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 (Date of earliest event reported):
October 24, 2002
FIRST NATIONAL FUNDING LLC
FIRST BANKCARD MASTER CREDIT CARD TRUST
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(Exact name of registrant as specified in its charter)
Nebraska 333-86574-00, 333-86574-01 02-0598125
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(State of Incorporation) (Commission File Number) (IRS Employer
Identification Number)
1620 Dodge Street
Stop Code 3198
Omaha, Nebraska 68197-3198
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(Address of principal executive offices) (Zip Code)
(402) 341-0500
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(Registrant's telephone number, including area code)
Not applicable
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(Former name or former address, if changed since last report)
Item 5. Other Events.
On October 16, 2002, First National Funding LLC and First Bankcard
Master Credit Card Trust (the "Co-Registrants") commenced an offering of
$400,000,000 in aggregate principal amount of the Series 2002-1 Asset Backed
Notes, Class A, Class B and Class C issued by First National Master Note Trust
(the "Issuer") pursuant to the Mater Indenture dated October 24, 2002 and the
Series 2002-1 Indenture Supplement dated October 24, 2002. The public offering
of the Class A, Class B and Class C notes is described in the Prospectus
Supplement, dated October 16, 2002 to the Prospectus dated October 16, 2002. The
public offering was made under the registration statement on Form S-3 filed with
the Securities and Exchange Commission, by First National Funding LLC and First
Bankcard Master Credit Card Trust, which became effective on September 17, 2002
and was assigned commission file numbers 333-86574-00 and 333-86574-01.
The public offering terminated on October 24, 2002 upon the sale of
$332,000,000 in aggregate principal amount of Class A notes, $31,000,000 in
aggregate principal amount of Class B notes and $37,000,000 in aggregate
principal amount of Class C notes. The underwriters of the Class A notes were
Banc One Capital Markets, Inc., Banc of America Securities LLC and ABN Amro
Incorporated and the underwriters of the Class B and Class C notes were Banc One
Capital Markets, Inc. and Banc of America Securities LLC. A total of
$332,000,000 of Class A notes were registered and sold, with a total price to
the public of $332,000,000, a total of $31,000,000 of Class B notes were
registered and sold with a total price to the public of $31,000,000 and a total
of $37,000,000 of Class C notes were registered and sold with a total price to
the public of $37,000,000.
During the period from the effective date of the registration
statement, through the current reporting period, the amount of expenses incurred
in connection with the issuance and distribution of the publicly offered and
sold notes with respect to underwriting commissions and discounts was $943,250,
with other expenses, including legal fees and other costs and expenses, totaling
an estimated $1,779,275.61. With respect to the payment of these expenses and
costs, all direct or indirect payments were made to persons other than persons
who are (a) directors or officers of the Co-Registrants or the Issuer, or (b)
owners of 10 percent or more of any class of securities of the Co-Registrants or
the Issuer.
The net proceeds to the Issuer, after deducting the underwriting
commissions and discounts, and expenses above, were used to (a) fund a cash
collateral spread account in the amount of $2,000,000, (b) retire a previously
issued and existing series of investor certificates, and (c) for general
corporate purposes. None of the proceeds were used for payments to (a) any
directors or officers of the Co-Registrants or the Issuer, or (b) owners of 10
percent or more of any class of securities of the Co-Registrants or the Issuer.
Item 7. Financial Statements and Exhibits.
(C) Exhibits
EXHIBIT NO. DOCUMENT DESCRIPTION
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Exhibit 20 Monthly Servicing Report
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
Dated: December 24, 2002 FIRST NATIONAL FUNDING LLC
By: First National Funding Corporation,
Managing Member
By /s/ Jean L. Koenck
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Jean L. Koenck
Senior Vice President
Dated: December 24, 2002 FIRST BANKCARD MASTER CREDIT CARD TRUST,
By: First National Bank of Omaha,
As Servicer of First Bankcard Master
Credit Card Trust
By: /s/ Jean L. Koenck
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Jean L. Koenck
Senior Vice President
EXHIBIT INDEX
EXHIBIT NO. DESCRIPTION
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20 Monthly Servicing Report