EXHIBIT 25.2
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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J. P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
95-4655078
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
1999 AVENUE OF THE STARS - FLOOR 26
LOS ANGELES, CA 90067
(Address of principal executive offices) (Zip Code)
William H. McDavid
General Counsel
270 Park Avenue
New York, New York 10017
Tel: (212) 270-2611
(Name, address and telephone number of agent for service)
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POPULAR CAPITAL TRUST II
POPULAR CAPITAL TRUST III
POPULAR CAPITAL TRUST IV
(Exact name of obligor as specified in its charter)
DELAWARE TO BE APPLIED FOR
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
209 MUNOZ RIVERA AVENUE
SAN JUAN, PUERTO RICO 00918
(Address of principal executive offices) (Zip Code)
PROPERTY TRUSTEE FOR THE CAPITAL SECURITIES
IN CONNECTION WITH THE JUNIOR SUBORDINATED DEBENTURES
(Title of the indenture securities)
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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 OBLIGOR.
If the Obligor is an affiliate of the trustee, describe each such
affiliation.
None.
NO RESPONSES ARE INCLUDED FOR ITEMS 3-15 OF THIS FORM T-1 BECAUSE THE OBLIGOR IS
NOT IN DEFAULT AS PROVIDED UNDER ITEM 13.
ITEM 16. LIST OF EXHIBITS.
List below all exhibits filed as part of this statement of eligibility.
Exhibit 1. Articles of Association of the Trustee as Now in
Effect (see Exhibit 1 to Form T-1 filed in connection
with Form 8K of the Southern California Water Company
filing, dated December 7, 2001, which is incorporated
by reference).
Exhibit 2. Certificate of Authority of the Trustee to Commence
Business (see Exhibit 2 to Form T-1 filed in
connection with Registration Statement No. 333-41329,
which is incorporated by reference).
Exhibit 3. Authorization of the Trustee to Exercise Corporate
Trust Powers (contained in Exhibit 2).
Exhibit 4. Existing By-Laws of the Trustee (see Exhibit 4 to
Form T-1 filed in connection with Form 8K of the
Southern California Water Company filing, dated
December 7, 2001, which is incorporated by
reference).
Exhibit 5. Not Applicable
Exhibit 6. The consent of the Trustee required by Section
321 (b) of the Act (see Exhibit 6 to Form T-1 filed
in connection with Registration Statement No.
333-41329, which is incorporated by reference).
Exhibit 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.
Exhibit 8. Not Applicable
Exhibit 9. Not Applicable
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of 1939, the
Trustee, J. P. Morgan Trust Company, National Association, has duly caused this
statement of eligibility and qualification to be signed on its behalf by the
undersigned, thereunto duly authorized, all in the City of San Francisco, and
State of California, on the 9th day of November 2004.
J. P. Morgan Trust Company, National Association
By /s/ George Reaves
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George Reaves
Authorized Officer
J. P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
STATEMENT OF CONDITION
SEPTEMBER 30, 2004
($000)
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ASSETS
Cash and Due From Banks $ 28,672
Securities 145,134
Loans and Leases 110,847
Premises and Fixed Assets 11,202
Intangible Assets 384,284
Goodwill 201,011
Other Assets 45,941
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Total Assets $ 927,091
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LIABILITIES
Deposits $ 94,426
Other Liabilities 55,575
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Total Liabilities 150,001
EQUITY CAPITAL
Common Stock 600
Surplus 701,587
Retained Earnings 74,903
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Total Equity Capital 777,090
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Total Liabilities and Equity Capital $ 927,091
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J. P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
STATEMENT OF CONDITION
JUNE 30, 2004
($000)
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ASSETS
Cash and Due From Banks $ 26,366
Securities 115,613
Loans and Leases 110,964
Premises and Fixed Assets 12,083
Intangible Assets 391,238
Goodwill 250,990
Other Assets 47,784
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Total Assets $ 955,038
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LIABILITIES
Deposits $ 94,257
Other Liabilities 92,800
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Total Liabilities 187,057
EQUITY CAPITAL
Common Stock 600
Surplus 701,587
Retained Earnings 65,794
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Total Equity Capital 767,981
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Total Liabilities and Equity Capital $ 955,038
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J. P. MORGAN TRUST COMPANY, NATIONAL ASSOCIATION
STATEMENT OF CONDITION
MARCH 31, 2004
($000)
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ASSETS
Cash and Due From Banks $ 27,267
Securities 134,089
Loans and Leases 106,161
Premises and Fixed Assets 12,698
Intangible Assets 396,967
Goodwill 250,539
Other Assets 52,961
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Total Assets $ 980,682
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LIABILITIES
Deposits $ 116,957
Other Liabilities 103,967
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Total Liabilities 220,924
EQUITY CAPITAL
Common Stock 600
Surplus 701,587
Retained Earnings 57,571
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Total Equity Capital 759,758
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Total Liabilities and Equity Capital $ 980,682
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