Exhibit 20.2
MONTHLY SERVICER'S CERTIFICATE
First USA Bank, National Association
First NBC Credit Card Master Trust
Series 1997-1
For the June 12, 2002 Determination Date
For the 58th 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 June 12, 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 $104,960,415.21
(a) The aggregate amount of Collections of Finance Charge
Receivables collected during the preceding Monthly
Period (the Collections of Finance Charge Receivables)
was $10,765,310.71
(b) The aggregate amount of Collections of Principal
Receivables collected during the preceding Monthly
Period (the Collections of Principal Receivables) was $94,195,104.50
6. The aggregate amount of Receivables as of the end of the
last day of the preceding Monthly Period was $797,388,047.20
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 $84,149,278.66
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 782,117,498.61
Beginning Excess Funding Account Balance 0.00
Beginning Total Principal Balance 782,117,498.61
Collections of Finance Charge Receivables 10,765,310.71
Discount Percentage 0.00
Discount Option Receivables Collections 0.00
Net Recoveries 0.00
Total Collections of Finance Charge Receivables 10,765,310.71
Total Collections of Principal Receivables 94,195,104.50
Net Default Amount 2,750,026.30
Minimum Aggregate Principal Receivables Balance 700,000,000.00
Ending Aggregate Principal Receivables 784,149,278.66
Ending Excess Funding Account Balance 0.00
Ending Total Principal Balance 784,149,278.66
(b) Series Allocations (as of 5/31/02) Series 1997-1 Series 1998-1 All Series
=================================================== ============================================================
Group Number 1 2
Investor Interest 289,500,000.00 301,113,221.79 590,613,221.79
Adjusted Investor Interest 107,850,000.00 301,113,221.79 408,963,221.79
Principal Funding Account Balance 181,650,000.00 0.00 181,650,000.00
Minimum Transferor Interest 54,890,449.51
(c) Group I Allocations Series 1997-1 Total Group I
=================================================== =========================================
Investor Finance Charge Collections 2,774,102.41 2,774,102.41
Investor Monthly Interest 1,461,192.50 1,461,192.50
Investor Monthly Fees (Servicing Fee) 134,812.50 134,812.50
Investor Default Amounts 470,457.99 470,457.99
Investor Additional Amounts 697,006.99 697,006.99
Total 2,763,469.98 2,763,469.98
Reallocated Investor Finance Charge Collections 2,774,102.41 2,774,102.41
Available Excess 10,632.43 10,632.43
12. Series 1997-1 Certificates
Series 1997-1 All Other Transferor's
(a) Investor/Transferor Allocations Trust Interest Series Interest
===================================================================================================================
Beginning Investor/Transferor Amounts 782,117,498.61 107,850,000.00 301,113,221.79 373,154,276.82
Beginning Adjusted Investor Interest 782,117,498.61 107,850,000.00 301,113,221.79
Floating Investor Percentage 100.000000% 17.107400% 44.588360%
Fixed Investor Percentage 100.000000% 38.357410% 51.143200%
Collections of Finance Chg. Receivables 10,765,310.71 2,774,102.41 4,799,278.67
Collections of Principal Receivables 94,195,104.50 36,130,802.41 48,174,390.72
Net Default Amount 2,750,026.30 470,457.99 1,226,191.62
Ending Investor/Transferor Amounts 784,149,278.66 81,900,000.00 251,712,639.46 450,536,639.20
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 233,949.26 0.00 0.00 233,949.26
Withdrawal from Reserve Account 697,006.99 0.00 0.00 697,006.99
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% 2.44000% 13.10487%
Floating Investor Percentage 13.27166% 2.68502% 1.15072% 17.10740%
Fixed Investor Percentage 33.17916% 2.68502% 2.49323% 38.35741%
Investor Monthly Interest 1,329,937.50 111,125.00 20,130.00 1,461,192.50
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 20,130.00 1,461,192.50
Investor Default Amounts 364,974.14 73,838.75 31,645.10 470,457.99
Investor Monthly Fees 97,312.50 26,250.00 11,250.00 134,812.50
Investor Additional Amounts 697,006.99 0.00 0.00 697,006.99
Total Due 2,489,231.13 211,213.75 63,025.10 2,763,469.98
Collateral
(c) Certificates - Balances and Distributions Class A Class B Interest Total
==================================================================================================================
Beginning Investor Interest 77,850,000.00 21,000,000.00 9,000,000.00 107,850,000.00
Monthly Principal - Prin. Funding Account 25,950,000.00 0.00 0.00 25,950,000.00
Principal Payments 0.00 0.00 0.00 0.00
Interest Payments 1,329,937.50 111,125.00 20,130.00 1,461,192.50
Total Payments 27,279,937.50 111,125.00 20,130.00 27,411,192.50
Ending Investor Interest 51,900,000.00 21,000,000.00 9,000,000.00 81,900,000.00
(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 1.032308
2. Amount of distribution in respect of Collateral Monthly Interest 1.032308
3. Amount of distribution in respect of Collateral Overdue Interest 0.000000
4. Amount of distribution in respect of Collateral Monthly Principal 0.000000
(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 2,361,241.63
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 97,312.50
e. Class A Investor Default Amount 364,974.14
f. Excess Spread 569,017.49
2. Class B Available Funds 289,002.77
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 151,627.77
3. Collateral Holder Available Funds 123,858.01
a. Excess Spread 123,858.01
4. Total Excess Spread 844,503.27
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 844,503.27
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 73,838.75
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 20,130.00
8. Applied to Collateral Interest Servicing Fee and any overdue Collateral Interest Servicing Fee 11,250.00
9. Collateral Investor Default Amount treated as Available Principal Collections 31,645.10
10. Reductions of Collateral Interest treated as Available Principal Collections 0.00
11. Deposit to Reserve Account (if required) 697,006.99
12. Applied to other amounts owed to Collateral Interest Holder 0.00
13. Balance to constitute Excess Finance Charge Collections for other series 10,632.43
13. Trust Performance
(a) Delinquencies
1. 30-59 days 8,945,292.51
2. 60-89 days 5,582,332.91
3. 90 days and over 9,170,985.75
4. Total 30+ days delinquent 23,698,611.17
(b) Base Rate
a. Current Monthly Period 8.05676%
b. Prior Monthly Period 8.04979%
c. Second Prior Monthly Period 8.03449%
(c) Three Month Average Base Rate 8.04701%
(d) Portfolio Yield (gross portfolio yield less net defaults)
a. Current Monthly Period 9.54879%
b. Prior Monthly Period 9.75023%
c. Second Prior Monthly Period 11.82681%
(e) Three Month Average Portfolio Yield 10.37528%
(f) Excess Spread Percentage
a. Current Monthly Period 6.34654%
b. Prior Monthly Period 5.39540%
c. Second Prior Monthly Period 7.63654%
(g) Three Month Average Excess Spread Percentage 6.45950%
(h) Monthly Payment Rate (total collections/beginning aggregate principal receivables) 13.42003%
(i) Portfolio Adjusted Yield 1.49203%
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 12th day of June.
First USA Bank, National Association, as Servicer
By: /s/ Tracie Klein
--------------------------------------
Name: Tracie Klein
Title: First Vice President