EXHIBIT 25.1
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE
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CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
A TRUSTEE PURSUANT TO SECTION 305(b)(2)
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THE BANK OF NEW YORK
(Exact name of trustee as specified in its charter)
NEW YORK 13-5160382
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
1 WALL STREET 10286
NEW YORK, NEW YORK (Zip Code)
(Address of principal executive offices)
Michael Shepherd
General Counsel
One Wall Street
15th Floor
New York, New York 10286
Tel: 212 635-6748
(Name, address and telephone number of agent for service)
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GRACECHURCH CARD FUNDING (NO. 2) PLC
(Exact name of obligor as specified in its charter)
ENGLAND AND WALES NONE
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
54 LOMBARD STREET
LONDON EC3P 3AH
UNITED KINGDOM N/A
(Address of principal executive offices) (Zip Code)
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$900,000,000 CLASS A FLOATING RATE ASSET-BACKED NOTES
$50,000,000 CLASS B FLOATING RATE ASSET-BACKED NOTES
$50,000,000 CLASS C FLOATING RATE ASSET-BACKED NOTES
(Title of the indenture securities)
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BARCLAYCARD FUNDING PLC
(Exact name of obligor as specified in its charter)
ENGLAND AND WALES NONE
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
54 LOMBARD STREET
LONDON EC3P 3AH
UNITED KINGDOM N/A
(Address of principal executive offices) (Zip Code)
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(POUND)638,900,000* SERIES 02-1 FLOATING RATE MEDIUM TERM
NOTE CERTIFICATE DUE 2009
(Title of the indenture securities)
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*This amount is the sterling equivalent of $1,000,000,000 converted using the
exchange rate referred to under the "U.S. Dollar Presentation" section of the
Prospectus. The actual sterling principal amount of the series 02-1 medium term
note certificate will be the sterling equivalent of $1,000,000,000 using the
fixed exchange rate in the swap agreements.
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GENERAL
Item 1. General Information.
Furnish the following information as to the trustee:
(a) Name and address of each examining or supervising authority to which
it is subject.
Superintendent of Banks of the State of New York, 2 Rector Street, New
York, New York 10006 and Albany, New York, 12203.
Board of Governors of the Federal Reserve System, Washington, D.C.,
20551
Federal Reserve Bank of New York, District No. 2, 33 Liberty Plaza,
New York, New York, 10045
Federal Deposit Insurance Corporation, Washington, D.C., 20429.
(b) Whether it is authorized to exercise corporate trust powers.
Yes.
Item 2. Affiliations with the Obligor.
If the obligor is an affiliate of the trustee, describe each such
affiliation.
None.
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Item 16. List of Exhibits
List below all exhibits filed as a part of this Statement of
Eligibility.
1. A copy of the Organization Certificate of the Trustee (The Bank
of New York, formerly Irving Trust Company) as now in effect,
which contains the authority to commence business and a grant of
powers to exercise corporate trust powers.
2. None; Certificate of Authority being contained in the documents
identified above as Exhibit 1.
3. None, authorization to exercise corporate trust powers being
contained in the documents identified above as Exhibit 1.
4. A copy of the existing By-Laws of the Trustee.
5. Not applicable.
6. The consent of the Trustee required by Section 321(b) of the Act.
7. A copy of the latest report of condition of the Trustee,
published pursuant to law or the requirements of its supervising
or examining authority.
8. Not applicable.
9. Not applicable.
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SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
Trustee, The Bank of New York, a corporation organized and existing under the
laws of the State of New York, has duly caused this statement of eligibility to
be signed on its behalf by the undersigned, thereunto duly authorized in the
City of London in the United Kingdom, on the 10th of October, 2002.
THE BANK OF NEW YORK
By: /s/ Louise Clayden, Assistant Vice President
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EXHIBIT 7 TO FORM T-1
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Consolidated Report of Condition of
THE BANK OF NEW YORK
of One Wall Street, New York, N.Y. 10286
And Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System, at the close of business March 31, 2002,
published in accordance with a call made by the Federal Reserve Bank of this
District pursuant to the provisions of the Federal Reserve Act.
Dollar Amounts
ASSETS In Thousands
Cash and balances due from depository
institutions:
Noninterest-bearing balances and currency
and coin ............................................... $ 3,765,462
Interest-bearing balances ................................. 3,835,061
Securities:
Held-to-maturity securities ............................... 1,232,736
Available-for-sale securities ............................. 10,522,833
Federal funds sold and Securities purchased
under agreements to resell ................................ 1,456,635
Loans and lease financing receivables:
Loans and leases held for sale ............................ 801,505
Loans and leases, net of unearned
income .................................................. 46,206,726
LESS: Allowance for loan and
lease losses ............................................ 607,115
Loans and leases, net of unearned
income and allowance .................................... 35,249,695
Trading Assets ............................................... 8,132,696
Premises and fixed assets (including capitalized
leases) ................................................... 898,980
Other real estate owned ...................................... 911
Investments in unconsolidated subsidiaries and
associated companies ...................................... 220,609
Customers' liability to this bank on acceptances
outstanding ............................................... 574,020
Intangible assets
Goodwill .................................................. 1,714,761
Other intangible assets ................................... 49,213
Other assets ................................................. 5,001,308
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Total assets ................................................. $ 73,954,859
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LIABILITIES
Deposits:
In domestic offices ....................................... $ 29,175,631
Noninterest-bearing ....................................... 11,070,277
Interest-bearing .......................................... 18,105,354
In foreign offices, Edge and Agreement
subsidiaries, and IBFs .................................. 24,596,600
Noninterest-bearing ....................................... 321,299
Interest-bearing .......................................... 24,275,301
Federal funds purchased and securities sold
under agreements to repurchase ............................ 1,922,197
Trading liabilities .......................................... 1,970,040
Other borrowed money:
(includes mortgage indebtedness and
obligations under capitalized leases) ..................... 1,577,518
Bank's liability on acceptances executed and
outstanding ............................................... 575,362
Subordinated notes and debentures ............................ 1,940,000
Other liabilities ............................................ 5,317,831
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Total liabilities ............................................ $ 67,075,179
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EQUITY CAPITAL
Common stock ................................................. 1,135,284
Surplus ...................................................... 1,055,508
Retained earnings ............................................ 4,227,287
Accumulated other comprehensive income ....................... (38,602)
Other equity capital components .............................. 0
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Total equity capital ......................................... 6,379,477
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Total liabilities and equity capital ......................... $ 73,954,859
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I, Thomas J. Mastro, Senior Vice President and Comptroller of the
above-named bank do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued by the Board of Governors
of the Federal Reserve System and is true to the best of my knowledge and
belief.
Thomas J. Mastro,
Senior Vice President and Comptroller
We, the undersigned directors, attest to the correctness of this Report of
Condition and declare that it has been examined by us and to the best of our
knowledge and belief has been prepared in conformance with the instructions
issued by the Board of Governors of the Federal Reserve System and is true and
correct.
Thomas A. Renyi
Gerald L. Hassell Directors
Alan R. Griffith
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