EX-25.1 12 y86343exv25w1.txt STATEMENT OF ELIGIBILITY EXHIBIT 25.1 -------------------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 ------------------------- FORM T-1 STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939 OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE ------------------------------------------- CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b)(2) ---------------------------------------- JPMORGAN CHASE BANK (Exact name of trustee as specified in its charter) NEW YORK 13-4994650 (State of incorporation (I.R.S. employer if not a national bank) identification No.) 270 PARK AVENUE NEW YORK, NEW YORK 10017 (Address of principal executive offices) (Zip Code)
William H. McDavid General Counsel 270 Park Avenue New York, New York 10017 Tel: (212) 270-2611 (Name, address and telephone number of agent for service) -------------------------------------------- DUKE ENERGY CORPORATION NORTH CAROLINA 56-0205520 (State or other jurisdiction of (I.R.S. employer incorporation or organization) identification No.) 526 SOUTH CHURCH STREET CHARLOTTE, NORTH CAROLINA 28202 (Address of principal executive offices) (Zip Code)
------------------------------------------------------- FIRST AND REFUNDING MORTGAGE BONDS, 3.75% SERIES B DUE 2008 (Title of the indenture securities) ----------------------------------------------------------------- GENERAL Item 1. General Information. Furnish the following information as to the trustee: (a) Name and address of each examining or supervising authority to which it is subject. New York State Banking Department, State House, Albany, New York 12110. Board of Governors of the Federal Reserve System, Washington, D.C., 20551 Federal Reserve Bank of New York, District No. 2, 33 Liberty Street, New York, N.Y. Federal Deposit Insurance Corporation, Washington, D.C., 20429. (b) Whether it is authorized to exercise corporate trust powers. Yes. Item 2. Affiliations with the Obligor and Guarantors. If the obligor or any Guarantor is an affiliate of the trustee, describe each such affiliation. None. - 2 - Item 16. List of Exhibits List below all exhibits filed as a part of this Statement of Eligibility. 1. A copy of the Restated Organization Certificate of the Trustee dated March 25, 1997 and the Certificate of Amendment dated October 22, 2001 (see Exhibit 1 to Form T-1 filed in connections with Registration Statement No. 333-76894, which is incorporated by reference.) 2. A copy of the Certificate of Authority of the Trustee to Commence Business (see Exhibit 2 to Form T-1 filed in connection with Registration Statement No. 33-50010, which is incorporated by reference). On November 11, 2001, in connection with the merger of The Chase Manhattan Bank and Morgan Guaranty Trust Company of New York, the surviving corporation was renamed JPMorgan Chase Bank. 3. None, authorization to exercise corporate trust powers being contained in the documents identified above as Exhibits 1 and 2. 4. A copy of the existing By-Laws of the Trustee (see Exhibit 4 to Form T-1 filed in connection with Registration Statement 333-76894, which is incorporated by reference.) 5. Not applicable. 6. The consent of the Trustee required by Section 321(b) of the Act (see Exhibit 6 to Form T-1 filed in connection with Registration Statement No. 33-50010, which is incorporated by reference). On November 11, 2001, in connection with the merger of The Chase Manhattan Bank and Morgan Guaranty Trust Company of New York, the surviving corporation was renamed JPMorgan Chase Bank. 7. A copy of the latest report of condition of the Trustee, published pursuant to law or the requirements of its supervising or examining authority. 8. Not applicable. 9. Not applicable. SIGNATURE Pursuant to the requirements of the Trust Indenture Act of 1939 the Trustee, JPMorgan Chase Bank, a corporation organized and existing under the laws of the State of New York, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of New York and State of New York, on the 14th day of May, 2003. JPMORGAN CHASE BANK By /s/ Carol Ng ------------------------------- Carol Ng Vice President Exhibit 7 to Form T-1 Bank Call Notice RESERVE DISTRICT NO. 2 CONSOLIDATED REPORT OF CONDITION OF JPMorgan Chase Bank of 270 Park Avenue, New York, New York 10017 and Foreign and Domestic Subsidiaries, a member of the Federal Reserve System, at the close of business December 31, 2002, in accordance with a call made by the Federal Reserve Bank of this District pursuant to the provisions of the Federal Reserve Act.
DOLLAR AMOUNTS ASSETS IN MILLIONS Cash and balances due from depository institutions: Noninterest-bearing balances and currency and coin ............................................................... $ 18,102 Interest-bearing balances ....................................................... 8,392 Securities: Held to maturity securities ......................................................... 396 Available for sale securities ....................................................... 79,372 Federal funds sold and securities purchased under agreements to resell Federal funds sold in domestic offices .......................................... 16,164 Securities purchased under agreements to resell ................................. 67,327 Loans and lease financing receivables: Loans and leases held for sale .................................................. 24,545 Loans and leases, net of unearned income ........................................ $ 159,647 Less: Allowance for loan and lease losses ....................................... 3,572 Loans and leases, net of unearned income and allowance ....................................................................... 156,075 Trading Assets ...................................................................... 194,198 Premises and fixed assets (including capitalized leases) ............................ 6,280 Other real estate owned ............................................................. 104 Investments in unconsolidated subsidiaries and associated companies ............................................................ 678 Customers' liability to this bank on acceptances outstanding ..................................................................... 349 Intangible assets Goodwill .................................................................... 2,159 Other Intangible assets ..................................................... 3,315 Other assets ........................................................................ 44,932 TOTAL ASSETS ........................................................................ $ 622,388 ===========
- 4 - LIABILITIES Deposits In domestic offices ............................................................. $ 171,786 Noninterest-bearing ............................................................. $ 75,101 Interest-bearing ................................................................ 96,685 In foreign offices, Edge and Agreement subsidiaries and IBF's .......................................................... 128,780 Noninterest-bearing ............................................................. $ 7,380 Interest-bearing ................................................................ 121,400 Federal funds purchased and securities sold under agree- ments to repurchase: Federal funds purchased in domestic offices ..................................... 5,701 Securities sold under agreements to repurchase .................................. 120,579 Trading liabilities ................................................................. 118,113 Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases) ....................................... 8,388 Bank's liability on acceptances executed and outstanding ............................ 356 Subordinated notes and debentures ................................................... 8,528 Other liabilities ................................................................... 24,520 TOTAL LIABILITIES ................................................................... 586,751 Minority Interest in consolidated subsidiaries ...................................... 97 EQUITY CAPITAL Perpetual preferred stock and related surplus ....................................... 0 Common stock ........................................................................ 1,785 Surplus (exclude all surplus related to preferred stock)....................... 16,304 Retained earnings ................................................................... 16,347 Accumulated other comprehensive income .............................................. 1,104 Other equity capital components ..................................................... 0 TOTAL EQUITY CAPITAL ................................................................ 35,540 ----------- TOTAL LIABILITIES, MINORITY INTEREST, AND EQUITY CAPITAL ............................ $ 622,388 ===========
I, Joseph L. Sclafani, E.V.P. & Controller of the above-named bank, do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief. JOSEPH L. SCLAFANI We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us, and to the best of our knowledge and belief has been prepared in conformance with the in- structions issued by the appropriate Federal regulatory authority and is true and correct. WILLIAM B. HARRISON, JR.) ELLEN V. FUTTER )DIRECTORS FRANK A. BENNACK, JR. )