Exhibit 20
MONTHLY NOTEHOLDERS STATEMENT
WORLD FINANCIAL NETWORK CREDIT CARD MASTER NOTE TRUST
SERIES 2001-A, SERIES 2002-A, SERIES 2003-A and SERIES 2004-A
Pursuant to the Master Indenture, dated as of August 1, 2001, (as amended and supplemented, the “Indenture”) between World Financial Network Credit Card Master Note Trust (the ‘Issuer”) and BNY Midwest Trust Company, as indenture trustee (the “Indenture Trustee”), as supplemented by the Series 2001-A Indenture Supplement, dated as of August 21, 2001, the Series 2002-A Indenture Supplement, dated as of November 7, 2002, the Series 2003-A Indenture Supplement, dated as of June 29, 2003 and the Series 2004-A Indenture Sumpplement, dated as of May 19, 2004, each between the Issuer and the Indenture Trustee (each, an “Indenture Supplement”), World Financial Network National Bank, as Servicer (the “Servicer”) under the Transfer and Servicing Agreement, dated as of August 1, 2001 (as amended, the “Transfer and Servicing Agreement”) between the Servicer, WFN Credit Company, as LLC, as Transferor and the Issuer is required to prepare certain WFN Credit Company, as LLC, as Transferor and the Issuer is required to prepare certain information each month regarding current distributions to the Series 2004-A Noteholders and the performance of the Trust during the previous month. The information required to be prepared with respect to the Distribution Date of September 15, 2004, and with respect to the performance of the Trust during the month of August 2004 is set forth below. Capitalized terms used herein are defined in the Indenture and the Indenture Supplements.
| Aug-04 |
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Determination Date: | 13-Sep-04 |
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Distribution Date: | 15-Sep-04 |
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Number of Days in period | 30 |
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I. DEAL PARAMETERS
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| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
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(a) Class A/A-1 Initial Note Principal Balance |
| $ | 702,000,000.00 |
| $ | 468,000,000.00 |
| $ | 100,000,000.00 |
| $ | 390,000,000.00 |
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(b) Class A-2 Initial Note Principal Balance |
| $ | 0.00 |
| $ | 0.00 |
| $ | 368,000,000.00 |
| $ | 0.00 |
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(c) Class B Initial Note Principal Balance |
| $ | 76,500,000.00 |
| $ | 51,000,000.00 |
| $ | 51,000,000.00 |
| $ | 42,500,000.00 |
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(d) Class C/C-1 Initial Note Principal Balance |
| $ | 121,500,000.00 |
| $ | 81,000,000.00 |
| $ | 40,000,000.00 |
| $ | 67,500,000.00 |
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(e) Class C-2 Initial Note Principal Balance |
| $ | 0.00 |
| $ | 0.00 |
| $ | 41,000,000.00 |
| $ | 0.00 |
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(f) Total Initial Note Principal Balance (a + b + c + d + e) |
| $ | 900,000,000.00 |
| $ | 600,000,000.00 |
| $ | 600,000,000.00 |
| $ | 500,000,000.00 |
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(g) Class A/A-1/A-2 Initial Note Principal Balance % |
| 78.00 | % | 78.00 | % | 78.00 | % | 78.00 | % | ||||
(h) Class B Initial Note Principal Balance % |
| 8.50 | % | 8.50 | % | 8.50 | % | 8.50 | % | ||||
(i) Class C/C-1/C-2/ Initial Note Principal Balance % |
| 13.50 | % | 13.50 | % | 13.50 | % | 13.50 | % | ||||
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(j) Required Retained Transferor Percentage |
| 4.00 | % | 4.00 | % | 4.00 | % | 4.00 | % | ||||
(k) Additional Minimum Transferor Percentage (2% Nov-Jan; 0% otherwise) |
| 0.00 | % | 0.00 | % | 0.00 | % | 0.00 | % | ||||
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(l) LIBOR rate as of most recent reset day |
| 1.60000 | % | 1.60000 | % | 1.60000 | % | 1.60000 | % | ||||
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(m) Class A/A-1 Rate (LIBOR + Spread) |
| 1.84 | % | 2.03 | % | 2.02 | % | 1.78 | % | ||||
(n) Class A/A-1 Swap Rate |
| 5.11 | % | 3.95 | % | 3.79 | % | 5.80 | % | ||||
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(o) Class A-2 Rate (LIBOR + Spread) |
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| 1.97 | % |
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(p) Class A-2 Swap Rate |
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| 4.16 | % |
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(q) Class B Rate (LIBOR + Spread) |
| 2.27 | % | 2.85 | % | 2.70 | % | 2.10 | % | ||||
(r) Class B Swap Rate |
| 5.54 | % | 4.77 | % | 5.08 | % | 6.12 | % | ||||
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(s) Class C/C-1 Rate (LIBOR + Spread) |
| 3.14 | % | 4.55 | % | 4.55 | % | 2.60 | % | ||||
(t) Class C/C-1 Swap Rate |
| 6.47 | % | 6.51 | % | 6.65 | % | 6.66 | % | ||||
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(s) Class C-2 Rate (LIBOR + Spread) |
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| 4.05 | % |
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(v) Class C-2 Swap Rate |
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| 6.81 | % |
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(w) Servicing Fee Percentage |
| 2.00 | % | 2.00 | % | 2.00 | % | 2.00 | % | ||||
4
II. INVESTED AMOUNTS AND ALLOCATION PERCENTAGES
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| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
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Monthly Period (2001-A 36 months; 2002-A 60 months; 2003-A 60 months; 2004-A 60 months) |
| 37 |
| 22 |
| 14 |
| 3 |
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(a) Beginning of Period Class A Note Principal Balance |
| $ | 0.00 |
| $ | 468,000,000.00 |
| $ | 468,000,000.00 |
| $ | 390,000,000.00 |
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(b) Beginning of Period Class B Note Principal Balance |
| $ | 0.00 |
| $ | 51,000,000.00 |
| $ | 51,000,000.00 |
| $ | 42,500,000.00 |
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(c) Beginning of Period Class C Note Principal Balance |
| $ | 121,500,000.00 |
| $ | 81,000,000.00 |
| $ | 81,000,000.00 |
| $ | 67,500,000.00 |
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(d) Beginning of Period Total Note Principal Balance |
| $ | 121,500,000.00 |
| $ | 600,000,000.00 |
| $ | 600,000,000.00 |
| $ | 500,000,000.00 |
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(e) End of Period Class A Note Principal Balance |
| $ | 0.00 |
| $ | 468,000,000.00 |
| $ | 468,000,000.00 |
| $ | 390,000,000.00 |
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(f) End of Period Class B Note Principal Balance |
| $ | 0.00 |
| $ | 51,000,000.00 |
| $ | 51,000,000.00 |
| $ | 42,500,000.00 |
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(g) End of Period Class C Note Principal Balance |
| $ | 0.00 |
| $ | 81,000,000.00 |
| $ | 81,000,000.00 |
| $ | 67,500,000.00 |
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(h) End of Period Total Note Principal Balance |
| $ | 0.00 |
| $ | 600,000,000.00 |
| $ | 600,000,000.00 |
| $ | 500,000,000.00 |
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(i) Floating Allocation Percentage (e / (I.a)) |
| 4.42 | % | 21.83 | % | 21.83 | % | 18.19 | % | ||||
(j) Class A Note Floating Allocation Percentage (a / d) |
| 0.00 | % | 78.00 | % | 78.00 | % | 78.00 | % | ||||
(k) Class B Note Floating Allocation Percentage (b / d) |
| 0.00 | % | 8.50 | % | 8.50 | % | 8.50 | % | ||||
(l) Class C Note Floating Allocation Percentage (c / d) |
| 100.00 | % | 13.50 | % | 13.50 | % | 13.50 | % | ||||
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(m) Floating Allocation of Defaulted Amount |
| $ | 871,705.13 |
| $ | 4,300,072.62 |
| $ | 4,300,072.62 |
| $ | 3,583,393.85 |
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III. RECEIVABLES IN THE TRUST
(a) Beginning of the Month Principal Receivables |
| $ | 2,748,746,095.07 |
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(b) Collection of Principal Receivables |
| $ | 458,700,176.94 |
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(c) Defaulted Receivables (principal charge-offs): |
| $ | 19,695,577.52 |
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(d) Dilution (Principal net of Debit Adjustments): |
| $ | 46,198,750.73 |
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(e) Sales (principal receivables generated): |
| $ | 538,617,898.85 |
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(f) Net (Removal)/Addition of Principal Receivables: |
| $ | 0.00 |
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(g) End of Month Principal Receivables (a - b - c - d + e + f) |
| $ | 2,762,769,488.73 |
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(h) Recoveries of previously Charged-off Receivables: |
| $ | 5,290,871.45 |
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(i) Beginning of the Month Finance Charge Receivables |
| $ | 83,977,020.99 |
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(j) End of the Month Finance Charge Receivables |
| $ | 82,164,305.05 |
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(k) Total Receivables as of 6 months prior to this distribution date |
| $ | 2,291,374,596.18 |
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5
IV.RECEIVABLES PERFORMANCE SUMMARY
COLLECTIONS: |
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(a) Collections of Principal Receivables |
| $ | 458,700,176.94 |
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(b) Collections of Finance Charge Receivables |
| $ | 65,840,522.25 |
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(c) Total Collections (a+b). |
| $ | 524,540,699.19 |
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(d) Monthly Payment Rate (% of Total Receivables Outstanding (at beginning of month)) |
| 19.08 | % |
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DELINQUENCIES AND LOSSES: |
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End of the month delinquencies: |
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(e) 1-30 days delinquent (CA1) |
| $ | 155,240,148.39 |
| 51.99 | % |
(f) 31-60 days delinquent (CA2) |
| $ | 49,514,922.01 |
| 16.58 | % |
(g) 61-90 days delinquent (CA3) |
| $ | 32,043,379.79 |
| 10.73 | % |
(h) 91-120 days delinquent (CA4) |
| $ | 25,160,742.95 |
| 8.43 | % |
(i) 121-150 days delinquent (CA5) |
| $ | 20,564,032.84 |
| 6.89 | % |
(j) 151+ days delinquent (CA6) |
| $ | 16,062,657.74 |
| 5.38 | % |
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(k) Total delinquencies (e +f + g + h + i + j) |
| $ | 298,585,883.74 |
| 100.00 | % |
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CHARGE-OFFS: |
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(l) Gross Principal Charge-Offs (% of Total Principal Receivables (at end of month)) |
| 8.55 | % | (annualized) |
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(m) Gross Principal Charge-Offs (% of Total Principal Receivables (as of 6 months prior)) |
| 0.86 | % |
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(1.) Gross Principal Charge-Offs (% of Total Principal Receivables (as of 6 months prior)) |
| 10.31 | % | (annualized) |
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(n) Net Principal Charge-Offs (% of Total Principal Receivables (at end of month)) |
| 6.26 | % | (annualized) |
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YIELD: |
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(o) Portfolio Yield |
| 20.74 | % | (annualized) |
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(p) Base Rate |
| 6.17 | % | (annualized) |
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(q) Excess Finance Charge Collections % |
| 14.57 | % | (annualized) |
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V. TRANSFEROR INTEREST
(a) Required Retained Transferor Percentage |
| 4.00 | % |
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(b) Additional Minimum Transferor Percentage (2% Nov-Jan; 0% otherwise) |
| 0.00 | % |
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(c) Average 30 Day Transferor Amount |
| 124,500,874 |
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(d) Average 30 Day Minimum Transferor Amount |
| 109,836,136 |
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(e) Transferor Percentage at end of Monthy Period |
| 4.64 | % |
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(f) Beginning Transferor’s Interest |
| $ | 114,786,236.39 |
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(g) Ending Transferor’s Interest |
| $ | 128,093,230.15 |
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(h) Required Transferor’s Interest ((V.a + V.b)*V.h) |
| $ | 110,511,012.44 |
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(i) Excess Funding Account Balance at end of Monthly Period |
| $ | 5,822.34 |
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(j) Sum of Principal Receivables and Excess Funding Account at end of Monthly |
| $ | 2,762,775,311.07 |
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6
VI. TRUST ACCOUNT BALANCES AND EARNINGS
|
| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
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ACCOUNT BALANCES: |
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(a) Finance Charge Account |
| $ | 4,690,380.29 |
| $ | 2,504,281.26 |
| $ | 2,680,851.98 |
| $ | 846,657.90 |
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(b) Cash Collateral Account |
| $ | 22,526,191.26 |
| $ | 15,017,461.13 |
| $ | 15,005,667.75 |
| $ | 12,514,424.09 |
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(c) Spread Account |
| $ | 9,010,476.52 |
| $ | 6,006,984.37 |
| $ | 6,016,924.26 |
| $ | 5,005,809.96 |
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(d) Reserve Account |
| $ | 4,531.08 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(e) Principal Account |
| $ | 121,616,867.23 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(f) Principal Accumulation Account |
| $ | 784,613.44 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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INTEREST AND EARNINGS: |
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(g) Interest and Earnings on Finance Charge Account |
| $ | 6,026.14 |
| $ | 3,400.81 |
| $ | 4,185.31 |
| $ | 3,929.07 |
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(h) Interest and Earnings on Cash Collateral Account |
| $ | 26,191.26 |
| $ | 17,461.13 |
| $ | 17,171.65 |
| $ | 14,550.80 |
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(i) Interest and Earnings on Spread Account |
| $ | 10,476.52 |
| $ | 6,984.37 |
| $ | 6,827.29 |
| $ | 5,860.64 |
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(j) Interest and Earnings on Reserve Account |
| $ | 4,531.08 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(k) Interest and Earnings on Principal Accumulation Account |
| $ | 294,198.13 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(l) Interest and Earnings on Principal Funding Account |
| $ | 607,282.54 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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VII. ALLOCATION and APPLICATION of COLLECTIONS
|
| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
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(a) Floating Allocation of Finance Charges |
| $ | 3,851,694.75 |
| $ | 14,389,631.53 |
| $ | 14,390,126.55 |
| $ | 11,992,454.51 |
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(b) Class A/A-1 Monthly Interest |
| $ | 0.00 |
| $ | 791,700.00 |
| $ | 168,333.33 |
| $ | 578,500.00 |
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(c) Class A-2 Monthly Interest |
| $ | 0.00 |
| $ | 0.00 |
| $ | 604,133.33 |
| $ | 0.00 |
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(d) Class A/A-1 Swap Payment Due to Swap Provider |
| $ | 0.00 |
| $ | 748,800.00 |
| $ | 147,500.00 |
| $ | 1,307,800.00 |
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(e) Class A/A-2 Swap Payment Due to Swap Provider |
| $ | 0.00 |
| $ | 0.00 |
| $ | 671,600.00 |
| $ | 0.00 |
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(f) Class B Monthly Interest |
| $ | 0.00 |
| $ | 121,125.00 |
| $ | 114,750.00 |
| $ | 74,375.00 |
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(g) Class B Swap Payment Due to Swap Provider |
| $ | 0.00 |
| $ | 81,600.00 |
| $ | 100,937.50 |
| $ | 142,516.66 |
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(h) Servicing Fee ((II.e*II.a)/12) |
| $ | 202,500.00 |
| $ | 1,000,000.00 |
| $ | 1,000,000.00 |
| $ | 833,333.33 |
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(i) Class C/C-1 Monthly Interest |
| $ | 317,716.04 |
| $ | 307,125.00 |
| $ | 151,666.67 |
| $ | 146,250.00 |
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(j) Class C-2 Monthly Interest |
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| $ | 138,375.00 |
| $ | 0.00 |
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(k) Class C/C-1 Swap Payment Due to Swap Provider |
| $ | 336,150.00 |
| $ | 132,300.00 |
| $ | 70,000.00 |
| $ | 228,600.00 |
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(l) Class C-2 Swap Payment Due to Swap Provider |
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| $ | 94,129.16 |
| $ | 0.00 |
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(m) Investor Default Amounts |
| $ | 871,705.13 |
| $ | 4,300,072.62 |
| $ | 4,300,072.62 |
| $ | 3,583,393.85 |
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(n) Uncovered Dilution Amounts |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(o) Unreimbursed Investor Chargeoffs and Reallocated Principal Collections |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(p) Required to be Deposited into Cash Collateral Account |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(q) Required Reserve Account Amount |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(r) Required to be Deposited into the Spread Account |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(s) Required Payments and Deposits Relating to Interest Rate Swaps |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(t) Other Payments Required to be made |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(u) Excess Finance Charge Collections (a-b-c-d-e-f-g-h-i-j-k-l-m-n-o-p-q-r-s-t) |
| $ | 2,123,623.58 |
| $ | 6,906,908.91 |
| $ | 6,828,628.94 |
| $ | 5,097,685.67 |
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VIII. INVESTOR CHARGE-OFFS
|
| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
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(a) Investor Defaults and Uncovered Dilution |
| $ | 871,705.13 |
| $ | 4,300,072.62 |
| $ | 4,300,072.62 |
| $ | 3,583,393.85 |
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(b) Reimbursed from Available Funds |
| $ | 871,705.13 |
| $ | 4,300,072.62 |
| $ | 4,300,072.62 |
| $ | 3,583,393.85 |
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(c) Reimbursed from Cash Collateral Account |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(d) Reimbursed from Reallocated Principal Collections |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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(e) Total reimbursed in respect of Investor Defaults and Dilution |
| $ | 871,705.13 |
| $ | 4,300,072.62 |
| $ | 4,300,072.62 |
| $ | 3,583,393.85 |
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(f) Investor Charge-off (a - e) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
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7
IX. YIELD and BASE RATE
|
| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
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Base Rate |
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(Monthly interest, any net swap payments and monthly servicing fees divided by collateral amounts plus amounts on deposit in the principal accumulation account) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Base Rate (current month) |
| 8.46 | % | 6.37 | % | 6.52 | % | 7.95 | % |
(b) Base Rate (prior month) |
| 7.33 | % | 6.37 | % | 6.52 | % | 7.95 | % |
(c) Base Rate (2 months prior) |
| 7.33 | % | 6.37 | % | 6.52 | % | 7.95 | % |
|
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|
|
|
|
|
|
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|
(d) 3 Month Average Base Rate |
| 7.71 | % | 6.37 | % | 6.52 | % | 7.95 | % |
|
|
|
|
|
|
|
|
|
|
Gross Portfolio Yield |
|
|
|
|
|
|
|
|
|
(Finance charge collections allocable to each series divided by collateral amounts plus amounts on deposit in the principal accumulation account) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(e) Gross Portfolio Yield (current month) |
| 38.04 | % | 28.78 | % | 28.78 | % | 28.78 | % |
(f) Gross Portfolio Yield (prior month) |
| 22.42 | % | 21.71 | % | 21.71 | % | 21.72 | % |
(g) Gross Portfolio Yield (2 months prior) |
| 24.12 | % | 23.82 | % | 23.82 | % | 24.60 | % |
|
|
|
|
|
|
|
|
|
|
(h) 3 Month Average Gross Portfolio Yield |
| 28.19 | % | 24.77 | % | 24.77 | % | 25.03 | % |
|
|
|
|
|
|
|
|
|
|
Portfolio Yield |
|
|
|
|
|
|
|
|
|
(Finance charge collections less defaults allocable to each series divided by collateral amounts plus amounts on deposit in the principal accumulation account) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(i) Portfolio Yield (current month) |
| 29.43 | % | 20.18 | % | 20.18 | % | 20.18 | % |
(j) Portfolio Yield (prior month) |
| 14.58 | % | 13.87 | % | 13.87 | % | 13.88 | % |
(k) Portfolio Yield (2 months prior) |
| 15.71 | % | 15.41 | % | 15.41 | % | 15.95 | % |
|
|
|
|
|
|
|
|
|
|
(l) 3 Month Average Portfolio Yield |
| 19.91 | % | 16.48 | % | 16.49 | % | 16.67 | % |
|
|
|
|
|
|
|
|
|
|
Portfolio Adjusted Yield |
|
|
|
|
|
|
|
|
|
(Portfolio Yield (2001A includes 50 bps reduction)) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(m) Portfolio Adjusted Yield (current month) |
| 20.47 | % | 13.81 | % | 13.66 | % | 12.23 | % |
(n) Portfolio Adjusted Yield (prior month) |
| 6.75 | % | 7.50 | % | 7.35 | % | 5.93 | % |
(o) Portfolio Adjusted Yield (2 months prior) |
| 7.88 | % | 9.04 | % | 8.88 | % | 8.01 | % |
|
|
|
|
|
|
|
|
|
|
(p) Portfolio Adjusted Yield (3 month avg) |
| 11.70 | % | 10.12 | % | 9.96 | % | 8.72 | % |
|
|
|
|
|
|
|
|
|
|
Excess Spread Percentage |
|
|
|
|
|
|
|
|
|
(Portfolio Yield less Base Rate) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(q) Portfolio Adjusted Yield (current month) |
| 20.97 | % | 13.81 | % | 13.66 | % | 12.23 | % |
(r) Portfolio Adjusted Yield (prior month) |
| 7.25 | % | 7.50 | % | 7.35 | % | 5.93 | % |
(s) Portfolio Adjusted Yield (2 months prior) |
| 8.38 | % | 9.04 | % | 8.88 | % | 8.00 | % |
|
|
|
|
|
|
|
|
|
|
(t) Portfolio Adjusted Yield (3 month average) |
| 12.20 | % | 10.12 | % | 9.96 | % | 8.72 | % |
8
IX. ACCUMULATION and PRINCIPAL FUNDING ACCOUNT
|
| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
(a) Cumulative Class A principal distributed to PAA (as of prior distribution date) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(b) Class A Principal deposited in the Principal Accumulation Account (PAA) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(c) Total Class A Principal deposited in the PAA (a + b) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| ||||
(d) Cumulative Class B principal distributed to PAA (as of prior distribution date) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(e) Class B Principal deposited in the Principal Accumulation Account (PAA) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(f) Total Class B Principal deposited in the PAA (a + b) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| ||||
(g) Cumulative Class C principal distributed to PAA (as of prior distribution date) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(h) Class C Principal deposited in the Principal Accumulation Account (PAA) |
| $ | 121,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(i) Total Class C Principal deposited in the PAA (a + b) |
| $ | 121,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| ||||
(j) Ending PAA balance (c + f+ i) |
| $ | 121,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
X. PRINCIPAL REPAYMENT
|
| Series 2001-A |
| Series 2002-A |
| Series 2003-A |
| Series 2004-A |
| ||||
|
|
|
|
|
|
|
|
|
| ||||
(a) Class A Principal Paid (as of prior distribution dates) |
| $ | 702,000,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(b) Class A Principal Payments |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(c) Total Class A Principal Paid (a + b) |
| $ | 702,000,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| ||||
(d) Class B Principal Paid (as of prior distribution dates) |
| $ | 76,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(e) Class B Principal Payments |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(f) Total Class B Principal Paid (d + e) |
| $ | 76,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
|
|
|
|
|
|
|
|
|
| ||||
(g) Class C Principal Paid (as of prior distribution dates) |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(h) Class C Principal Payments |
| $ | 121,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
(i) Total Class C Principal Paid (g + h) |
| $ | 121,500,000.00 |
| $ | 0.00 |
| $ | 0.00 |
| $ | 0.00 |
|
| By: WORLD FINANCIAL NETWORK NATIONAL BANK, | ||
| as Servicer | ||
|
| ||
| By: | /s/ Daniel T. Groomes |
|
|
| ||
| Name: Daniel T. Groomes | ||
| Title: President | ||
9
