<PAGE> 1
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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 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): November 18, 1996
TL LEASE FUNDING CORP. IV
(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)
DELAWARE 33-95108 51-0366091
(STATE OR OTHER JURISDICTION (COMMISSION (IRS EMPLOYER
OF INCORPORATION) FILE NUMBER) IDENTIFICATION NUMBER)
c/o The Corporation Trust Company
1209 Orange Street
Wilmington, Delaware 19801
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE)
Registrant's telephone number, including area code: (302) 658-7851
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Item 5. Other Events.
Set forth below is certain additional payment and prepayment information
in connection with certain Class A Notes to be issued by TLFC IV Equipment
Lease Trust 1996-1 as described in the Preliminary Prospectus Supplement, dated
November 14, 1996, to Prospectus, dated November 14, 1996.
The following is for information purposes only. Under no circumstances is
it to be used or considered an offer to sell, or a solicitation of an offer to
buy any security. Results based on hypothetical projections or past
performance have inherent limitations. There is no certainty that the
parameters and assumptions used can be duplicated.
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TLFC IV Equipment Lease Trust 1996-1 CPR: 0.00%
Class A Certificate Cashflows Par: 5,000,000
A Coupon: 6.000%
Accrued: 5,000
Settlement: 26-Nov-96
1st Pay: 20-Dec-96
B Coupon: 6.69%
Discount Rate: 7.07%
<TABLE>
<CAPTION>
Beg. Bal Principal Interest
--------- --------- --------
<S> <C> <C> <C>
Closing 5,000,000
12/20/96 4,853,999 146,001 25,000
01/20/97 4,688,393 165,607 24,270
02/20/97 4,524,214 164,179 23,442
03/20/97 4,359,431 164,784 22,621
04/20/97 4,196,219 163,212 21,797
05/20/97 4,035,946 160,273 20,981
06/20/97 3,877,248 158,698 20,180
07/20/97 3,719,972 157,276 19,386
08/20/97 3,566,910 153,062 18,600
09/20/97 3,415,644 151,265 17,835
10/20/97 3,268,131 147,513 17,078
11/20/97 3,123,775 144,357 16,341
12/20/97 2,980,751 143,024 15,619
01/20/98 2,838,355 142,395 14,904
02/20/98 2,699,156 139,199 14,192
03/20/98 2,560,328 138,828 13,496
04/20/98 2,425,093 135,235 12,802
05/20/98 2,291,800 133,293 12,125
06/20/98 2,160,887 130,914 11,459
07/20/98 2,032,182 128,705 10,804
08/20/98 1,908,341 123,840 10,161
09/20/98 1,789,200 119,141 9,542
10/20/98 1,674,508 114,693 8,946
11/20/98 1,564,440 110,068 8,373
12/20/98 1,457,741 106,699 7,822
01/20/99 1,355,437 102,304 7,289
02/20/99 1,256,731 98,706 6,777
03/20/99 1,161,570 95,161 6,284
04/20/99 1,070,577 90,993 5,808
05/20/99 984,224 86,353 5,353
06/20/99 901,628 82,596 4,921
07/20/99 823,324 78,304 4,508
08/20/99 750,331 72,993 4,117
09/20/99 682,791 67,540 3,752
10/20/99 617,579 65,212 3,414
11/20/99 553,897 63,683 3,088
12/20/99 491,172 62,725 2,769
01/20/2000 429,360 61,812 2,456
02/20/2000 368,231 61,129 2,147
03/20/2000 307,924 60,307 1,841
04/20/2000 248,498 59,426 1,540
05/20/2000 190,224 58,274 1,242
06/20/2000 132,887 57,337 951
07/20/2000 77,737 55,150 664
08/20/2000 26,098 51,639 389
09/20/2000 0 26,098 130
</TABLE>
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TLFC IV Equipment Lease Trust 1996-1 CPR: 6.00%
Class A Certificate Cashflows Par: 5,000,000
A Coupon: 6.000%
Accrued: 5,000
Settlement: 26-Nov-96
1st Pay: 20-Dec-96
B Coupon: 6.69%
Discount Rate: 7.07%
<TABLE>
<CAPTION>
Beg. Bal Principal Interest
--------- --------- --------
<S> <C> <C> <C>
Closing 5,000,000
12/20/96 4,826,643 173,357 25,000
01/20/97 4,635,447 191,196 24,133
02/20/97 4,447,523 187,924 23,177
03/20/97 4,260,834 186,689 22,238
04/20/97 4,077,507 183,327 21,304
05/20/97 3,898,835 178,671 20,388
06/20/97 3,723,440 175,395 19,494
07/20/97 3,551,138 172,303 18,617
08/20/97 3,384,569 166,569 17,756
09/20/97 3,221,353 163,216 16,923
10/20/97 3,063,304 158,048 16,107
11/20/97 2,909,794 153,510 15,317
12/20/97 2,759,053 150,741 14,549
01/20/98 2,610,393 148,660 13,795
02/20/98 2,466,177 144,216 13,052
03/20/98 2,323,740 142,437 12,331
04/20/98 2,186,024 137,716 11,619
05/20/98 2,051,459 134,565 10,930
06/20/98 1,920,404 131,055 10,257
07/20/98 1,792,661 127,743 9,602
08/20/98 1,670,575 122,086 8,963
09/20/98 1,553,918 116,657 8,353
10/20/98 1,442,391 111,527 7,770
11/20/98 1,336,079 106,312 7,212
12/20/98 1,233,803 102,276 6,680
01/20/99 1,136,405 97,398 6,169
02/20/99 1,043,124 93,281 5,682
03/20/99 953,855 89,269 5,216
04/20/99 869,080 84,775 4,769
05/20/99 789,136 79,944 4,345
06/20/99 713,203 75,933 3,946
07/20/99 641,676 71,527 3,566
08/20/99 575,347 66,329 3,208
09/20/99 514,257 61,090 2,877
10/20/99 455,728 58,529 2,571
11/20/99 399,064 56,664 2,279
12/20/99 343,769 55,295 1,995
01/20/2000 289,792 53,978 1,719
02/20/2000 236,929 52,862 1,449
03/20/2000 185,282 51,647 1,185
04/20/2000 134,884 50,398 926
05/20/2000 85,939 48,945 674
06/20/2000 38,257 47,682 430
07/20/2000 0 38,257 191
08/20/2000 0 0 0
09/20/2000 0 0 0
</TABLE>
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TLFC IV Equipment Lease Trust 1996-1 Par: 127,815,256
Class A Certificate Cashflows A Coupon: 5.990%
B-E Yield: 6.065%
Settlement: 26-Nov-96
1st Pay: 20-Dec-96
Discount Rate: 7.06%
B Coupon: 6.68%
CPR: 0%
<TABLE>
<CAPTION>
Beg Bal Principal Interest End Balance
----------- --------- -------- -----------
<S> <C> <C> <C> <C>
0 127,815,256 0 0 127,815,256
1 127,815,256 3,732,641 638,011 124,082,615
2 124,082,615 4,233,727 619,379 119,848,889
3 119,848,889 4,197,198 598,246 115,651,690
4 115,651,690 4,212,634 577,295 111,439,057
5 111,439,057 4,172,431 556,267 107,266,626
6 107,266,626 4,097,286 535,439 103,169,339
7 103,169,339 4,057,008 514,987 99,112,332
8 99,112,332 4,020,632 494,736 95,091,700
9 95,091,700 3,912,897 474,666 91,178,803
10 91,178,803 3,866,946 455,134 87,311,858
11 87,311,858 3,771,018 435,832 83,540,840
12 83,540,840 3,690,308 417,008 79,850,531
13 79,850,531 3,656,217 398,587 76,194,315
14 76,194,315 3,640,133 380,337 72,554,181
15 72,554,181 3,558,419 362,166 68,995,762
16 68,995,762 3,548,889 344,404 65,446,874
17 65,446,874 3,457,051 326,689 61,989,823
18 61,989,823 3,407,366 309,433 58,582,457
19 58,582,457 3,346,546 292,424 55,235,911
20 55,235,911 3,290,062 275,719 51,945,849
21 51,945,849 3,165,702 259,296 48,780,147
22 48,780,147 3,045,566 243,494 45,734,581
23 45,734,581 2,931,848 228,292 42,802,734
24 42,802,734 2,813,620 213,657 39,989,114
25 39,989,114 2,727,505 199,612 37,261,609
26 37,261,609 2,615,145 185,998 34,646,464
27 34,646,464 2,523,157 172,944 32,123,306
28 32,123,306 2,432,543 160,349 29,690,763
29 29,690,763 2,325,977 148,206 27,364,786
30 27,364,786 2,207,385 136,596 25,157,402
31 25,157,402 2,111,335 125,577 23,046,066
32 23,046,066 2,001,609 115,038 21,044,457
33 21,044,457 1,865,859 105,047 19,178,599
34 19,178,599 1,726,479 95,733 17,452,119
35 17,452,119 1,666,954 87,115 15,785,166
36 15,785,166 1,627,855 78,794 14,157,310
37 14,157,310 1,603,367 70,669 12,553,944
38 12,553,944 1,580,024 62,665 10,973,920
39 10,973,920 1,562,538 54,778 9,411,381
40 9,411,381 1,541,532 46,978 7,869,849
41 7,869,849 1,518,996 39,284 6,350,853
42 6,350,853 1,489,536 31,701 4,861,317
43 4,861,317 1,465,592 24,266 3,395,725
44 3,395,725 1,409,670 16,950 1,986,054
45 1,986,054 1,319,919 9,914 666,136
46 666,136 666,136 3,325 0
47 0 0 0 0
48 0 0 0 0
</TABLE>
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Price/Yield Table Discount Rate: 7.06%
A Note A Coupon: 5.99 %
B Coupon: 6.68%
<TABLE>
<CAPTION>
Security Price Prepay Speed-CPR
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x/1000 x/32 0.00% 3.00% 6.00% 9.00% 12.00% 18.00%
- --------- --------- --------- --------- --------- --------- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C>
99.250 99.08 6.603% 6.625% 6.649% 6.674% 6.700% 6.756%
99.281 99.09 6.580% 6.602% 6.625% 6.648% 6.673% 6.727%
99.313 99.10 6.558% 6.578% 6.600% 6.623% 6.647% 6.698%
99.344 99.11 6.535% 6.555% 6.576% 6.597% 6.620% 6.669%
99.375 99.12 6.513% 6.531% 6.551% 6.572% 6.594% 6.640%
99.406 99.13 6.490% 6.508% 6.527% 6.546% 6.567% 6.611%
99.438 99.14 6.468% 6.485% 6.502% 6.521% 6.540% 6.582%
99.469 99.15 6.445% 6.461% 6.478% 6.495% 6.514% 6.554%
99.500 99.16 6.423% 6.438% 6.453% 6.470% 6.487% 6.525%
99.531 99.17 6.400% 6.414% 6.429% 6.445% 6.461% 6.496%
99.563 99.18 6.378% 6.391% 6.405% 6.419% 6.434% 6.467%
99.594 99.19 6.355% 6.368% 6.380% 6.394% 6.408% 6.438%
99.625 99.20 6.333% 6.344% 6.356% 6.368% 6.381% 6.409%
99.656 99.21 6.311% 6.321% 6.332% 6.343% 6.355% 6.381%
99.688 99.22 6.288% 6.298% 6.307% 6.318% 6.329% 6.352%
99.719 99.23 6.266% 6.274% 6.283% 6.292% 6.302% 6.323%
99.750 99.24 6.243% 6.251% 6.259% 6.267% 6.276% 6.294%
99.781 99.25 6.221% 6.228% 6.235% 6.242% 6.249% 6.266%
99.813 99.26 6.199% 6.204% 6.210% 6.216% 6.223% 6.237%
99.844 99.27 6.176% 6.181% 6.186% 6.191% 6.197% 6.208%
99.875 99.28 6.154% 6.158% 6.162% 6.166% 6.170% 6.180%
99.906 99.29 6.132% 6.135% 6.138% 6.141% 6.144% 6.151%
99.938 99.30 6.110% 6.111% 6.113% 6.115% 6.118% 6.122%
99.969 99.31 6.087% 6.088% 6.089% 6.090% 6.091% 6.094%
100.000 100.00 6.065% 6.065% 6.065% 6.065% 6.065% 6.065%
100.031 100.01 6.043% 6.042% 6.041% 6.040% 6.039% 6.036%
100.063 100.02 6.021% 6.019% 6.017% 6.015% 6.013% 6.008%
100.094 100.03 5.998% 5.996% 5.993% 5.990% 5.986% 5.979%
100.125 100.04 5.976% 5.972% 5.969% 5.964% 5.960% 5.951%
100.156 100.05 5.954% 5.949% 5.944% 5.939% 5.934% 5.922%
100.188 100.06 5.932% 5.926% 5.920% 5.914% 5.908% 5.894%
100.219 100.07 5.910% 5.903% 5.896% 5.889% 5.882% 5.865%
100.250 100.08 5.888% 5.880% 5.872% 5.864% 5.855% 5.837%
100.281 100.09 5.865% 5.857% 5.848% 5.839% 5.829% 5.809%
100.313 100.10 5.843% 5.834% 5.824% 5.814% 5.803% 5.780%
100.344 100.11 5.821% 5.811% 5.800% 5.789% 5.777% 5.752%
100.375 100.12 5.799% 5.788% 5.776% 5.764% 5.751% 5.723%
100.406 100.13 5.777% 5.765% 5.752% 5.739% 5.725% 5.695%
100.438 100.14 5.755% 5.742% 5.728% 5.714% 5.699% 5.667%
100.469 100.15 5.733% 5.719% 5.704% 5.689% 5.673% 5.638%
100.500 100.16 5.711% 5.696% 5.680% 5.664% 5.647% 5.610%
Avg. Life 1.54 1.48 1.41 1.35 1.29 1.18
Mac. Duration 1.45 1.39 1.33 1.28 1.23 1.13
Mod. Duration 1.44 1.38 1.33 1.27 1.22 1.12
Coupon 5.99% 5.99% 5.99% 5.99% 5.99% 5.99%
Principal Window 46 45 44 43 42 41
Expected Final Sep-2000 Aug-2000 Jul-2000 Jun-2000 May-2000 Apr-2000
</TABLE>
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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.
TL LEASE FUNDING CORP. IV
----------------------------
(Registrant)
Date: November 21, 1996 /s/ Norman Smagley
----------------------------
Norman Smagley
Vice President, Finance, and
Secretary
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