
2a. The amount of the distribution set forth in item 1a. above in respect
to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1b. above in respect
of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1c. above in respect
of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1a. above in respect
of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1b. above in respect
of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1c. above in respect
of interest on the CIA $ 450,450
4a. The amount, if any, by which the outstanding principal balance of the
Class A certificates exceeds the Class A Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal balance of the
Class B certificates exceeds the Class B Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal balance of the
CIA exceeds the CIA Invested Amount as of the end of the Record Date
with respect to the Payment Date $ 0
*3
The following information, as applicable, is included only on Payment
Date.
<PAGE>
21
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1997-1
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card
Services Corp. ("UCS"), as a Servicer pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the "Pooling
and Servicing Agreement"), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the "Trustee"), does hereby certify the
information set forth below.
1. Capitalized terms used in the Certificate have
their respective meanings as set forth in the
Agreement or Series Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date
hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occuring on June 19, 2000
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 Due Period
preceeding such Distribution Date.
6. As of the date hereof, to the best knowledge of
the undersigned, no Amortization Event has been
deemed to have occurred on or prior to such
Distribution Date.
7. As of 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.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 13th day of
June 2000
Universal Card Services Corp.,
Servicer
By: /s/ Andrew Lubliner
Name: Andrew Lubliner
Title: Servicing Officer
<PAGE>
22
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-2
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
C2. Information Regarding Series 1995-2
1. Total Investor Collections $ 132,890,607
Principal Collections $ 121,479,936
Reallocated Finance Charge Collections $ 11,410,671
2. Investor Default Amount $ 2,164,789
3. Investor Monthly Interest $ 3,777,738
4. Investor Monthly Servicing Fee $ 1,168,750
5. Excess Finance Charge Collections $ 4,300,044
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Levels:
Current Month
1. Series Adjusted Portfolio Yield - current month 14.79%
2. Base Rate - current month 7.91%
Coupon Component 6.04%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 6.88%
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 13.99%
5. Base Rate - 3 month average 7.87%
Coupon Component 6.00%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 6.11%
Database: UCSPROD
<PAGE>
23
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-2
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
D. Information Regarding Series 1995-2
1a. Class A Invested Amount $ 675,000,000
1b. Class B Invested Amount $ 35,625,000
1c. CIA Invested Amount $ 39,375,000
2a. Class A Monthly Interest $ 3,346,875
2b. Class B Monthly Interest $ 181,094
2c. CIA Monthly Interest $ 249,769
3a. Balance in the Class A Interest Funding Account $ 3,346,875
3b. Balance in the Class B Interest Funding Account $ 181,094
3c. Balance in the CIA Interest Funding Account $ 249,769
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
2
6a. Class A Principal Deposit to PFA $ 0
2
6b. Class B Principal Deposit to PFA $ 0
2
6c. CIA Principal Deposit to PFA $ 0
2
7a. Balance in Class A Principal Funding Account $ 0
2
7b. Balance in Class B Principal Funding Account $ 0
2
7c. Balance in CIA Principal Funding Account $ 0
*2
Applicable during the Accumulation Period and any Early Amortization
Period.
<PAGE>
24
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-2
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
3
E. Information Regarding Charge-offs and Distributions to Certificateholders
1a. The total amount of the distribution to Class A Certificateholders on
the Payment Date $ 3,346,875
1b. The total amount of the distribution to Class B Certificateholders on
the Payment Date $ 181,094
1c. The total amount of the distribution to CIA provider on the Payment
Date $ 249,769
2a. The amount of the distribution set forth in item 1a. above in respect
to principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1b. above in respect
of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1c. above in respect
of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1a. above in respect
of interest on the Class A Certificates $ 3,346,875
3b. The amount of the distribution set forth in item 1b. above in respect
of interest on the Class B Certificates $ 181,094
3c. The amount of the distribution set forth in item 1c. above in respect
of interest on the CIA $ 249,769
4a. The amount, if any, by which the outstanding principal balance of the
Class A certificates exceeds the Class A Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal balance of the
Class B certificates exceeds the Class B Invested Amount as of the end of
the Record Date with respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal balance of the
CIA exceeds the CIA Invested Amount as of the end of the Record Date
with respect to the Payment Date $ 0
*3
The following information, as applicable, is included only on Payment
Date.
<PAGE>
25
Universal Bank, N.A., Transferor
Universal Card Services Corp., Servicer
Universal Card Master Trust, Series 1995-2
For the Due Period Ending May 31, 2000
This Certificate relates to the Due Period ending May 31, 2000 and the
related Distribution Date.
The undersigned, a duly authorized representative of Universal Card
Services Corp. ("UCS"), as a Servicer pursuant to the Pooling and Servicing
Agreement dated as of August 1, 1995 (as amended and supplemented, the "Pooling
and Servicing Agreement"), among UCS, Universal Bank, N.A., as Transferor and
Bankers Trust Company, as Trustee (the "Trustee"), does hereby certify the
information set forth below.
1. Capitalized terms used in the Certificate have
their respective meanings as set forth in the
Agreement or Series Supplement, as applicable.
2. Universal Card Services Corp. is, as of the date
hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occuring on June 19, 2000
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 Due Period
preceeding such Distribution Date.
6. As of the date hereof, to the best knowledge of
the undersigned, no Amortization Event has been
deemed to have occurred on or prior to such
Distribution Date.
7. As of 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.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 13th day of
June 2000
Universal Card Services Corp.,
Servicer
By: /s/ Andrew Lubliner
Name: Andrew Lubliner
Title: Servicing Officer
<PAGE>
26
