EXHIBIT 20.1
MONTHLY SERVICER'S CERTIFICATE
First USA Bank, N.A.
First NBC Credit Card Master Trust
Series 1997-1
For the September 10, 1999 Determination Date
For the 25th Monthly Period
The undersigned, a duly authorized representative of First USA Bank, N.A., (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 First National Bank
of Chicago, 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, N.A. is Servicer under the Pooling and Servicing Agreement.
3 The undersigned is a Servicing Officer.
4 The date of this Certificate is September 10, 1999, 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 $129,672,455
(a) The aggregate amount of Collections of Finance Charge Receivables
collected during the preceding Monthly Period the Collections of
Finance Charge Receivables $13,228,426
(b) The aggregate amount of Collections of Principal Receivables collected
during the preceding Monthly Period the Collections of Principal
Receivables was $116,444,029
6 The aggregate amount of Receivables as of the end of the last day of the
preceding Monthly Period was $887,308,373
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 $173,377,434
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 870,624,287
Beginning Excess Funding Account Balance 0
Beginning Total Principal Balance 870,624,287
Collections of Finance Charge Receivables 13,228,426
Discount Percentage 0
Discount Option Receivables Collections 0
Net Recoveries 0
Total Collections of Finance Charge Receivables 13,228,426
Total Collections of Principal Receivables 116,444,029
Net Default Amount 3,237,515
Minimum Aggregate Principal Receivables Balance 700,000,000
Ending Aggregate Principal Receivables 873,377,434
Ending Excess Funding Account Balance 0
Ending Total Principal Balance 873,377,434
(b) Series Allocations Series 1997-1 Series 1998-1 All Series
============================================= =====================================================
Group Number 1 2
Investor Interest 300,000,000 400,000,000 700,000,000
Adjusted Investor Interest 300,000,000 400,000,000 700,000,000
Principal Funding Account Balance 0 0 0
Minimum Transferor Interest 61,136,420
(c) Group I Allocations Series 1997-1 Total Group I
============================================== ===================================
Investor Finance Charge Collections 4,558,255 4,558,255
Investor Monthly Interest 1,536,430 1,536,430
Investor Monthly Fees (Servicing Fee) 375,000 375,000
Investor Default Amounts 1,115,584 1,115,584
Investor Additional Amounts 0 0
Total 3,027,014 3,027,014
Reallocated Investor Finance Charge Collections 4,558,255 4,558,255
Available Excess 1,531,242 1,531,242
12 Series 1997-1 Certificates
Series 1997-1 All Other Transferor's
(a) Investor/Transferor Allocations Trust Interest Series Interest
=====================================================================================================================
Beginning Investor/Transferor Amounts 870,624,287 300,000,000 400,000,000 170,624,287
Beginning Adjusted Investor Interest 870,624,287 300,000,000 400,000,000
Floating Investor Percentage 100.00000% 34.458033% 45.944043%
Fixed Investor Percentage 0.00000% 0.00000% 0.00000%
Collections of Finance Chg. Receivables 13,228,426 4,558,255 6,077,674
Collections of Principal Receivables 116,444,029 40,124,321 53,499,095
Net Default Amount 3,237,515 1,115,584 1,487,445
Ending Investor/Transferor Amounts 873,377,434 300,000,000 400,000,000 173,377,434
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 0 0 0 0
Principal Funding Investment Proceeds 0 0 0 0
Withdrawal from Reserve Account 0 0 0 0
Available Reserve Account Amount 0 0 0 0
Required Reserve Account Amount 0 0 0 0
Coupon 6.15000% 6.35000% 5.86875% 6.14572%
Floating Investor Percentage 29.80620% 2.41206% 2.23977% 34.45803%
Fixed Investor Percentage 0 0 0 0
Investor Monthly Interest 1,329,938 111,125 95,367 1,536,430
Overdue Monthly Interest 0 0 0 0
Additional Interest 0 0 0 0
Total Interest Due 1,329,938 111,125 95,367 1,536,430
Investor Default Amounts 964,980 78,091 72,513 1,115,584
Investor Monthly Fees 324,375 26,250 24,375 375,000
Investor Additional Amounts 0 0 0 0
Total Due 2,619,293 215,466 192,255 3,027,014
Collateral
(c) Certificates - Balances and Distributions Class A Class B Interest Total
========================================================================================================================
Beginning Investor Interest 259,500,000 21,000,000 19,500,000 300,000,000
Monthly Principal-Prin. Funding Account 0 0 0 0
Principal Payments 0 0 0 0
Interest Payments 1,329,938 111,125 95,367 1,536,430
Total Payments 1,329,938 111,125 95,367 1,536,430
Ending Investor Interest 259,500,000 21,000,000 19,500,000 300,000,000
(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
4. Amount of Payment in respect of Class A Additional Interest 0
5. Amount of Payment in respect of Class A Principal 0
(e) Class A Investor Charge-Offs/Reimbursement of Class A Investor
Charge-Offs
1. Total amount of Class A Investor Charge-Offs 0
2. Amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount 0
3. Total amount reimbursed in respect of Class A Investor Charge-Offs 0
4. Amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original
principal amount 0
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
(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
4. Amount of Payment in respect of Class B Additional Interest 0
5. Amount of Payment in respect of Class B Principal 0
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
2. Amount of reductions in Class B Investor Interest per $1,000 original certificate
principal amount 0
3. Total amount reimbursed in respect of reductions of Class B Investor Interest 0
4. Amount reimbursed in respect of reductions of Class B Investor Interest per
$1,000 original certificate principal amount 0
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
(h) Information regarding Distribution in respect of the Collateral Interest
1. Total distribution 4.890625
2. Amount of distribution in respect of Collateral Monthly Interest 4.890625
3. Amount of distribution in respect of Collateral Overdue Interest 0
4. Amount of distribution in respect of Collateral Monthly Principal 0
(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
2. Total amount reimbursed in respect of reductions of Collateral Interest 0
(j) Application of Reallocated Investor Finance Charge Collections
1. Class A Available Funds 3,942,891
a. Class A Monthly Interest 1,329,938
b. Class A Overdue Monthly Interest 0
c. Class A Additional Interest 0
d. Class A Servicing Fee 324,375
e. Class A Investor Default Amount 964,980
f. Excess Spread 1,323,598
2. Class B Available Funds 319,078
a. Class B Monthly Interest 111,125
b. Class B Overdue Monthly Interest 0
c. Class B Additional Interest 0
d. Class B Servicing Fee 26,250
e. Excess Spread 181,703
3. Collateral Holder Available Funds 296,287
a. Excess Spread 296,287
4. Total Excess Spread 1,801,588
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 1,801,588
2. Excess Finance Charge Collections 0
3. Applied to fund Class A Required Amount 0
4. Unreimbursed Class A Investor Charge-Offs 0
5. Applied to fund Class B Required Amount 78,091
6. Reductions of Class B Investor Interest treated as Available Principal Collections 0
7. Applied to Collateral Monthly Interest and unpaid Collateral Monthly Interest 95,367
8. Applied to Collateral Interest Servicing Fee and any overdue Collateral Interest Servicing Fee 24,375
9. Collateral Investor Default Amount treated as Available Principal Collections 72,513
10. Reductions of Collateral Interest treated as Available Principal Collections 0
11. Deposit to Reserve Account (if required) 0
12. Applied to other amounts owed to Collateral Interest Holder 0
13. Balance to constitute Excess Finance Charge Collections for other series 1,531,242
13 Trust Performance
(a) Delinquencies
1. 30-59 days 13,144,375
2. 60-89 days 6,694,321
3. 90 days and over 13,518,989
4. Total 30+ days delinquent 33,357,685
(b) Base Rate
a. Current Monthly Period 8.14572%
b. Prior Monthly Period 8.16500%
c. Second Prior Monthly Period 8.12744%
(c) Three Month Average Base Rate 8.14605%
(d) Portfolio Yield (gross portfolio yield less net defaults)
a. Current Monthly Period 13.77069%
b. Prior Monthly Period 11.97922%
c. Second Prior Monthly Period 12.44504%
(e) Three Month Average Portfolio Yield 12.73165%
(f) Excess Spread Percentage
a. Current Monthly Period 6.12497%
b. Prior Monthly Period 4.31423%
c. Second Prior Monthly Period 4.81760%
(g) Three Month Average Excess Spread Percentage 5.08560%
(h) Monthly Payment Rate (total collections/beginning aggregate principal receivables) 14.89419%
(i) Portfolio Adjusted Yield 5.62497%
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 10th day of September
First USA Bank, N.A., as Servicer
By: /s/ Tracie Klein
---------------------------
Name: Tracie Klein
Title: First Vice President