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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: February 20, 1997
(Date of earliest event reported)
FIRSTPLUS INVESTMENT CORPORATION
(Exact name of Registrant as specified in its charter)
Nevada 333-11855 75-2596063
(State of Incorporation) (Commission File No.) (I.R.S. Employer
Identification No.)
3773 Howard Hughes Parkway
Suite 300N
Las Vegas, Nevada 89109
(Address of Principal executive offices) (Zip Code)
Registrant's Telephone Number, Including Area Code: (702) 866-2202
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Item 5. Other Events.
Reference is hereby made to the Registrant's Registration Statement on
Form S-3 (File No. 333-11855) filed with the Securities and Exchange Commission
(the "Commission") on September 12, 1996 (the "Registration Statement"),
pursuant to which the Registrant registered $1,240,625,000 aggregate principal
amount of its asset backed notes and asset backed certificates, issuable in
various series, for sale in accordance with the provisions of the Securities
Act of 1933, as amended (the "Act"). Reference is also hereby made to the
Prospectus and the related Prospectus Supplement (collectively, the
"Prospectus"), which will be filed with the Commission pursuant to Rule
424(b)(5), with respect to the Registrant's Asset Backed Notes and Asset Backed
Certificates, Series 1996-4 (the "Offered Securities").
The Registrant is filing this Current Report on Form 8-K to provide
prospective investors with certain materials which constitute "Collateral Term
Sheets" as described in the no-action letter dated February 27, 1995 issued by
the Division of Corporation Finance of the Commission to the Public Securities
Association (the "PSA Letter"), the filing of which materials is a condition of
the relief granted in such letters (such materials being the "Collateral Term
Sheets"). The Collateral Term Sheets were prepared solely by Banc One Capital
Corporation in connection with the offering of the Offered Securities, and the
Registrant did not prepare or participate in the preparation of the Collateral
Term Sheets. The Collateral Term Sheets are set forth in Exhibit 28.1 hereto.
The assumptions used in preparing the Collateral Term Sheets were
based upon a preliminary compilation of the underlying collateral and the
estimated principal amount and other features of the Offered Securities. The
actual features of the Offered Securities and a detailed description of the
final constituency of the underlying collateral will be set forth in the
Prospectus.
Due to the preliminary nature of the information regarding the
collateral and the structure of the Offered Securities used in preparing the
Collateral Term Sheets, no assurance can be given as to either the Collateral
Term Sheets' or the underlying assumptions' accuracy, appropriateness or
completeness in any particular context; nor can assurance be given as to
whether the Collateral Term Sheets and/or the assumptions upon which they are
based reflect present market conditions or future market performance. These
Collateral Term Sheets should not be construed as either projections or
predictions or as legal, tax, financial or accounting advice.
Any yields or weighted average lives shown in the Collateral Term
Sheets are based on prepayment assumptions, and changes in such prepayment
assumptions may dramatically affect such yields or weighted average lives. In
addition, it is possible that prepayments on the collateral will occur at rates
slower or faster than the rates shown in the Collateral Term Sheets.
Furthermore, unless otherwise provided, the Collateral Term Sheets assume no
losses on the collateral and no interest shortfall. The specific
characteristics of the Offered Securities may differ from those shown in the
Collateral Term Sheets due to differences between the actual collateral and the
hypothetical collateral used in preparing the Collateral Term Sheets. As noted
above, the principal amount and designation of any security described in the
Collateral Term Sheets are subject to change prior to issuance.
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Please be advised that mortgage-backed securities may not be
appropriate for all investors. Potential investors must be willing to assume,
among other things, market price volatility, mortgage prepayments, yield curve
and interest rate risks. Investors should make every effort to consider the
risks of these securities.
Any statement or information contained in the Collateral Term Sheets
shall be deemed to be modified or superseded for purposes of the Prospectus and
the Registration Statement by statements or information contained in the
Prospectus.
Item 7. Financial Statements and Exhibits.
(c) Exhibits
Exhibit No. Description
28.1 Collateral Term Sheets provided by Banc One Capital
Corporation
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Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this Report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRSTPLUS INVESTMENT CORPORATION
February 20, 1997 By: /s/ Christopher J. Gramlich
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Christopher J. Gramlich
Senior Vice President
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Exhibit Index
Exhibit Description
28.1 Collateral Term Sheets