Exhibit 20.2
MONTHLY SERVICER'S CERTIFICATE
First USA Bank, National Association
First NBC Credit Card Master Trust
Series 1997-1
For the April 10, 2002 Determination Date
For the 56th Monthly Period
The undersigned, a duly authorized representative of First USA Bank, National
Association, (the "Bank"), pursuant to the Pooling and Servicing Agreement (the
"Pooling and Servicing Agreement"), dated as of August 1, 1997, by and between
the Bank, as successor Transferor and Servicer to Bank One Louisiana, N.A. (as
successor to the First National Bank of Commerce ("First NBC")) and The Bank of
New York, as Trustee, does hereby certify as follows:
1. Capitalized terms used in this Certificate have their respective meanings
as set forth in the Pooling and Servicing Agreement; provided, that the
"preceding Monthly Period" shall mean the Monthly Period immediately
preceding the calendar month in which this Certificate is delivered. This
Certificate is delivered pursuant to subsection 3.4(b) of the Pooling and
Servicing Agreement. References herein to certain sections and subsections
are references to the respective sections and subsections of the Pooling
and Servicing Agreement, as amended by the applicable Series Supplement.
2. First USA Bank, National Association, is Servicer under the Pooling
and Servicing Agreement.
3. The undersigned is a Servicing Officer.
4. The date of this Certificate is April 10, 2002, which is a Determination
Date under the Pooling and Servicing Agreement
5. The aggregate amount of Collections processed during the preceding Monthly
Period equal to 5(a) plus 5(b)] was $109,647,832.32
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period (the Collections of
Finance Charge Receivables) was $11,920,029.29
(b) The aggregate amount of Collections of Principal Receivables
collected during the preceding Monthly Period (the Collections
of Principal Receivables) was $97,727,803.03
6. The aggregate amount of Receivables as of the end of the last day of the
preceding Monthly Period was $787,920,961.48
7. Included is an authentic copy of the statements required to be delivered by
the Servicer on the date of this Certificate to the Paying Agent pursuant
to Article V.
8. To the knowledge of the undersigned, there are no liens on any Receivables
in the Trust except as described below:
None.
9. The amount, if any, by which the sum of the balance of the Excess Funding
Account and the Aggregate Principal Receivables exceeds the Minimum
Aggregate Principal Receivables required to be maintained pursuant to the
Pooling and Servicing Agreement, is equal to $74,976,201.56
10. The amount, if any, of the withdrawal of the Specified Deposit from the
Finance Charge Account required to be made by the Trustee pursuant to
subsection 4.3(a) of the Pooling and Servicing Agreement on the related
Transfer Date is $0.00
Monthly Servicer's Certificate.
Page 2 (all amounts in dollars except percentages)
11. Monthly Period Trust Activity
(a) Trust Activity Total Trust
=============================================== ===============
Beginning Aggregate Principal Receivables 784,239,858.70
Beginning Excess Funding Account Balance 0.00
Beginning Total Principal Balance 784,239,858.70
Collections of Finance Charge Receivables 11,920,029.29
Discount Percentage 0.00
Discount Option Receivables Collections 0.00
Net Recoveries 0.00
Total Collections of Finance Charge Receivables 11,920,029.29
Total Collections of Principal Receivables 97,727,803.03
Net Default Amount 2,785,483.57
Minimum Aggregate Principal Receivables Balance 700,000,000.00
Ending Aggregate Principal Receivables 774,976,201.56
Ending Excess Funding Account Balance 0.00
Ending Total Principal Balance 774,976,201.56
(b) Series Allocations (as of 3/31/02) Series 1997-1 Series 1998-1 All Series
=============================================== ================================================================
Group Number 1 2
Investor Interest 291,105,358.89 400,000,000.00 691,105,358.89
Adjusted Investor Interest 161,355,358.89 400,000,000.00 561,355,358.89
Principal Funding Account Balance 129,750,000.00 0.00 129,750,000.00
Minimum Transferor Interest 54,248,334.11
(c) Group I Allocations Series 1997-1 Total Group I
=============================================== =======================================
Investor Finance Charge Collections 3,540,722.79 3,540,722.79
Investor Monthly Interest 1,463,893.48 1,463,893.48
Investor Monthly Fees (Servicing Fee) 201,694.20 201,694.20
Investor Default Amounts 671,683.43 671,683.43
Investor Additional Amounts 498,064.49 498,064.49
Total 2,835,335.60 2,835,335.60
Reallocated Investor Finance Charge Collections 3,540,722.79 3,540,722.79
Available Excess 705,387.19 705,387.19
12. Series 1997-1 Certificates
Series 1997-1 All Other Transferor's
(a) Investor/Transferor Allocations Trust Interest Series Interest
===========================================================================================================================
Beginning Investor/Transferor Amounts 784,239,858.70 161,355,358.89 400,000,000.00 222,884,499.81
Beginning Adjusted Investor Interest 784,239,858.70 161,355,358.89 400,000,000.00
Floating Investor Percentage 100.000000% 24.113710% 51.004800%
Fixed Investor Percentage 100.000000% 38.253600% 51.004800%
Collections of Finance Chg. Receivables 11,920,029.29 3,540,722.79 6,078,851.03
Collections of Principal Receivables 97,727,803.03 37,384,402.89 49,845,870.55
Net Default Amount 2,785,483.57 671,683.43 1,420,730.33
Ending Investor/Transferor Amounts 774,976,201.56 133,800,000.00 348,733,399.13 292,442,802.43
Monthly Servicer's Certificate.
Page 3 (all amounts in dollars except percentages)
Collateral
(b) Monthly Period Funding Requirements Class A Class B Interest Total
=========================================================================================================================
Principal Funding Account 25,950,000.00 0.00 0.00 25,950,000.00
Principal Funding Investment Proceeds 166,904.26 0.00 0.00 166,904.26
Withdrawal from Reserve Account 498,064.49 0.00 0.00 498,064.49
Available Reserve Account Amount 1,297,500.00 0.00 0.00 1,297,500.00
Required Reserve Account Amount 1,297,500.00 0.00 0.00 1,297,500.00
Coupon 6.15000% 6.35000% 2.50000% 9.29895%
Floating Investor Percentage 19.85362% 2.67775% 1.58234% 24.11371%
Fixed Investor Percentage 33.08937% 2.67775% 2.48648% 38.25360%
Investor Monthly Interest 1,329,937.50 111,125.00 22,830.98 1,463,893.48
Overdue Monthly Interest 0.00 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00 0.00
Total Interest Due 1,329,937.50 111,125.00 22,830.98 1,463,893.48
Investor Default Amounts 553,019.32 74,588.29 44,075.82 671,683.43
Investor Monthly Fees 162,187.50 26,250.00 13,256.70 201,694.20
Investor Additional Amounts 498,064.49 0.00 0.00 498,064.49
Total Due 2,543,208.81 211,963.29 80,163.50 2,835,335.60
Collateral
(c) Certificates - Balances and Distributions Class A Class B Interest Total
=========================================================================================================================
Beginning Investor Interest 129,750,000.00 21,000,000.00 10,605,358.89 161,355,358.89
Monthly Principal - Prin. Funding Account 25,950,000.00 0.00 0.00 25,950,000.00
Principal Payments 0.00 0.00 1,605,358.89 1,605,358.89
Interest Payments 1,329,937.50 111,125.00 22,830.98 1,463,893.48
Total Payments 27,279,937.50 111,125.00 1,628,189.87 29,019,252.37
Ending Investor Interest 103,800,000.00 21,000,000.00 9,000,000.00 133,800,000.00
(d) Information regarding Payments in respect of the Class A Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.125000
2. Amount of Payment in respect of Class A Monthly Interest 5.125000
3. Amount of Payment in respect of Class A Overdue Monthly Interest 0.000000
4 .Amount of Payment in respect of Class A Additional Interest 0.000000
5. Amount of Payment in respect of Class A Principal 0.000000
(e) Class A Investor Charge-Offs/Reimbursement of Class A Investor Charge-Offs
1. Total Amount of Class A Investor Charge-Offs 0.00
2. Amount of Class A Investor Charge-Offs per $1,000 original certificate
principal amount 0.00
3. Total amount reimbursed in respect of Class A Investor Charge-Offs 0.00
4. Amount reimbursed in respect of Class A Investor Charge-Offs per $1,000
original principal amount 0.00
5. The amount, if any, by which the outstanding Principal Balance of the Class A
Certificates exceeds the Class A Adjusted Investor Interest after
giving effect to all transactions on such Distribution Date 0.00
(f) Information regarding Payments in respect of the Class B Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.291667
2. Amount of Payment in respect of Class B Monthly Interest 5.291667
3. Amount of Payment in respect of Class B Overdue Monthly Interest 0.000000
4. Amount of Payment in respect of Class B Additional Interest 0.000000
5 .Amount of Payment in respect of Class B Principal 0.000000
Monthly Servicer's Certificate.
Page 4 (all amounts in dollars except percentages)
(g) Amount of reductions in Class B Investor Interest pursuant to clauses
(c),(d) and (e) of the definition of Class B Investor Interest
1. Amount of reductions in Class B Investor Interest 0.00
2. Amount of reductions in Class B Investor Interest per $1,000 original
certificate principal amount 0.00
3. Total amount reimbursed in respect of reductions of Class B Investor Interest 0.00
4. Amount reimbursed in respect of reductions of Class B Investor Interest
per $1,000 original certficate principal amount 0.00
5. The amount, if any, by which the outstanding Principal Balance of the Class B
Certificates exceeds the Class B Investor Interest after giving effect to all
transactions on such Distribution Date 0.00
(h) Information regarding the Distribution in respect of the Collateral
Interest (per $1,000 original certificate principal amount)
1. Total distribution 83.496916
2. Amount of distribution in respect of Collateral Monthly Interest 1.170819
3. Amount of distribution in respect of Collateral Overdue Interest 0.000000
4. Amount of distribution in respect of Collateral Monthly Principal 82.326097
(i) Amount of reductions in Collateral Interest pursuant to clauses (c),
(d), and (e) of the definition of Collateral Interest
1. Amount of reductions in Collateral Interest 0.00
2. Total amount reimbursed in respect of reductions of Collateral Interest 0.00
(j) Application of Reallocated Investor Finance Charge Collections
1. Class A Available Funds 3,032,997.00
a. Class A Monthly Interest 1,329,937.50
b. Class A Overdue Monthly Interest 0.00
c. Class A Additional Interest 0.00
d. Class A Servicing Fee 162,187.50
e. Class A Investor Default Amount 553,019.32
f. Excess Spread 987,852.68
2. Class B Available Funds 319,139.46
a. Class B Monthly Interest 111,125.00
b. Class B Overdue Monthly Interest 0.00
c. Class B Additional Interest 0.00
d. Class B Servicing Fee 26,250.00
e. Excess Spread 181,764.46
3. Collateral Holder Available Funds 188,586.33
a. Excess Spread 188,586.33
4. Total Excess Spread 1,358,203.47
Monthly Servicer's Certificate.
Page 5 (all amounts in dollars except percentages)
(k) Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 1997-1
1. Beginning Excess Spread 1,358,203.47
2. Excess Finance Charge Collections 0.00
3. Applied to fund Class A Required Amount 0.00
4. Unreimbursed Class A Investor Charge-Offs 0.00
5. Applied to fund Class B Required Amount 74,588.29
6. Reductions of Class B Investor Interest treated as Available Principal Collections 0.00
7. Applied to Collateral Monthly Interest and unpaid Collateral Monthly Interest 22,830.98
8. Applied to Collateral Interest Servicing Fee and any overdue Collateral Interest Servicing Fee 13,256.70
9. Collateral Investor Default Amount treated as Available Principal Collections 44,075.82
10. Reductions of Collateral Interest treated as Available Principal Collections 0.00
11. Deposit to Reserve Account (if required) 498,064.49
12. Applied to other amounts owed to Collateral Interest Holder 0.00
13. Balance to constitute Excess Finance Charge Collections for other series 705,387.19
13. Trust Performance
(a) Delinquencies
1. 30-59 days 9,054,762.76
2. 60-89 days 5,451,844.70
3. 90 days and over 10,425,132.01
4. Total 30+ days delinquent 24,931,739.47
(b) Base Rate
a. Current Monthly Period 8.03449%
b. Prior Monthly Period 8.00057%
c. Second Prior Monthly Period 7.98825%
(c) Three Month Average Base Rate 8.00777%
(d) Portfolio Yield (gross portfolio yield less net defaults)
a. Current Monthly Period 11.82681%
b. Prior Monthly Period 11.42160%
c. Second Prior Monthly Period 12.45173%
(e) Three Month Average Portfolio Yield 11.90004%
(f) Excess Spread Percentage
a. Current Monthly Period 7.63654%
b. Prior Monthly Period 6.01396%
c. Second Prior Monthly Period 6.45735%
(g) Three Month Average Excess Spread Percentage 6.70262%
(h) Monthly Payment Rate (total collections/beginning aggregate principal receivables) 13.98142%
(i) Portfolio Adjusted Yield 3.79232%
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 10th day of April.
First USA Bank, National Association, as Servicer
By: /s/ Tracie Klein
----------------------------------------------
Name: Tracie Klein
Title: First Vice President