8-K 1 at123102.txt ASSOCIATES MONTHLY 8-K 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): January 17th, 2003 ------------------------------------------------------------------------------- CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION ON BEHALF OF ASSOCIATES CREDIT CARD MASTER NOTE TRUST (Exact name of registrant as specified in its charter) UNITED STATES OF AMERICA ------------------------------------------------------ (State or other jurisdiction of incorporation) 333-9486701 ------------------------- (Commission File Numbers) 46-0358360 ------------------------- (IRS Employer Identification Number) 701 EAST 60TH STREET, NORTH SIOUX FALLS, SOUTH DAKOTA 57117 ------------------------------------------------ ------------- (Address of principal executive office) (Zip Code) Registrants telephone number, including area code (605) 331-2626 Item 5. Other Events The monthly statements for the month of December 2002 were distributed to Noteholders on January 17, 2003. Item 7 (C). Exhibits. Exhibit No. Description 20.1 Series 2000-1 monthly statement for the month of December 2002. 20.2 Series 2000-2 monthly statement for the month of December 2002. 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. CITIBANK (SOUTH DAKOTA), NATIONAL ASSOCIATION AS SERVICER By: /s/ Doug Morrison ----------------------- Douglas Morrison Chief Financial Officer
File:December '02 8k_2000-1 CONFIDENTIAL Servicer's Report Date of Report: 1/24/2003 Interest Period: December 17,2002 to January 16, 2002, Pay on January 17th Associates Credit Card Master Note Trust, Series 2000-1 ---------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------- Transferor Trust Interest Totals ------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------ Beginning Principal Receivables Balance 5,520,343,210.39 Beginning Fin. Chrg. Receivables Balance 204,217,565.20 Beginning Total Receivables Balance 5,724,560,775.59 Beginning Special Funding Accnt Balance 0.00 Beginning Spread Account Balance 0.00 Beginning Reserve Account Balance 0.00 Beginning Period Invested Amount 3,595,645,507.61 Ending Period Invested Amount 3,959,043,525.38 Class A Class B Class C Total Series Monthly Master Note Trust Activities Note Note Note Note ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- Initial Invested Amount = Prin Bal 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000.00 Beginning Period Invested Amount 316,666,666.67 42,708,333.33 137,500,000.00 496,875,000.00 Principal Deposit to PFA 63,333,333.33 8,541,666.67 0.00 71,875,000.00 Principal Funding Acct (PFA) Bal 506,666,666.67 68,333,333.33 0.00 575,000,000.00 Note Principal Balance Increase 0.00 0.00 0.00 0.00 Note Principal Balance Decrease 0.00 0.00 0.00 0.00 Reductions in Invested Amount this Period (Other than by Principal Payments) 0.00 0.00 0.00 0.00 Previous Reductions in Invested Amount Reimbursed this Period 0.00 0.00 0.00 0.00 Ending Special Funding Accnt Balance Ending Spread Account Balance Ending Reserve Account Balance Ending Period Invested Amount 253,333,333.33 34,166,666.67 137,500,000.00 425,000,000.00
------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ Group I Information Series 2000-1 ------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------ Beginning Invested Amount 496,875,000.00 Average Rate 1.74% Allocable Finance Charge Collections 9,164,532.61 Allocable Principal Collections 76,849,117.84 Allocable Default Amount Due 4,725,340.73 Allocable Monthly Interest Due from Trust 742,959.49 Monthly Interest on PFA Balance 680,435.65 Allocable Monthly Servicing Fees Due 828,125.00 Ending Invested Amount 425,000,000.00
---------------------------------------- ---------------------------------------- Payout Event Tests ---------------------------------------- ---------------------------------------- Base Rate Trigger 3 Month Average Portfolio Yield 10.85% 3 Month Average Base Rate 3.84% Spread 7.01% Trigger Pass Test: If Spread is >0, "Yes" Yes Transferor's Interest Trigger Required Transferor Interest 389,562,030.11 Transferor Interest 3,959,043,525.38 Trigger Pass Test Yes
ASSOCIATES CREDIT CARD MASTER NOTE TRUST Series 2000-1 Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and supplemented, the "Master Indenture"), between Associates Credit Card Master Note Trust (the "Trust) and the Bank of New York, as indenture trustee (the Indenture Trustee), as supplemented by the Series 2000-1 Indenture Supplement, dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and the Indenture Trustee, Citibank (South Dakota), National Association("CBSD"), as Servicer (the "Servicer") under the Transfer and Servicing Agreement, dated as of April 1, 2000 (the "Transfer and Servicing Agreement") between Citibank (South Dakota), National Association, as Transferor & Servicer, and the Trust, is required to prepare certain information each month regarding current distributions to the Series 2000-1 Noteholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date of January 17th, 2003 and with respect to the performance of the Trust during the month of December is set forth below. Capitalized terms used in this Monthly Statement have their respective meanings set forth in the Master Indenture and the Indenture Supplement. Current Transaction Period: Amortization Period Any Cash Flow Shortfalls this Period No Any Cash Flow Shortfalls from Previous Period No Payout Event this Period: No Group I Participants: Series 2000-1
MASTER NOTE TRUST RECEIVABLES YIELD AND BASE RATE -- December: (31 posting days)
Yield Defaults Total Portfolio Yield (Current Month) 21.42% 11.04% 10.38% Portfolio Yield (Prior Month) 21.28% 11.48% 9.80% Portfolio Yield (Two Months Ago) 22.74% 10.37% 12.37% THREE MONTH AVERAGE PORTFOLIO YIELD 10.85% ---------------------- ----------------------
Servicing Coupon Total Base Rate (Current Month) 2.00% 1.74% 3.74% Base Rate (Prior Month) 2.00% 1.68% 3.68% Base Rate (Two Months Ago) 2.00% 2.09% 4.09% THREE MONTH AVERAGE BASE RATE 3.84% ---------------------- ----------------------
Beginning Period Principal Receivables 5,520,343,210.39 Beginning Period Finance Charge Receivables 204,217,565.20 Beginning Period Discounted Receivables 0.00 Beginning Period Total Receivables 5,724,560,775.59 Removed Principal Receivables 0.00 Removed Finance Charge Receivables 0.00 Removed Total Receivables 0.00 Discounted Receivables Generated this Period 0.00 Additional Principal Receivables 0.00 Additional Finance Charge Receivables 0.00 Additional Total Receivables 0.00 Total Principal Collections this Period 429,112,978.35 Total Defaulted Principal Receivables this Period 52,499,124.76 Total Receivables Adjustments this Period 17,279,200.53 Total Finance Charge Collections this Period 101,819,100.14 Total Discounted Receivables this Period 0.00 Ending Period Principal Receivables 5,565,171,858.71 Ending Period Finance Charge Receivables 201,547,269.67 Ending Period Discounted Receivables 0.00 Ending Period Total Receivables 5,766,719,128.38 DELINQUENCY INFORMATION End of the Month Principal Delinquencies: 31-60 Days Delinquent 121,332,681.92 61-90 Days Delinquent 88,620,909.68 91+ Days Delinquent 175,305,746.89 --------------------- --------------------- Total 31+ Days Delinquent 385,259,338.49 --------------------- ---------------------
ASSOCIATES CREDIT CARD MASTER NOTE TRUST CASH FLOW ALLOCATIONS SERIES 2000-1 ` Floating Investor Percentage 9.0008% Floating Allocation Percentage 50.2590% Fixed Investor Percentage 9.0008% Series Allocation Percetage 17.9088% Principal Allocation Percentage 100.0000%
FINANCE CHARGE ALLOCATIONS Total ---------------------------------------------------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------------- AVAILABLE FUNDS Total Trust Finance Charge Collections 101,819,100.14 Investor Percentage 9.0008% Investor Finance Charge Collections 9,164,532.61 9,164,532.61 Excess Finance Charge Collections allocated to Series 0.00 0.00 Available Finance Charge Collections 9,164,532.61 9,164,532.61
CASH FLOW ALLOCATIONS
Class A Distributions (1)Class A Monthly Interest 421,298.61 (2)Class A Monthly Interest Previously Due 0.00 (3)Class A Monthly Additional Interest 0.00 (4)Class A Monthly Additional Interest Previously Due 0.00 Total Class A Monthly Interest 421,298.61 Class B Distributions (5)Class B Monthly Interest 64,726.85 (6)Class B Monthly Interest Previously Due 0.00 (7)Class B Monthly Additional Interest 0.00 (8)Class B Monthly Additional Interest Previously Due 0.00 Total Class B Monthly Interest 64,726.85 (9)Total Monthly Servicing Fee for Series 828,125.00 (10)Total Servicing Fee for Series Previously Due 0.00 (11)Class A Prepayable Increase Amount Interest 0.00 (12)Class B Prepayable Increase Amount Interest 0.00 (13)Investor Default Amount 4,725,340.73 (14)Investor Charge-Offs 0.00 (15)Reallocated Principal Collections Previously Due 0.00 Class C Distributions (16)Class C Monthly Interest 256,934.03 (21)Funds Required per Note Agreement under Sections 2.07, 2.08 & 2.09 0.00 (22)Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 0.00 Spread Account Distributions (23)Class C Spread Account Required Deposit 0.00 TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER SERIES' ALLOCATIONS 2,868,107.39 EXCESS SPREAD ALLOCATED TO OTHER SERIES' 0.00 EXCESS SPREAD RELEASED TO TRANSFEROR 2,868,107.39
PRINCIPAL ALLOCATIONS ------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- AVAILABLE FUNDS Total Trust Principal Collections 429,112,978.35 Series Allocation Percentage 17.9088% Principal Allocation Percentage 100.0000% Investor Principal Collections - Series Level 76,849,117.84 Total Investor Principal Collections - Series Level 76,849,117.84 Class A Class B Class C Total ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Class Prin Percentages(A & B) 88.12% 11.88% 0.00% 100.00000% Class Principal Collections 67,716,324.13 9,132,793.71 0.00% 76,849,117.84 Class Prin Bal at end of Rev Prd 760,000,000.00 102,500,000.00 137,500,000.00 1,000,000,000 Monthly Deposit to PFA. 63,333,333.33 8,541,666.67 71,875,000.00 Shared Prin Collect for Oth Series 4,382,990.79 591,127.05 - 4,974,118 Prin Pmt for Class C from Oth Series - - - 0 Net (User)/Provider of Prin Collect 4,382,990.79 591,127.05 - 4,974,117.84 Monthly Principal Payment to PFA 63,333,333.33 8,541,666.67 - 71,875,000.00 Bullet Prin Payment at Maturity - - - 0.00 Total Distribution: Int + Prin 421,298.61 64,726.85 256,934.03 742,959.49
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Group 1 Coupon Rate Balance Interest Payments -------------------- --------------------- --------------------- -------------------- --------------------- --------------------- Series 2000-1, Class A 1.55% $ 316,666,666.67 $ 421,298.61 1 Series 2000-1, Class B 1.76% $ 42,708,333.33 $ 64,726.85 .85 Series 2000-1, Class C 2.17% $ 137,500,000.00 $ 256,934.03 3
Series 2000-1 ---------------------------------------------------------------------------------------- ---------------------------------------------------------------------------------------- Class A Class B Class C Total -------------------- --------------------- --------------------- ---------------------- -------------------- --------------------- --------------------- ---------------------- Prin Distr Reqd Amount @ Maturity $ - $ - - $ - - -$ - Int Dist Reqd From Master Trust $ 421,298.61 $ 64,726.85 $ 256,934.03 $ 742,959.49 PFA Int Shortfall Funded by CBSD $ 112,722.22 $ 26,272.43 $ - $ 138,994.65 PFA Int Funded by CP $ 477,095.84 $ 64,345.16 $ - $ 541,441.00 Principal Deposit to PFA $ 63,333,333.33 $ 8,541,666.67 $ - $ 71,875,000.00 Servicing Fee $ 828,125.00 $ 828,125.00 -------------------- --------------------- --------------------- ---------------------- -------------------- --------------------- --------------------- ---------------------- Total $ 64,344,450.00 $ 8,697,011.11 $ 1,085,059.03 $ 74,126,520.14 ==================== ===================== ===================== ====================== ==================== ===================== ===================== ====================== Total Cpn Dist to Class A +B+C $ 1,011,116.67 $ 155,344.44 $ 256,934.03 4 $ 1,423,395.14 Total Cpn Dist to Class A + B $ 1,166,461.11
File:December '02 8k_2000-2 CONFIDENTIAL Servicer's Report Date of Report: 1/24/2003 Interest Period: December 17,2002 to January 16, 2002, Pay on January 17th Associates Credit Card Master Note Trust, Series 2000-2 ----------------------------------------------------------------------------------------------------------- ----------------------------------------------------------------------------------------------------------- Transferor Trust Interest Totals ------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------ Beginning Principal Receivables Balance 5,520,343,210.39 Beginning Fin. Chrg. Receivables Balance 204,217,565.20 Beginning Total Receivables Balance 5,724,560,775.59 Beginning Special Funding Accnt Balance 0.00 Beginning Spread Account Balance 0.00 Beginning Reserve Account Balance 0.00 Beginning Period Invested Amount 3,595,645,507.61 Ending Period Invested Amount 3,959,043,525.38 Class A Class B Class C Total Series Monthly Master Note Trust Activities Note Note Note Note --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- Initial Invested Amount 600,000,000.00 80,921,000.00 108,553,000.00 789,474,000.00 Beginning Period Invested Amount 450,000,000.00 60,690,750.00 108,553,000.00 619,243,750.00 Principal Deposit to PFA on D.D. 50,000,000.00 6,743,416.67 - 56,743,416.67 Principal Funding Acct (PFA) Balance 200,000,000.00 26,973,666.67 - 226,973,666.67 Note Principal Balance Increase 0.00 0.00 0.00 0.00 Note Principal Balance Decrease 0.00 0.00 0.00 0.00 Reductions in Invested Amount this Period (Other than by Principal Payments) 0.00 0.00 0.00 0.00 Previous Reductions in Invested Amount Reimbursed this Period 0.00 0.00 0.00 0.00 Ending Special Funding Accnt Balance Ending Spread Account Balance Ending Reserve Account Balance Ending Period Invested Amount 400,000,000.00 53,947,333.33 108,553,000.00 562,500,333.33
------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- Group I Information Series 2000-2 ------------------------------------------------------------------------------------- ------------------------------------------------------------------------------------- Beginning Invested Amount 619,243,750.00 Average Rate 1.66% Allocable Finance Charge Collections 11,421,543.73 Allocable Principal Collections 60,670,380.46 Allocable Default Amount Due 5,889,082.19 Allocable Monthly Interest Due 883,823.54 Monthly Interest on PFA Balance 226,993.40 Allocable Monthly Servicing Fees Due 1,032,072.92 Ending Invested Amount 562,500,333.33
----------------------------------------- ----------------------------------------- Payout Event Tests ----------------------------------------- ----------------------------------------- Base Rate Trigger 3 Month Average Portfolio Yield 10.85% 3 Month Average Base Rate 3.77% Spread 7.08% Trigger Pass Test: If Spread is >0, "Yes" Yes Transferor's Interest Trigger Required Transferor Interest 389,562,030.11 Transferor Interest 3,959,043,525.38 Trigger Pass Test Yes
ASSOCIATES CREDIT CARD MASTER NOTE TRUST Series 2000-2 Pursuant to the Master Indenture dated as of April 1, 2000 (as amended and supplemented, the "Master Indenture"), between Associates Credit Card Master Note Trust (the "Trust) and the Bank of New York, as indenture trustee (the Indenture Trustee), as supplemented by the Series 2000-2 Indenture Supplement, dated as of June 13, 2000 (the "Indenture Supplement"), between the Trust and the Indenture Trustee, Citibank (South Dakota), National Association, as Servicer (the "Servicer") under the Transfer and Servicing Agreement, dated as of April 1, 2000 (the "Transfer and Servicing Agreement") between Citibank (South Dakota) National Association, as Transferor & Servicer, and the Trust, is required to prepare certain information each month regarding current distributions to the Series 2000-2 Noteholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the Distribution Date of January 17, 2003, and with respect to the performance of the Trust during the month of December is set forth below. Capitalized terms used in this Monthly Statement have their respective meanings set forth in the Master Indenture and the Indenture Supplement. Current Transaction Period: Amortization Period Any Cash Flow Shortfalls this Period No Any Cash Flow Shortfalls from Previous Period No Payout Event this Period: No Group I Participants: Series 2000-2
MASTER NOTE TRUST RECEIVABLES YIELD AND BASE RATE -- December: (31 posting days)
Yield Defaults Total Portfolio Yield (Current Month) 21.42% 11.04% 10.38% Portfolio Yield (Prior Month) 21.28% 11.48% 9.80% Portfolio Yield (Two Months Ago) 22.74% 10.37% 12.37% THREE MONTH AVERAGE PORTFOLIO YIELD 10.85% --------------------- ---------------------
Servicing Coupon Total Base Rate (Current Month) 2.00% 1.66% 3.66% Base Rate (Prior Month) 2.00% 1.61% 3.61% Base Rate (Two Months Ago) 2.00% 2.04% 4.04% THREE MONTH AVERAGE BASE RATE 3.77% --------------------- ---------------------
Beginning Period Principal Receivables 5,520,343,210.39 Beginning Period Finance Charge Receivables 204,217,565.20 Beginning Period Discounted Receivables 0.00 Beginning Period Total Receivables 5,724,560,775.59 Removed Principal Receivables 0.00 Removed Finance Charge Receivables 0.00 Removed Total Receivables 0.00 Discounted Receivables Generated this Period 0.00 Additional Principal Receivables 0.00 Additional Finance Charge Receivables 0.00 Additional Total Receivables 0.00 Total Principal Collections this Period 429,112,978.35 Total Defaulted Principal Receivables this Period 52,499,124.76 Total Receivables Adjustments this Period 17,279,200.53 Total Finance Charge Collections this Period 101,819,100.14 Total Discounted Receivables this Period 0.00 Ending Period Principal Receivables 5,565,171,858.71 Ending Period Finance Charge Receivables 201,547,269.67 Ending Period Discounted Receivables 0.00 Ending Period Total Receivables 5,766,719,128.38 DELINQUENCY INFORMATION End of the Month Principal Delinquencies: 31-60 Days Delinquent 121,332,681.92 61-90 Days Delinquent 88,620,909.68 91+ Days Delinquent 175,305,746.89 --------------------- --------------------- Total 31+ Days Delinquent 385,259,338.49 --------------------- ---------------------
ASSOCIATES CREDIT CARD MASTER NOTE TRUST CASH FLOW ALLOCATIONS SERIES 2000-2 Floating Investor Percentage 11.2175% Floating Allocation Percentage 79.3397% Fixed Investor Percentage 11.2175% Series Allocation Percetage 14.1386% Principal Allocation Percentage 100.0000%
FINANCE CHARGE ALLOCATIONS Total --------------------------------------------------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------------------------------------------------- AVAILABLE FUNDS Total Trust Finance Charge Collections 101,819,100.14 Investor Percentage 11.2175% Investor Finance Charge Collections 11,421,543.73 11,421,543.73 Excess Finance Charge Collections allocated to Series 0.00 0.00 Available Finance Charge Collections 11,421,543.73 11,421,543.73
CASH FLOW ALLOCATIONS
Class A Distributions (1)Class A Monthly Interest 589,000.00 (2)Class A Monthly Interest Previously Due 0.00 (3)Class A Monthly Additional Interest 0.00 (4)Class A Monthly Additional Interest Previously Due 0.00 Total Class A Monthly Interest 589,000.00 Class B Distributions (5)Class B Monthly Interest 91,980.20 (6)Class B Monthly Interest Previously Due 0.00 (7)Class B Monthly Additional Interest 0.00 (8)Class B Monthly Additional Interest Previously Due 0.00 Total Class B Monthly Interest 91,980.20 (9)Total Monthly Servicing Fee for Series 1,032,072.92 (10)Total Servicing Fee for Series Previously Due 0.00 (11)Class A Prepayable Increase Amount Interest 0.00 (12)Class B Prepayable Increase Amount Interest 0.00 (13)Investor Default Amount 5,889,082.19 (14)Investor Charge-Offs 0.00 (15)Reallocated Principal Collections Previously Due 0.00 Class C Distributions (16)Class C Monthly Interest 202,843.34 (21)Funds Required per Note Agreement under Sections 2.07, 2.08 & 2.09 0.00 (22)Funds Required per Note Agreement under Sections 2.04 (e) & 7.01 0.00 Spread Account Distributions (23)Class C Spread Account Required Deposit 0.00 TOTAL EXCESS SPREAD ELIGIBLE FOR OTHER SERIES' ALLOCATIONS 3,616,565.08 EXCESS SPREAD ALLOCATED TO OTHER SERIES' 0.00 EXCESS SPREAD RELEASED TO TRANSFEROR 3,616,565.08
PRINCIPAL ALLOCATIONS -------------------------------------------------------------------------------------- -------------------------------------------------------------------------------------- AVAILABLE FUNDS Total Trust Principal Collections 429,112,978.35 Series Allocation Percentage 14.1386% Principal Allocation Percentage 100.0000% Investor Principal Collections - Series Level 60,670,380.46 Total Investor Principal Collections - Series Level 60,670,380.46 Class A Class B Class C Total --------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------- Class Prin Percentages(A & B) 88.12% 11.88% 0.00% 100.00000% Class Principal Collections 53,460,281.40 7,210,099.05 0.00% 60,670,380.46 Class Prin Bal at end of Rev Prd 600,000,000.00 80,921,000.00 108,553,000.00 789,474,000 Monthly Deposit to PFA. 50,000,000.00 6,743,416.67 56,743,416.67 Shared Prin Collect for Oth Series 3,460,281.40 466,682.39 - 3,926,964 Prin Pmt for Class C from Oth Series - - - 0 Net (User)/Provider of Prin Collect 3,460,281.40 466,682.39 - 3,926,963.79 Monthly Principal Payment to PFA 50,000,000.00 6,743,416.67 - 56,743,416.67 Bullet Prin Payment at Maturity - - - 0.00 Total Distribution:Interest + Prin 589,000.00 91,980.20 202,843.34 883,823.54
ASSOCIATES CREDIT CARD MASTER NOTE TRUST
Group 1 Coupon Rate Balance Interest Payments -------------------- --------------------- --------------------- -------------------- --------------------- --------------------- Series 2000-2, Class A 1.52% $ 450,000,000.00 $ 589,000.00 0 Series 2000-2, Class B 1.76% $ 60,690,750.00 $ 91,980.20 20 Series 2000-2, Class C 2.17% $ 108,553,000.00 $ 202,843.34 4
Series 2000-2 --------------------------------------------------------------------------------------- --------------------------------------------------------------------------------------- Class A Class B Class C Total -------------------- --------------------- --------------------- --------------------- -------------------- --------------------- --------------------- --------------------- Prin Distr Reqd Amount @ Maturity $ - $ - - $ - - $-- Int Dist Reqd From Master Trust $ 589,000.00 $ 91,980.200 $ 202,843.34 20 $ 883,823.54 PFA Int Shortfall Funded by CBSD $ 34,911.08 $ 8,889.3208 $ - 9.32 $ 43,800.40 PFA Int Funded by CP $ 161,422.25 $ 21,770.755 $ - 75 $ 183,193.00 Principal Deposit to PFA $ 50,000,000.00 $ 6,743,416.67 $ - $ 56,743,416.67 Servicing Fee $ 1,032,072.92 $ 1,032,072.92 -------------------- --------------------- --------------------- --------------------- -------------------- --------------------- --------------------- --------------------- Total $ 50,785,333.33 $ 6,866,056.94 $ 1,234,916.26 $ 58,886,306.52 ==================== ===================== ===================== ===================== ==================== ===================== ===================== ===================== Total Cpn Dist to Class A +B+C $ 785,333.33 $ 122,640.273 $ 202,843.34 7 $ 1,110,816.94 4 Total Cpn Dist to Class A + B $ 907,973.60