8-K 1 0001.txt 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 20, 2001 BANC ONE HELOC TRUST 1998-1 (Exact name of registrant as specified in its charter) United States 333-03911-01 36-1248602 (State or Other (Commission File (I.R.S. Employer Jurisdiction Number) Identification No.) of Incorporation) c/o Bank One, National Association Corporate Trust Services Division - 9th floor 1 N. State Street, Chicago IL (Address of Principal Executive Offices) 60670-0126 (Zip Code) Registrant's telephone number, including area code: 312-336-9730 Item 5. Other Events On behalf of Banc One HELOC Trust 1998-1, a Trust created pursuant to the Pooling Agreement, dated August 31, 1998, the Paying Agent has caused to be filed with the Commission, the Monthly Report dated February 20, 2001. The Monthly Report is filed pursuant to and in accordance with (1) numerous no-action letters (2) current Commission policy in the area. The filing of the Monthly Report will occur subsequent to each monthly distribution to the holders of the Trust's Investor Certificates. A. Monthly Report Information: Aggregate distribution information for the current distribution date February 20, 2001. Principal Interest Ending Balance Cede & Co. $7,882,484.90 $2,462,613.78 $ 494,403,454.00 B. No delinquency in payment under the Transferor Certificate, or the MBIA Insurance Policy has occurred. C. Have any deficiencies occurred? NO. Date: Amount: D. Were any amounts paid or are any amounts payable under the MBIA Insurance Policy? NO Amount: E. Are there any developments with respect to the MBIA Insurance Policy? NONE. F. Item 1: Legal Proceedings: NONE G. Item 2: Changes in Securities: NONE H. Item 4: Submission of Matters to a Vote of Security Holders: NONE I. Item 5: Other Information - Items 1, 2, 4, 5 if applicable: NOT APPLICABLE Item 7. Monthly Statements and Exhibits Exhibit No. 1. Monthly Statement to Certificateholders dated February 20, 2001 Statement to Certificateholders (Page 1 of 2) Distribution Date: 2/20/01 INVESTOR CERTIFICATES DISTRIBUTION SUMMARY (PER $1000 ORIGINAL PRINCIPAL AMOUNT) A. INTEREST & PRINCIPAL DISTRIBUTIONS TO INVESTORS Investor Certificate Interest Distributed 2.897193 Investor Certificate Interest Shortfall Distributed 0.000000 Remaining Unpaid Investor Certificate Interest Shortfall 0.000000 Managed Amortization Period ? (Yes=1; No=0) 1 Investors Certificate Principal Distributed 9.273512 Principal Distribution Amount 9.015886 Maximum Principal Payment 19.766833 Alternative Principal Payment 9.015886 Principal Collections less Additional Balances 9.015886 Investor Loss Amount Distributed to Investors 0.234500 Accelerated Principal Distribution Amount 0.023126 Credit Enhancement Draw Amount 0.00 Total Amount Distributed to Certificateholders (P & I) 12.170704 B. INVESTOR CERTIFICATE PRINCIPAL BALANCE Beginning Investor Certificate Balance 502,285,938.89 Ending Investor Certificate Balance 494,403,454.00 Beginning Invested Amount 511,631,859.25 Ending Invested Amount 503,769,031.42 Investor Certificateholder Floating Allocation Percentage 96.7463% Pool Factor 0.5816511 Liquidation Loss Amount for Liquidated Loans 206,028.36 Unreimbursed Liquidation Loss Amount 0.00 C. POOL INFORMATION Beginning Pool Balance 528,838,433.13 Ending Pool Balance 520,968,901.85 Servicing Fee 220,349.35 D. INVESTOR CERTIFICATE RATE Investor Certificate Rate 6.086250% LIBOR Rate 5.836250% Maximum Rate 9.672556% E. DELINQUENCY & REO STATUS Delinquent 30-59 days No. of Accounts 203 Trust Balances 6,225,091.00 Delinquent 60-89 days No. of Accounts 65 Trust Balances 2,154,785.00 Delinquent 90+ days No. of Accounts 97 Trust Balances 3,591,549.00 Delinquent 9+ Months No. of Accounts 0 Trust Balances 0.00 REO No. of Accounts 0 Trust Balances 0.00 Statement to Certificateholders (Page 2 of 2) Distribution Date: 2/20/01 IN WITNESS WHEREOF, the undersigned has caused this Certificate to be duly executed and certifies to the best of her knowledge and belief that information is true and correct this 14th day of February, 2001 Bank One, N.A. as Servicer /s/ Tracie Klein _______________________________________ Tracie Klein Vice President Distribution List: " Keith Richardson - Bank One, N.A." 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. BANC ONE HELOC TRUST 1998-1 By /s/ Keith Richardson Name: Keith Richardson Dated February 20, 2000