EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM T-1
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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) ____________
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THE FIRST NATIONAL BANK OF CHICAGO
(Exact name of trustee as specified in its charter)
A National Banking Association 36-0899825
(I.R.S. employer
identification number)
One First National Plaza, Chicago, Illinois 60670-0126
(Address of principal executive offices) (Zip Code)
The First National Bank of Chicago
One First National Plaza, Suite 0286
Chicago, Illinois 60670-0286
Attn: Lynn A. Goldstein, Law Department (312) 732-6919
(Name, address and telephone number of agent for service)
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EQUITABLE OF IOWA COMPANIES
(Exact name of obligor as specified in its charter)
Iowa 42-1083593
(State or other jurisdiction of (I.R.S.employer
incorporation or organization) identification number)
604 Locust Street
P.O. Box 1635
Des Moines, Iowa 50306-1635
(Address of principal executive offices) (Zip Code)
Debt Securities
(Title of Indenture Securities)
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.
Comptroller of Currency, Washington, D.C.,
Federal Deposit Insurance Corporation,
Washington, D.C., The Board of Governors of
the Federal Reserve System, Washington D.C.
(b) Whether it is authorized to exercise
corporate trust powers.
The trustee is authorized to exercise corporate
trust powers.
Item 2. Affiliations With the Obligor. If the obligor
is an affiliate of the trustee, describe each
such affiliation.
No such affiliation exists with the trustee.
Item 16. List of exhibits. List below all exhibits filed as a
part of this Statement of Eligibility.
1. A copy of the articles of association of the
trustee now in effect.*
2. A copy of the certificates of authority of the
trustee to commence business.*
3. A copy of the authorization of the trustee to
exercise corporate trust powers.*
4. A copy of the existing by-laws of the trustee.*
5. Not Applicable.
6. The consent of the trustee required by
Section 321(b) of the Act.
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.
Pursuant to the requirements of the Trust Indenture Act of 1939,
as amended, the trustee, The First National Bank of Chicago, a
national banking association organized and existing under the
laws of the United States of America, has duly caused this
Statement of Eligibility to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of
Chicago and State of Illinois, on the 18th day of March, 1996.
The First National Bank of Chicago,
Trustee
By /s/ R. D. Manella
R. D. Manella
Vice President
* Exhibit 1,2,3 and 4 are herein incorporated by reference to Exhibits
bearing identical numbers in Item 12 of the Form T-1 of The First National
Bank of Chicago, filed as Exhibit 26 to the Registration Statement on Form
S-3 of The CIT Group Holdings, Inc., filed with the Securities and Exchange
Commission on February 16, 1993 (Registration No. 33-58418).
EXHIBIT 6
THE CONSENT OF THE TRUSTEE REQUIRED
BY SECTION 321(b) OF THE ACT
March 18, 1996
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In connection with the qualification of an indenture between Equitable of
Iowa Companies and The First National Bank of Chicago, the undersigned, in
accordance with Section 321(b) of the Trust Indenture Act of 1939, as
amended, hereby consents that the reports of examinations of the
undersigned, made by Federal or State authorities authorized to make such
examinations, may be furnished by such authorities to the Securities and
Exchange Commission upon its request therefor.
Very truly yours,
The First National Bank of Chicago
By: /s/ R.D. Manella
R. D. Manella
Vice President
EXHIBIT 7
Legal Title of Bank: The First National Bank of Chicago Call Date: 12/31/95
Address: One First National Plaza, Suite 0460 ST-BK: 17-1630 FFIEC 031
City, State Zip: Chicago, IL 60670-0460 Page RC-1
FDIC Certificate No.: 0/3/6/1/8
Consolidated Report of Condition for Insured Commercial
and State-Chartered Savings Banks for December 31, 1995
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated, report the amount outstanding of the last business day of the
quarter.
Schedule RC--Balance Sheet
Dollar Amounts C400 <-
in Thousands RCFD BIL MIL THOU
______________ ____ ____________ ____
ASSETS
1. Cash and balances due from
depository institutions
(from Schedule RC-A):
a. Noninterest-bearing
balances and currency
and coin(1) 0081 4,003,995 1.a.
b. Interest-bearing
balances(2) 0071 9,240,284 1.b.
2. Securities
a. Held-to-maturity
securities(from Schedule
RC-B, column A) 1754 0 2.a.
b. Available-for-sale
securities (from Schedule
RC-B, column D) 1773 827,134 2.b.
3. Federal funds sold and
securities purchased under
agreements to resell in
domestic offices of the bank
and its Edge and Agreement
subsidiaries, and in IBFs:
a. Federal Funds sold 0276 3,287,844 3.a.
b. Securities purchased under
agreements to resell 0277 612,400 3.b.
4. Loans and lease financing
receivables:
a. Loans and leases, net of
unearned income (from
Schedule RC-C) RCFD 2122 16,463,126 4.a.
b. LESS: Allowance for
loan and lease losses RCFD 3123 353,777 4.b.
c. LESS: Allocated transfer
risk reserve RCFD 3128 0 4.c.
d. Loans and leases, net
of unearned income,
allowance, and reserve
(item 4.a minus 4.b and 4.c) 2125 16,109,349 4.d.
Legal Title of Bank: The First National Bank of Chicago Call Date: 12/31/95
Address: One First National Plaza, Suite 0460 ST-BK: 17-1630 FFIEC 031
City, State Zip: Chicago, IL 60670-0460 Page RC-2
FDIC Certificate No.: 0/3/6/1/8
Schedule RC--Balance Sheet (continued)
Dollar Amounts C400 <-
in Thousands RCFD BIL MIL THOU
______________ ____ ____________ ____
5. Assets held in trading accounts 3545 12,379,396 5.
6. Premises and fixed assets
(including capitalized leases) 2145 591,753 6.
7. Other real estate owned (from
Schedule RC-M) 2150 8,796 7.
8. Investments in unconsolidated
subsidiaries and associated
companies (from Schedule RC-M) 2130 40,560 8.
9. Customers' liability to this
bank on acceptances outstanding 2155 524,918 9.
10. Intangible assets (from Schedule
RC-M) 2143 101,011 10.
11. Other assets (from Schedule RC-F) 2160 1,633,056 11.
12. Total assets (sum of items
1 through 11) 2170 49,360,496 12.
<FN>
(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held in trading accounts.
Legal Title of Bank: The First National Bank of Chicago Call Date: 12/31/95
Address: One First National Plaza, Suite 0460 ST-BK: 17-1630 FFIEC 031
City, State Zip: Chicago, IL 60670-0460 Page RC-3
FDIC Certificate No.: 0/3/6/1/8
Schedule RC-Continued
Dollar Amounts
in Thousands Bil Mil Thou
______________ ____________
LIABILITIES
13. Deposits:
a. In domestic offices
(sum of totals of
columns A and C from
Schedule RC-E, part
1) RCON 2200 15,174,243 13.a.
(1) Noninterest-
bearing(1) RCON 6631 6,217,164 13.a.(1)
(2) Interest-
bearing RCON 6636 8,957,079 13.a.(2)
b. In foreign offices,
Edge and Agreement
subsidiaries, and
IBFs (from Schedule
RC-E, part II) RCFN 2200 14,435,503 13.b.
(1) Noninterest-
bearing RCFN 6631 625,206 13.b.(1)
(2) Interest-
bearing RCFN 6636 13,810,297 13.b.(2)
14. Federal funds purchased
and securities sold under
agreements to repurchase
in domestic offices of
the bank and of its Edge
and Agreement subsidiaries,
and in IBFs:
a. Federal funds purchased RCFD 0278 2,449,282 14.a.
b. Securities sold under
agreements to repurchase RCFD 0279 880,215 14.b.
15. a. Demand notes issued to
the U.S. Treasury RCON 2840 93,942 15.a.
b. Trading Liabilities RCFD 3548 7,523,265 15.b.
16. Other borrowed money:
a. With original maturity
of one year or less RCFD 2332 1,897,370 16.a.
b. With original maturity
of more than one year RCFD 2333 383,807 16.b.
17. Mortgage indebtedness and
obligations under capitalized
leases RCFD 2910 280,522 17.
18. Bank's liability on acceptance
executed and outstanding RCFD 2920 524,918 18.
19. Subordinated notes and
debentures RCFD 3200 1,225,000 19.
Legal Title of Bank: The First National Bank of Chicago Call Date: 12/31/95
Address: One First National Plaza, Suite 0460 ST-BK: 17-1630 FFIEC 031
City, State Zip: Chicago, IL 60670-0460 Page RC-4
FDIC Certificate No.: 0/3/6/1/8
Schedule RC-Continued
Dollar Amounts
in Thousands Bil Mil Thou
______________ ____________
20. Other liabilities (from
Schedule RC-G) RCFD 2930 1,444,364 20.
21. Total liabilities (sum of
items 13 through 20) RCFD 2948 46,312,431 21.
22. Limited-Life preferred
stock and related surplus RCFD 3282 0 22.
EQUITY CAPITAL
23. Perpetual preferred stock
and related surplus RCFD 3838 0 23.
24. Common stock RCFD 3230 200,858 24.
25. Surplus (exclude all
surplus related to
preferred stock) RCFD 3839 2,320,126 25.
26. a. Undivided profits
and capital reserves RCFD 3632 519,849 26.a.
b. Net unrealized holding
gains (losses) on
available-for-sale
securities RCFD 8434 7,315 26.b.
27. Cumulative foreign
currency translation
adjustments RCFD 3284 (83) 27.
28. Total equity capital
(sum of items 23 through
27) RCFD 3210 3,048,065 28.
29. Total liabilities,
limited-life preferred
stock, and equity
capital (sum of items
21, 22, and 28) RCFD 3300 49,360,496 29.
<FN>
Memorandum
To be reported only with the March Report of Condition.
1. Indicate in the box at the right the
number of the statement below that best
describes the most comprehensive level
of auditing work performed for the bank Number
by independent external auditors as of
any date during 1993 RCFD 6724 N/A M.1.
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified
public accounting firm which submits a report on the consolidated
holding company (but not on the bank separately)
3 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
4 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
5 = Review of the bank's financial statements by external auditors
6 = Compilation of the bank's financial statements by external auditors
7 = Other audit procedures (excluding tax preparation work)
8 = No external audit work
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.