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) June 12, 2000
-------------
FIRST USA BANK, NATIONAL ASSOCIATION
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
(As Servicer on behalf of FIRST CHICAGO MASTER TRUST II)
Laws of the United States 0-16337 51-0269396
------------------------- ------- ----------
(State or other jurisdiction of (Commission File Number) (IRS Employer Identification
incorporation or organization) Number)
201 North Walnut Street, Wilmington, Delaware 19801
- --------------------------------------------------------------------------------
(Address of principal executive offices) (Zip Code)
302/594-4117
- ------------------------------------------------------
Registrant's telephone number, including area code
Item 5. Other Events
The Registrant's hereby incorporated by reference the information contained
in Exhibit 28 hereto in response to this Item 5.
In the May reporting period, certain charge-off policies for the Trust were
changed in order to conform these policies to new guidelines adopted by the
Federal Financial Institution Examination Council. The changes relate to the
timing of recognition of losses on accounts of which the cardholder has filed
for bankruptcy or died. The implementation of these changes has caused a one-
time acceleration of certain charge-offs. Accounts of bankrupt cardholders were
previously charged off 90 days after First USA Bank, National Association, the
Servicer of the Trust, was notified of bankruptcy. These accounts will now be
charged off 60 days after notification. Accounts of deceased customers were
previously charged off after 180 days but under the new policy will be charged
off after 60 days.
These policy changes will cause a one-time increase in net credit losses
for the May Trust results. Reported Trust net credit losses for May were 9.94%
after the one time increase in charge-offs due to bankruptcy or death of 3.24%.
Without the impact of the policy change, net credit losses would have been
6.70%. The impact on one month excess spread and three month average excess
spread was approximately 3.24% and 1.08%, respectively.
Item 7. Financial Statements and Exhibits
(c) Exhibits
28A. Monthly Servicer's Certificate -
Floating Rate Credit Card Certificates Series 1995-M
Floating Rate Credit Card Certificates Series 1995-O
Floating Rate Credit Card Certificates Series 1995-P
Floating Rate Asset Backed Certificates Series 1996-Q
Floating Rate Asset Backed Certificates Series 1996-S
Floating Rate Asset Backed Certificates Series 1997-T
Floating Rate Asset Backed Certificates Series 1997-U
Floating Rate Asset Backed Certificates Series 1998-V
Floating Rate Asset Backed Certificates Series 1999-W
Floating Rate Asset Backed Certificates Series 1999-X
Floating Rate Asset Backed Certificates Series 1999-Y
28B. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Credit Card Certificates Series 1995-M
28C. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Credit Card Certificates Series 1995-O
28D. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Credit Card Certificates Series 1995-P
28E. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1996-Q
28F. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1996-S
28G. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1996-T
28H. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1997-U
28I. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1997-V
28J. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1998-W
28K. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1999-X
28L. Certificateholder's Payment Date Statement - First Chicago Master
Trust II Floating Rate Asset Backed Certificates Series 1999-Y
SIGNATURE
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 thereunto duly authorized.
FIRST USA BANK, NATIONAL ASSOCIATION
As Servicer
By: /s/ Tracie H. Klein
--------------------------------
Name: Tracie H. Klein
Title: First Vice President
Date: June 12, 2000
-------------
INDEX TO EXHIBITS
Exhibit Number Description of Exhibit
- --------------------------------------------------------------------------------
28A. Monthly Servicer's Certificate -
Floating Rate Credit Card Certificates Series 1995-M
Floating Rate Credit Card Certificates Series 1995-O
Floating Rate Credit Card Certificates Series 1995-P
Floating Rate Asset Backed Certificates Series 1996-Q
Floating Rate Asset Backed Certificates Series 1996-S
Floating Rate Asset Backed Certificates Series 1997-T
Floating Rate Asset Backed Certificates Series 1997-U
Floating Rate Asset Backed Certificates Series 1998-V
Floating Rate Asset Backed Certificates Series 1999-W
Floating Rate Asset Backed Certificates Series 1999-X
Floating Rate Asset Backed Certificates Series 1999-Y
28B. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Credit Card Certificates
Series 1995-M
28C. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Credit Card Certificates
Series 1995-O
28D. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Credit Card Certificates
Series 1995-P
28E. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1996-Q
28F. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1996-S
28G. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1996-T
28H. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1997-U
28I. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1997-V
28J. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1998-W
28K. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1999-X
28L. Certificateholder's Payment Date Statement - First Chicago
Master Trust II Floating Rate Asset Backed Certificates
Series 1999-Y