-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, VoBT3PIN/eFOW8sOupr6IOeg6YfFEnJfi+LBZLyeOrmpBG+VCB4XJjk1qiF27wtv NS2Lo2aEtRsORdLOKDQuVA== 0001025365-00-000002.txt : 20000223 0001025365-00-000002.hdr.sgml : 20000223 ACCESSION NUMBER: 0001025365-00-000002 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20000131 ITEM INFORMATION: FILED AS OF DATE: 20000222 FILER: COMPANY DATA: COMPANY CONFORMED NAME: HONDA AUTO RECEIVABLES 1997-A GRANTOR TRUST CENTRAL INDEX KEY: 0001025365 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 330526079 STATE OF INCORPORATION: CA FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 333-18095 FILM NUMBER: 550162 BUSINESS ADDRESS: STREET 1: 700 VAN NESS AVE CITY: TORRANCE STATE: CA ZIP: 90501 BUSINESS PHONE: 3107814100 MAIL ADDRESS: STREET 1: P O BOX 2295 STREET 2: P O BOX 2295 CITY: TORRANCE STATE: CA ZIP: 90509-2295 FORMER COMPANY: FORMER CONFORMED NAME: HONDA AUTO RECEIVABLES 1996-A GRANTOR TRUST DATE OF NAME CHANGE: 19970723 8-K 1 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): February 15, 2000 Honda Auto Receivables 1997-A Grantor Trust (Exact name of registrant specified in its charter) California 333-18095 33-0526079 (State or other (Commission (IRS Employer jurisdiction of File Number) Identification No.) incorporation) American Honda Receivables Corp. 700 Van Ness Avenue Torrance, CA 90501 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (310) 781-4100 Item 5. Other Events On February 15, 2000, the Principal and interest collected during the preceding calendar month, net of certain adjustments as provided for in the Pooling and Servicing Agreement dated as of July 1, 1997 (the "Agreement"), between American Honda Receivable Corporation, as Seller, American Honda Finance Corporation, as Servicer, and The Bank of Tokyo-Mitsubishi Trust Company of New York, as Trustee (the "Trustee"), were distributed to holders ("Certificateholders") of certificates representing undivided fractional interests in Honda Auto Receivables 1997-A Grantor Trust. In accordance with the Agreement, the Servicer's Certificate, as defined in the Agreement, was furnished to the Trustee for the benefit of the Certificateholders and, as such, was distributed by the Trustee to the Certificateholders. A copy of the Servicer's Certificate is being filed as Exhibit 20 to this Current Report on Form 8-K. Item 7 (c). Exhibits 20 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1933, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Honda Auto Receivables 1997-A Grantor Trust By: American Honda Finance Corporation, as Servicer By: /s/ John Weisickle John Weisickle, Vice President / Finance EX-20 2
AMERICAN HONDA FINANCE CORPORATION MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust January 1, through January 31, 2000 A. ORIGINAL DEAL PARAMETER INPUTS (A) Original Total Portfolio $1,080,049,608.67 (B) Class A Certificate Ownership Interest of the Trust 93.75% (C) Original Class A Certificate Balance $1,012,546,508.13 (D) Class A Certificate Rate 5.85% (E) Original Class B Certificate Balance $67,503,100.54 (F) Class B Certificate Rate 5.85% (G) Servicing Fee Rate 1.00% (H) Original Weighted Average Coupon (WAC) 7.59% (I) Original Weighted Average Remaining Term (WAM) 42.14 months (J) Number of Contracts 90,365 (K) Reserve Fund (i) Reserve Fund Initial Deposit Percentage 0.15% (ii) Reserve Fund Initial Deposit $1,620,074.41 (iii) Specified Reserve Fund Balance Percent 0.75% (iv) Specified Reserve Fund Balance $8,100,372.07 (v) Reserve Fund Floor Percent 1.50% (vi) Reserve Fund Floor Amount $16,200,744.13 (vii) Reserve Fund Floor Trigger Amount $324,014,882.40 (viii) Reserve Fund Ceiling Amount $32,401,488.24 (L) Original Yield Supplement Deposit $11,931,514.53 (M) Original Letter of Credit Amount $84,000,000.00 B. INPUTS FROM PREVIOUS MONTHLY SERVICER REPORTS (A) Total Portfolio Outstanding 182,988,514.52 (B) Total Portfolio Pool Factor 0.1694260 (C) Class A Certificate Balance 171,551,732.36 (D) Class A Principal Factor 0.1694260 (E) Class B Certificate Balance $11,436,782.16 (F) Reserve Fund Balance 10,848,442.14 (G) Outstanding Interest Advance 830,505.60 (H) Payahead Account Balance 925,729.78 (I) Cumulative Net Losses for All Prior Periods 7,749,304.39 (J) Weighted Average Coupon of Remaining Portfolio (WAC) 8.39% (K) Weighted Average Remaining Term of Remaining Portfolio (WAM) 19.76 months (L) Number of Contracts 42,909 (M) Yield Supplement Balance 216,989.19 C. INPUTS FROM THE MAINFRAME (A) Precomputed Contracts Principal (i) Scheduled Principal Collections 3,513,246.13 (ii) Prepayments in Full 1,322,246.41 (iii) Prepayments in Full Due to Repurchases $0.00 (B) Precomputed Contracts Total Collections 5,090,923.02 (C) Simple Interest Contracts (i) Collected Principal 12,490,529.74 (ii) Collected Interest 954,297.49 (iii) Repurchased Receivables Principal 0.00 (iv) Repurchased Receivables Interest 0.00 (D) Payment Advance for Precomputes (i) Reimbursement of Previous Advances 312,026.50 (ii) Current Advance Amount 196,503.07 (E) Interest Advance for Simple Interest - Net (If positive, Additional Adva 0.00 (F) Payahead Account (i) Payments Applied 220,558.02 (ii) Additional Payaheads 258,624.12 (G) Weighted Average Coupon of Remaining Portfolio (WAC) 8.48% (H) Weighted Average Remaining Maturity of Remaining Portfolio (WAM) 19.38 months (I) Remaining Number of Contracts 41,181 (J) Delinquent Contracts Contracts Amount (i) 31-60 Days Delinquent 704 1.71% $4,045,675 2.45% (ii) 61-90 Days Delinquent 120 0.29% 758,531 0.46% (iii) Over 90 Days Delinquent 32 0.08% 211,777 0.13% D. INPUTS DERIVED FROM OTHER SOURCES (A) Collection Account Investment Income -- Paid to Servicer 0.00 (B) Reserve Fund Investment Income -- Paid to Seller 58,540.07 (C) Investment Income on Yield Supplement Balance 1,590.17 (D) Aggregate Net Losses for Collection Period 107,350.87 (E) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables 262,442.46 (ii) Net Liquidation Proceeds Received During the Collection Period 93,472.34 (iii) Recoveries on Previously Liquidated Contracts 61,619.25 (F) Number of Vehicles Repossessed During the Collection Period 12 AMERICAN HONDA FINANCE CORPORATION MONTHLY SERVICER REPORT -- Honda Auto Receivables 1997-A Grantor Trust January 1, through January 31, 2000 I. COLLECTIONS (A) Principal Payments Received (Excluding Repurchases) (C(A)i+ii+C(C)i) 17,326,022.28 (B) Interest Payments Received (C(B) - (C(A)i+ii+iii + C(C)ii - C(D)i + ii)) 1,094,204.54 (C) Aggregate Net Liquidation Proceeds Received (D(E)ii+iii) 155,091.59 (D) Principal on Repurchased Contracts (C(A)iii + C(C)iii) 0.00 (E) Interest on Repurchased Contracts (C(C)iv) 0.00 (F) Total Collections (A+B+C+D+E) 18,575,318.41 (G) Net Simple Interest Advance Amount (C(E)) 0.00 (H) Total Collections and Advances (F+G) 18,575,318.41 (I) Yield Supplement Deposit 51,800.41 (J) Total Available Amount (F+G+H) 18,627,118.82 II. DISTRIBUTIONS (A) Principal Payments Received (Excluding Repurchases) (I(A)) 17,326,022.28 (B) Principal on Repurchased Contracts (I(D)) 0.00 (C) Gross Principal Balance of Liquidated Receivables (D(E)i) 262,442.46 (D) Total Principal Reduction (A+B+C) 17,588,464.74 (E) Class A Distributable Amount (i) Class A Monthly Interest Payment (A(D)/12*B(C)) 836,314.70 (ii) Monthly Principal to Class A (B(C)-(III(i)*A(B)) 16,489,185.69 (iii) Total Distributable Amount (i+ii) 17,325,500.39 (F) Class B Distributable Amount (i) Class B Monthly Interest Payment (A(F)/12*B(E)) 55,754.31 (ii) Monthly Principal to Class B (II(D)-(E)ii) 1,099,279.05 (iii) Total Distributable Amount (i+ii) 1,155,033.36 (G) Required Distributions (i) Servicing Fee (A(G)*B(A)) 152,490.43 (ii) Class A Amount (II(E)iii) 17,325,500.39 (iii) Class B Amount (II(F)iii) 1,155,033.36 (iv) Deposit to Reserve Fund (If Positive, the lesser of (IV(H)-(A)) an 0.00 (v) Excess Amount after Distribution of (i)-(iv) (I(J)-(II(G)i+ii+iii+iv 0.00 (vi) Total Amount Distributed (i+ii+iii+iv+v) 18,633,024.18 (H) Amount of Draw from Reserve Fund (IV(B+C+D)) 5,905.36 (I) Sum of Draw from Reserve Fund and Total Available Amount (I(H)+II(H)) 18,633,024.18 III. POOL BALANCES AND PORTFOLIO INFORMATION Beginning End of Period of Period (A) Balances and Principal Factors (i) Total Pool Balance 182,988,514.52 165,400,049.78 (ii) Total Pool Factor 0.1694260 0.1531412 (iii) Class A Certificate Balance 171,551,732.36 155,062,546.67 (iv) Class A Principal Factor 0.1694260 0.1531412 (v) Class B Certificate Balance 11,436,782.16 10,337,503.11 (B) Portfolio Information (i) Weighted Average Coupon (WAC) 8.39% 8.48% (ii) Weighted Average Remaining Maturity 19.76 months 19.38 months (iii) Remaining Number of Contracts 42,909 41,181 (C) Outstanding Advance Amount $830,505.60 $714,982.17 (D) Outstanding Payahead Balance $925,729.78 $963,795.88 IV. RECONCILIATION OF RESERVE FUND (A) Beginning Reserve Fund Balance (B(F)) $10,848,442.14 (B) Draw for Servicing Fee (if Positive (II(G)I-I(J)) $0.00 (C) Draw for Class A Distributa(If Positive ((II(E)iii+(G)i)-I(H))) $0.00 (D) Draw for Class B Distributable Amount and Servicing Fee (If Positive ((I $5,905.36 (E) Amount Available for Deposit to the Reserve Fund (If Positive (I(J) - (I $0.00 (F) Reserve Fund Balance Prior to Release (IV(A-B-C-D+E)) 10,842,536.78 (G) Reserve Fund Required Amount (Was Trigger or Floor Hit?) 16,200,744.13 (H) Reserve Fund Release to Seller (If Positive (F-G)) $0.00 (I) Ending Reserve Fund Balance (G-H) $10,842,536.78 V. YIELD SUPPLEMENT ACCOUNT DEPOSIT (A) Beginning Yield Supplement Account Balance $216,989.19 (B) Investment Earnings $1,590.17 (C) Additional Yield Supplement Amounts $0.00 (D) Yield Supplement Deposit Amount $51,800.41 (E) Ending Yield Supplement Account Balance $166,778.95 (F) Release Amount Due Seller 7,103.51 (G) Ending Yield Supplement Account Balance to be Invested 159,675.44 VI. NET LOSS AND DELINQUENCY ACCOUNT ACTIVITY (A) Aggregate Net Losses for Collection Period (VI(B)i-ii-iii) 107,350.87 (B) Liquidated Contracts (i) Gross Principal Balance of Liquidated Receivables (D(E)i) 262,442.46 (ii) Net Liquidation Proceeds Received During the Collection Period (D( 93,472.34 (iii) Recoveries on Previously Liquidated Contracts (D(E)iii) 61,619.25 (C) Cumulative Net Losses for all Periods (VI(A)+B(I)) 7,856,655.26 (D) Delinquent and Repossessed Contracts Contracts Amount (i) 31-60 Days Delinquent 704 1.71% 4,045,675.00 (ii) 61-90 Days Delinquent 120 0.29% 758,531.00 (iii) Over 90 Days Delinquent 32 0.08% 211,777.00 (iv) Vehicles Repossessed During the Col 12 0.03% 80,383.94 (v) Total Accumulated Repossessed and in 40 0.09% 297,257.00 VI. TESTS FOR INCREASE IN RESERVE FUND BALANCE (A) Ratio of Net Losses to the Pool Balance as of Each Collection Period. (i) Second Preceeding Collection Period 0.59% (ii) Preceeding Collection Period 0.20% (iii) Current Collection Period 0.74% (iv) Three Month Average (Avg(i,ii,iii)) 0.51% (B) Ratio of Number of Contracts Delinquent 60 Days or More to the Outstanding Number of Receivables as of Each Collection Period. (i) Second Preceeding Collection Period 0.42% (ii) Preceeding Collection Period 0.46% (iii) Current Collection Period 0.47% (iv) Three Month Average (Avg(i,ii,iii)) 0.45% (C) Loss and Delinquency Trigger Indicator Trigger Was Not Hit I hereby certify that the servicing report provided is true and accurate to the best of my knowledge. /s/ John Weisickle John Weisickle, Vice President / Finance
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