1
Securities Act of 1933 File No.
---------
(If application to determine eligibility of trustee
for delayed offering pursuant to Section 305 (b) (2))
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
----------------------
FORM T-1
STATEMENT OF ELIGIBILITY UNDER THE TRUST INDENTURE ACT OF 1939
OF A CORPORATION DESIGNATED TO ACT AS TRUSTEE
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b)(2)
-----------
----------------------
THE CHASE MANHATTAN BANK
(NATIONAL ASSOCIATION)
(Exact name of trustee as specified in its charter)
13-2633612
(I.R.S. Employer Identification Number)
1 CHASE MANHATTAN PLAZA, NEW YORK, NEW YORK
(Address of principal executive offices)
10081
(Zip Code)
----------------------
NORWEST FINANCIAL, INC.
(Exact name of obligor as specified in its charter)
IOWA
(State or other jurisdiction of incorporation or organization)
42-1186565
(I.R.S. Employer Identification No.)
206 EIGHTH STREET
DESMOINES, IOWA
(Address of principal executive offices)
50309
(Zip Code)
----------------------
SENIOR DEBT SECURITIES
(Title of the indenture securities)
================================================================================
2
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.
Comptroller of the Currency, Washington, D.C.
Board of Governors of The Federal Reserve System,
Washington, D. C.
(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.
The Trustee is not the obligor, nor is the Trustee directly or
indirectly controlling, controlled by, or under common control with
the obligor.
(See Note on Page 2.)
ITEM 16. LIST OF EXHIBITS.
List below all exhibits filed as a part of this statement of eligibility.
*1. -- A copy of the articles of association of the trustee as now in
effect. (See Exhibit T-1 (Item 12) , Registration No. 33-55626.)
*2. -- Copies of the respective authorizations of The Chase Manhattan Bank
(National Association) and The Chase Bank of New York (National
Association) to commence business and a copy of approval of merger
of said corporations, all of which documents are still in effect.
(See Exhibit T-1 (Item 12), Registration No. 2-67437.)
*3. -- Copies of authorizations of The Chase Manhattan Bank (National
Association) to exercise corporate trust powers, both of which
documents are still in effect. (See Exhibit T-1 (Item 12),
Registration No. 2-67437).
*4. -- A copy of the existing by-laws of the trustee. (See Exhibit T-1
(Item 12(a)), Registration No. 33-60809.)
*5. -- A copy of each indenture referred to in Item 4, if the obligor is in
default. (Not applicable).
*6. -- The consents of United States institutional trustees required by
Section 321(b) of the Act. (See Exhibit T-1, (Item 12),
Registration No. 22-19019.)
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.
-----------
*The Exhibits thus designated are incorporated herein by reference. Following
the description of such Exhibits is a reference to the copy of the Exhibit
heretofore filed with the Securities and Exchange Commission, to which there
have been no amendments or changes.
-------------------
1.
3
NOTE
Inasmuch as this Form T-1 is filed prior to the ascertainment by the
trustee of all facts on which to base a responsive answer to Item 2 the answer
to said Item is based on incomplete information.
Item 2 may, however, be considered as correct unless amended by an
amendment to this Form T-1.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
trustee, The Chase Manhattan Bank (National Association), a corporation
organized and existing under the laws of the United States of America, has
duly caused this statement of eligibility to be signed on its behalf by the
undersigned, thereunto duly authorized , all in the City of New York, and the
State of New York, on the 14th day September, 1995
THE CHASE MANHATTAN BANK
(NATIONAL ASSOCIATION)
By: /s/ Cathleen Sokolowski
--------------------------
Cathleen Sokolowski
Second Vice President
-----------------
2
4
EXHIBIT 7
REPORT OF CONDITION
Consolidating domestic and foreign subsidiaries of the
THE CHASE MANHATTAN BANK, N.A.
of New York in the State of New York, at the close of business on June 30, 1995,
published in response to call made by Comptroller of the Currency, under title
12, United States Code, Section 161.
CHARTER NUMBER 2370 COMPTROLLER OF THE CURRENCY NORTHEASTERN DISTRICT
STATEMENT OF RESOURCES AND LIABILITIES
THOUSANDS
ASSETS OF DOLLARS
Cash and balances due from depository institutions:
Noninterest-bearing balances and currency and coin................................. $ 4,279,000
Interest-bearing balances.......................................................... 6,752,000
Held to maturity securities........................................................... 1,779,000
Available-for-sale securities......................................................... 4,607,000
Federal funds sold and securities purchased under agreements to resell in domestic
offices of the bank and of its Edge and Agreement subsidiaries, and in IBFs:
Federal funds sold................................................................. 1,307,000
Securities purchased under agreements to resell.................................... 207,000
Loans and lease financing receivable:
Loans and leases, net of unearned income........................ $ 55,234,000
LESS: Allowance for loan and lease losses....................... 1,095,000
LESS: Allocated transfer risk reserve.......................... 0
------------
Loans and leases, net of unearned income, allowance, and reserve................... 54,139,000
Trading assets........................................................................ 13,459,000
Premises and fixed assets (including capitalized leases).............................. 1,824,000
Other real estate owned............................................................... 413,000
Investments in unconsolidated subsidiaries and associated companies................... 33,000
Customers' liability to this bank on acceptances outstanding.......................... 1,141,000
Intangible assets..................................................................... 934,000
Other assets.......................................................................... 6,947,000
------------
TOTAL ASSETS.......................................................................... $ 97,821,000
============
LIABILITIES
Deposits:
In domestic offices................................................................ $ 30,648,000
Noninterest-bearing........................................... $ 11,207,000
Interest-bearing.............................................. 19,441,000
------------
In foreign offices, Edge and Agreement subsidiaries, and IBFs...................... 35,397,000
Noninterest-bearing........................................... $ 3,024,000
Interest-bearing.............................................. 32,373,000
------------
Federal funds purchased and securities sold under agreements to repurchase in
domestic offices of the bank and of its Edge and Agreement subsidiaries, and in
IBFs:
Federal funds purchased............................................................ 1,781,000
Securities sold under agreements to repurchase..................................... 217,000
Demand notes issued to the U.S. Treasury.............................................. 25,000
Trading liabilities................................................................... 10,479,000
Other borrowed money:
With original maturity of one year or less......................................... 2,050,000
With original maturity of more than one year....................................... 433,000
Mortgage indebtedness and obligations under capitalized leases........................ 40,000
Bank's liability on acceptances executed and outstanding.............................. 1,148,000
Subordinated notes and debentures..................................................... 1,960,000
Other liabilities..................................................................... 6,239,000
------------
TOTAL LIABILITIES..................................................................... 90,417,000
------------
Limited-life preferred stock and related surplus...................................... 0
EQUITY CAPITAL
Perpetual preferred stock and related surplus......................................... 0
Common stock.......................................................................... 921,000
Surplus............................................................................... 4,869,000
Undivided profits and capital reserves................................................ 1,650,000
Net unrealized holding gains (losses) on available-for-sale securities................ (47,000)
Cumulative foreign currency translation adjustments................................... 11,000
------------
TOTAL EQUITY CAPITAL.................................................................. 7,404,000
------------
TOTAL LIABILITIES, LIMITED-LIFE PREFERRED STOCK,
AND EQUITY CAPITAL................................................................ $ 97,821,000
============
I, Lester J. Stephens, Jr., Senior Vice President and Controller of the above
named bank do hereby declare that this Report of Condition is true and correct
to the best of my knowledge and belief.
(Signed) Lester J. Stephens, Jr.
We the undersigned directors, attest to the correctness of this statement of
resources and liabilities. We 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 and is true and correct.
(Signed) Thomas G. Labrecque
(Signed) Arthur F. Ryan Directors
(Signed) Richard J. Boyle