SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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): March 12th, 2002
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Citibank (SOUTH DAKOTA), NATIONAL ASSOCIATION
ON BEHALF OF
UNIVERSAL CARD MASTER TRUST
(Issuer of the Asset Backed Certificates)
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(Exact Name of Registrant as Specified in Charter)
UNITED STATES OF AMERICA
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(State or other jurisdiction of incorporation)
33-93806
333-02878
333-09309
333-79497
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(Commission File Numbers)
46-0358360
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(IRS Employer Identification Number)
701 EAST 60TH STREET, NORTH
SIOUX FALLS, SOUTH DAKOTA 57117
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(Address of principal executive office) (Zip Code)
Registrants telephone number, including area code (605) 331-2626
Not Applicable
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(Former Name or Former Address, if Changed Since Last Report)
INFORMATION TO BE INCLUDED IN THE REPORT
Items 1-4. Not Applicable
Item 5. The Certificateholder Statements for the month ending
February 28, 2002 for the Universal Card Master Trust
Series 1995-3 and Series 1997-1 Certificates were
distributed on March 12, 2002.
Item 6. Not Applicable.
Item 7. Exhibits.
The following are filed as Exhibits to this Report under Exhibits 20.1 and 20.4.
Exhibit 20.1 Monthly Servicing Report dated
March 12, 2002 with respect to
the Universal Card Master Trust
Series 1995-3.
Exhibit 20.4 Monthly Servicing Report dated
March 12, 2002 with respect to
the Universal Card Master Trust
Series 1997-1.
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 (Registrant)
By: /s/ Douglas Morrison
-----------------------------
Name: Douglas Morrison
Title: Chief Financial Officer
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
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Universal Card Master Trust
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
A. Information Regarding the Total Trust
-------------------------------------
1. Trust Portfolio Yield .................................. 9.40%
Total Yield Component ............................. 14.73%
Net Credit Loss Component ......................... 5.34%
Recoveries ......................................... 0.62%
2. Principal Purchase Rate ............................... 11.08%
3. Principal Payment Rate ............................... 12.21%
4. Aggregate Amount of Principal Receivables in the Trust :
Beginning of Due Period ............................ $ 12,630,763,990
Weighted Average (used for mid-month addition) ..... $ 0
Lump Sum Addition .................................. $ 0
End of Due Period .................................. $ 12,405,289,321
Transferor's Interest .............................. $ 5,802,289,321
Aggregate Invested Amount of all Series: ............ $ 6,603,000,000
</table>
5. Delinquencies (Aggregate outstanding balances in the Accounts that
were delinquent by the time periods listed below as of the close of
business of the month preceding the Distribution Date, as a percentage
of aggregate Receivables as of the last day of the Due Period) :
<table>
<Caption>
Current .......................................... $ 11,777,875,292
5-34 days delinquent ........................... $ 529,738,476
35-64 days delinquent ........................... $ 178,252,566
65-94 days delinquent ........................... $ 123,377,321
95-124 days delinquent ........................... $ 99,187,028
125-154 days delinquent ........................... $ 84,275,530
155-184 days delinquent ........................... $ 68,457,810
</table>
<table>
<Caption>
Current ........................................... 91.58%
5-34 days delinquent ........................... 4.12%
35-64 days delinquent ........................... 1.39%
65-94 days delinquent ........................... 0.96%
95-124 days delinquent ........................... 0.77%
125-154 days delinquent ........................... 0.66%
155-184 days delinquent ........................... 0.52%
35+ days delinquent ................................ 4.30%
</table>
Page 4
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust
For the Due Period Ending February 28, 2002
==============================================================================
B. Information Regarding Group 1
-----------------------------
<table>
<Caption>
(Percentage Basis)
1. Portfolio Yield 9.40%
2. Weighted Average Certificate Rate 2.00%
3. Weighted Average Investor Fee Rates 1.87%
</table>
C. Information Regarding Group 1
-----------------------------
<table>
<Caption>
(Dollars Basis)
1. Total Investor Collections $ 235,207,550
Principal Collections $ 213,724,366
Finance Charge Collections $ 21,483,184
2. Investor Default Amount $ 7,781,647
3. Investor Monthly Interest $ 2,618,618
4. Investor Monthly Fees $ 2,727,083
</table>
Page 5
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
C2. Information Regarding Series 1995-3
------------------------------------
1. Total Investor Collections $ 100,772,439
Principal Collections $ 91,596,157
Reallocated Finance Charge Collections $ 9,176,282
2. Investor Default Amount $ 3,334,991
3. Investor Monthly Interest $ 1,091,468
4. Investor Monthly Servicing Fee $ 1,168,750
5. Excess Finance Charge Collections $ 3,581,256
</table>
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Level
------------------------------------
<table>
<Caption>
Current Month
1. Series Adjusted Portfolio Yield - current month 9.35%
2. Base Rate - current month 3.62%
Coupon Component 1.75%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 5.73%
</table>
<table>
<Caption>
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 10.48%
5. Base Rate - 3 month average 4.06%
Coupon Component 2.19%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 6.42%
</table>
Page 4
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
D. Information Regarding Series 1995-3
- --------------------------------------
1a. Class A Invested Amount $ 652,500,000
1b. Class B Invested Amount $ 45,000,000
1c. CIA Invested Amount $ 52,500,000
2a. Class A Monthly Interest $ 936,541
2b. Class B Monthly Interest $ 68,302
2c. CIA Monthly Interest $ 86,625
3a. Balance in the Class A Interest Funding Account $ 2,081,203
3b. Balance in the Class B Interest Funding Account $ 151,781
3c. Balance in the CIA Interest Funding Account $ 86,625
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
6a. Class A Principal Deposit to PFA (2) $ 0
6b. Class B Principal Deposit to PFA (2) $ 0
6c. CIA Principal Deposit to PFA (2) $ 0
7a. Balance in Class A Principal Funding Account (2) $ 0
7b. Balance in Class B Principal Funding Account (2) $ 0
7c. Balance in CIA Principal Funding Account (2) $ 0
</table>
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(2) Applicable during the Accumulation Period and any Early Amortization Period
Page 5
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
E. Information Regarding Charge-offs and Distributions to Certificateholders(3)
- ------------------------------------------------------------------------------
1a. The total amount of the distribution to Class A
Certificateholders on the Payment Date $ 0
1b. The total amount of the distribution to Class B
Certificateholders on the Payment Date $ 0
1c. The total amount of the distribution to CIA provider
on the Payment Date $ 86,625
2a. The amount of the distribution set forth in item 1(a) above
in respect of principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the CIA $ 86,625
4a. The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4b. The amount, if any, by which the outstanding principal
balance of the Class B Certificates exceeds the Class B
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal
balance of the CIA exceeds the CIA
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
</table>
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(3) The following information, as applicable, is included
only on Payment Date.
Page 6
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1995-3
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
The undersigned, a duly authorized representative of Citibank (South
Dakota), National Association as Servicer, pursuant to the Amended and Restated
Pooling and Servicing Agreement dated as of April 24, 1998 (as amended and
supplemented, the 'Pooling and Servicing Agreement'), among Citibank (South
Dakota), National Association (as successor to Universal Bank, N.A.), as
Transferor and Citibank (South Dakota), National Association (as successor to
Universal Card Services Corp.), as Servicer and Bankers Trust Company, as
Trustee (the 'Trustee'), does hereby certify the information set forth below.
1. Capitalized terms used in the Certificate have their
respective meanings as set forth in the Agreement or Series
Supplement, as applicable.
2. Citibank (South Dakota), National Association, is, as of the
date hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occurring on March 18, 2002
5. As of the date hereof, to the best knowledge of
the undersigned, the Servicer has performed in
all material respects all its obligations under
the Agreement through the Due Period preceeding
such Distribution Date.
6. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed
to have occurred on or prior to such Distribution Date.
7. As of date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the
Receivables other than pursuant to the Agreement.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 19 day of
March 2002
Citibank (South Dakota), National Association,
Servicer
By: /s/ Andrew Lubliner
__________________________________________
Name: Andrew Lubliner
Title: Servicing Officer
Page 7
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
C2. Information Regarding Series 1997-1
------------------------------------
1. Total Investor Collections $ 134,435,111
Principal Collections $ 122,128,209
Reallocated Finance Charge Collections $ 12,306,902
2. Investor Default Amount $ 4,446,655
3. Investor Monthly Interest $ 1,527,150
4. Investor Monthly Servicing Fee $ 1,558,333
5. Excess Finance Charge Collections $ 4,779,559
</table>
*Finance charges have been reallocated based on sharing mechanics within the
Group, this amount also includes investment proceeds due to Series.
C3. Information Regarding Trigger Level
------------------------------------
<table>
<Caption>
Current Month
1. Series Adjusted Portfolio Yield - current month 9.44%
2. Base Rate - current month 3.70%
Coupon Component 1.83%
Servicing Component 1.87%
3. Excess Spread Percentage - current month 5.74%
</table>
<table>
<Caption>
3 Month Averages
4. Series Adjusted Portfolio Yield - 3 month average 10.48%
5. Base Rate - 3 month average 4.05%
Coupon Component 2.18%
Servicing Component 1.87%
6. Excess Spread Percentage - 3 month average 6.42%
</table>
Page 8
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
D. Information Regarding Series 1997-1
- --------------------------------------
1a. Class A Invested Amount $ 450,000,000
1b. Class B Invested Amount $ 80,000,000
1c. CIA Invested Amount $ 70,000,000
2a. Class A Monthly Interest $ 1,275,000
2b. Class B Monthly Interest $ 131,400
2c. CIA Monthly Interest $ 120,750
3a. Balance in the Class A Interest Funding Account $ 1,275,000
3b. Balance in the Class B Interest Funding Account $ 131,400
3c. Balance in the CIA Interest Funding Account $ 120,750
4a. Class A Investor Charge-offs $ 0
4b. Class B Investor Charge-offs $ 0
4c. CIA Investor Charge-offs $ 0
5. Required Amount $ 0
6a. Class A Principal Deposit to PFA (2) $ 400,000,000
6b. Class B Principal Deposit to PFA (2) $ 0
6c. CIA Principal Deposit to PFA (2) $ 0
7a. Balance in Class A Principal Funding Account (2) $ 400,000,000
7b. Balance in Class B Principal Funding Account (2) $ 0
7c. Balance in CIA Principal Funding Account (2) $ 0
</table>
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(2) Applicable during the Accumulation Period and any Early Amortization Period
Page 9
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
<table>
<Caption>
E. Information Regarding Charge-offs and Distributions to Certificateholders(3)
- ------------------------------------------------------------------------------
1a. The total amount of the distribution to Class A
Certificateholders on the Payment Date $ 0
1b. The total amount of the distribution to Class B
Certificateholders on the Payment Date $ 0
1c. The total amount of the distribution to CIA provider
on the Payment Date $ 120,750
2a. The amount of the distribution set forth in item 1(a) above
in respect of principal on the Class A Certificates $ 0
2b. The amount of the distribution set forth in item 1(b) above
in respect of principal on the Class B Certificates $ 0
2c. The amount of the distribution set forth in item 1(c) above
in respect of principal on the CIA $ 0
3a. The amount of the distribution set forth in item 1(a) above
in respect of interest on the Class A Certificates $ 0
3b. The amount of the distribution set forth in item 1(b) above
in respect of interest on the Class B Certificates $ 0
3c. The amount of the distribution set forth in item 1(c) above
in respect of interest on the CIA $ 120,750
4a. The amount, if any, by which the outstanding principal
balance of the Class A Certificates exceeds the Class A
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 400,000,000
4b. The amount, if any, by which the outstanding principal
balance of the Class B Certificates exceeds the Class B
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
4c. The amount, if any, by which the outstanding principal
balance of the CIA exceeds the CIA
Invested Amount as of the end of the Record Date with
respect to the Payment Date $ 0
</table>
----------------------------------------------------------
(3) The following information, as applicable, is included
only on Payment Date.
Page 10
Citibank (South Dakota), National Association, Transferor
Citibank (South Dakota), National Association, Servicer
==============================================================================
Universal Card Master Trust, Series 1997-1
For the Due Period Ending February 28, 2002
==============================================================================
This Certificate relates to the Due Period ending Feb 28, 2002 and the related
Distribution Date.
The undersigned, a duly authorized representative of Citibank (South
Dakota), National Association as Servicer, pursuant to the Amended and Restated
Pooling and Servicing Agreement dated as of April 24, 1998 (as amended and
supplemented, the 'Pooling and Servicing Agreement'), among Citibank (South
Dakota), National Association (as successor to Universal Bank, N.A.), as
Transferor and Citibank (South Dakota), National Association (as successor to
Universal Card Services Corp.), as Servicer and Bankers Trust Company, as
Trustee (the 'Trustee'), does hereby certify the information set forth below.
1. Capitalized terms used in the Certificate have their
respective meanings as set forth in the Agreement or Series
Supplement, as applicable.
2. Citibank (South Dakota), National Association, is, as of the
date hereof, the Servicer under the Agreement.
3. The undersigned is a Servicing Officer.
4. This Certificate relates to the Distribution Date
occurring on March 18, 2002
5. As of the date hereof, to the best knowledge of
the undersigned, the Servicer has performed in
all material respects all its obligations under
the Agreement through the Due Period preceeding
such Distribution Date.
6. As of the date hereof, to the best knowledge of the
undersigned, no Amortization Event has been deemed
to have occurred on or prior to such Distribution Date.
7. As of date hereof, to the best knowledge of the
undersigned, no Lien has been placed on any of the
Receivables other than pursuant to the Agreement.
IN WITNESS WHEREOF, the undersigned has duly
executed and delivered this Certificate this 19 day of
March 2002
Citibank (South Dakota), National Association,
Servicer
By: /s/ Andrew Lubliner
__________________________________________
Name: Andrew Lubliner
Title: Servicing Officer
Page 11