Exhibit 20.1
MONTHLY SERVICER'S CERTIFICATE
First USA Bank, N.A.
First NBC Credit Card Master Trust
Series 1997-1
For the December 10, 1999 Determination Date
For the 28th Monthly Period
The undersigned, a duly authorized representative of First USA Bank, N.A., (the
"Bank"), pursuant to the Pooling and Servicing Agreement (the "Pooling and
Servicing Agreement"), dated as of August 1, 1997 by and between the Bank, as
successor Transferor and Servicer to Bank One Louisiana, N.A. (as successor to
the First National Bank of Commerce ("First NBC")) and The First National Bank
of Chicago, as Trustee, does hereby certify as follows:
1 Capitalized terms used in this Certificate have their respective
meanings as set forth in the Pooling and Servicing Agreement; provided,
that the "preceding Monthly Period" shall mean the Monthly Period
immediately preceding the calendar month in which this Certificate is
delivered. This Certificate is delivered pursuant to subsection 3.4(b)
of the Pooling and Servicing Agreement. References herein to certain
sections and subsections are references to the respective sections and
subsections of the Pooling and Servicing Agreement, as amended by the
applicable Series Supplement.
2 First USA Bank, N.A. is Servicer under the Pooling and Servicing
Agreement.
3 The undersigned is a Servicing Officer.
4 The date of this Certificate is December 10, 1999, which is a
Determination Date under the Pooling and Servicing Agreement.
5 The aggregate amount of Collections processed during the preceding
Monthly Period [equal to 5(a) plus 5(b)] was $111,783,611
(a) The aggregate amount of Collections of Finance Charge
Receivables collected during the preceding Monthly Period the
Collections of Finance Charge Receivables $12,469,052
(b) The aggregate amount of Collections of Principal Receivables
collected during the preceding Monthly Period the Collections
of Principal Receivables was $99,314,560
6 The aggregate amount of Receivables as of the end of the last day of the
preceding Monthly Period was $870,018,682
7 Included is an authentic copy of the statements required to be delivered
by the Servicer on the date of this Certificate to the Paying Agent
pursuant to Article V.
8 To the knowledge of the undersigned, there are no liens on any
Receivables in the Trust except as described below:
None.
9 The amount, if any, by which the sum of the balance of the Excess
Funding Account and the Aggregate Principal Receivables exceeds the
Minimum Aggregate Principal Receivables required to be maintained
pursuant to the Pooling and Servicing Agreement, is equal to
$155,878,233
10 The amount, if any, of the withdrawal of the Specified Deposit from the
Finance Charge Account required to be made by the Trustee pursuant to
subsection 4.3(a) of the Pooling and Servicing Agreement on the related
Transfer Date is $0.00
Monthly Servicer's Certificate
Page 2 (all amounts in dollars except percentages)
11 Monthly Period Trust Activity
(a) Trust Activity Total Trust
================================================ ============
Beginning Aggregate Principal Receivables 849,781,869
Beginning Excess Funding Account Balance 0
Beginning Total Principal Balance 849,781,869
Collections of Finance Charge Receivables 12,469,052
Discount Percentage 0
Discount Option Receivables Collections 0
Net Recoveries 0
Total Collections of Finance Charge Receivables 12,469,052
Total Collections of Principal Receivables 99,314,560
Net Default Amount 2,717,828
Minimum Aggregate Principal Receivables Balance 700,000,000
Ending Aggregate Principal Receivables 855,878,233
Ending Excess Funding Account Balance 0
Ending Total Principal Balance 855,878,233
(b) Series Allocations Series 1997-1 Series 1998-1 All Series
================================================ ==================================================
Group Number 1 2
Investor Interest 300,000,000 400,000,000 700,000,000
Adjusted Investor Interest 300,000,000 400,000,000 700,000,000
Principal Funding Account Balance 0 0 0
Minimum Transferor Interest 59,911,476
(c) Group I Allocations Series 1997-1 Total Group I
================================================ ==============================
Investor Finance Charge Collections 4,401,971 4,401,971
Investor Monthly Interest 1,538,563 1,538,563
Investor Monthly Fees (Servicing Fee) 375,000 375,000
Investor Default Amounts 959,480 959,480
Investor Additional Amounts 0 0
Total 2,873,042 2,873,042
Reallocated Investor Finance Charge Collections 4,401,971 4,401,971
Available Excess 1,528,929 1,528,929
12 Series 1997-1 Certificates
Series 1997-1 All Other Transferor's
(a) Investor/Transferor Allocations Trust Interest Series Interest
========================================================================================================================
Beginning Investor/Transferor Amounts 849,781,869 300,000,000 400,000,000 149,781,869
Beginning Adjusted Investor Interest 849,781,869 300,000,000 400,000,000
Floating Investor Percentage 100.00000% 35.303177% 47.070903%
Fixed Investor Percentage 0.00000% 0.00000% 0.00000%
Collections of Finance Chg. Receivables 12,469,052 4,401,971 5,869,295
Collections of Principal Receivables 99,314,560 35,061,195 46,748,260
Net Default Amount 2,717,828 959,480 1,279,306
Ending Investor/Transferor Amounts 855,878,233 300,000,000 400,000,000 155,878,233
Monthly Servicer's Certificate
Page 3 (all amounts in dollars except percentages)
Collateral
(b) Monthly Period Funding Requirements Class A Class B Interest Total
========================================================================================================================
Principal Funding Account 0 0 0 0
Principal Funding Investment Proceeds 0 0 0 0
Withdrawal from Reserve Account 0 0 0 0
Available Reserve Account Amount 0 0 0 0
Required Reserve Account Amount 0 0 0 0
Coupon 6.15000% 6.35000% 6.00000% 6.15425%
Floating Investor Percentage 30.53725% 2.47122% 2.29471% 35.30318%
Fixed Investor Percentage 0 0 0 0
Investor Monthly Interest 1,329,938 111,125 97,500 1,538,563
Overdue Monthly Interest 0 0 0 0
Additional Interest 0 0 0 0
Total Interest Due 1,329,938 111,125 97,500 1,538,563
Investor Default Amounts 829,950 67,164 62,366 959,480
Investor Monthly Fees 324,375 26,250 24,375 375,000
Investor Additional Amounts 0 0 0 0
Total Due 2,484,262 204,539 184,241 2,873,042
Collateral
(c) Certificates - Balances and Distributions Class A Class B Interest Total
========================================================================================================================
Beginning Investor Interest 259,500,000 21,000,000 19,500,000 300,000,000
Monthly Principal-Prin. Funding Account 0 0 0 0
Principal Payments 0 0 0 0
Interest Payments 1,329,938 111,125 97,500 1,538,563
Total Payments 1,329,938 111,125 97,500 1,538,563
Ending Investor Interest 259,500,000 21,000,000 19,500,000 300,000,000
(d) Information regarding Payments in respect of the Class A Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.125000
2. Amount of Payment in respect of Class A Monthly Interest 5.125000
3. Amount of Payment in respect of Class A Overdue Monthly Interest 0
4. Amount of Payment in respect of Class A Additional Interest 0
5. Amount of Payment in respect of Class A Principal 0
(e) Class A Investor Charge-Offs/Reimbursement of Class A Investor Charge-Offs
1. Total amount of Class A Investor Charge-Offs 0
2. Amount of Class A Investor Charge-Offs per $1,000 original certificate principal amount 0
3. Total amount reimbursed in respect of Class A Investor Charge-Offs 0
4. Amount reimbursed in respect of Class A Investor Charge-Offs per $1,000 original
principal amount 0
5. The amount, if any, by which the outstanding Principal Balance of the Class A
Certificates exceeds the Class A Adjusted Investor Interest after giving effect to all
transactions on such Distribution Date 0
(f) Information regarding Payments in respect of the Class B Certificates
(per $1,000 original certificate principal amount)
1. Total Payment 5.291667
2. Amount of Payment in respect of Class B Monthly Interest 5.291667
3. Amount of Payment in respect of Class B Overdue Monthly Interest 0
4. Amount of Payment in respect of Class B Additional Interest 0
5. Amount of Payment in respect of Class B Principal 0
Monthly Servicer's Certificate
Page 4 (all amounts in dollars except percentages)
(g) Amount of reductions in Class B Investor Interest pursuant to clauses
(c), (d) and (e) of the definition of Class B Investor Interest
1. Amount of reductions in Class B Investor Interest 0
2. Amount of reductions in Class B Investor Interest per $1,000 original certificate
principal amount 0
3. Total amount reimbursed in respect of reductions of Class B Investor Interest 0
4. Amount reimbursed in respect of reductions of Class B Investor Interest per
$1,000 original certificate principal amount 0
5. The amount, if any, by which the outstanding Principal Balance of the Class B
Certificates exceeds the Class B Investor Interest after giving effect to all
transactions on such Distribution Date 0
(h) Information regarding Distribution in respect of the Collateral Interest
1. Total distribution 5.000000
2. Amount of distribution in respect of Collateral Monthly Interest 5.000000
3. Amount of distribution in respect of Collateral Overdue Interest 0
4. Amount of distribution in respect of Collateral Monthly Principal 0
(i) Amount of reductions in Collateral Interest pursuant to clauses (c), (d)
and (e) of the definition of Collateral Interest
1. Amount of reductions in Collateral Interest 0
2. Total amount reimbursed in respect of reductions of Collateral Interest 0
(j) Application of Reallocated Investor Finance Charge Collections
1. Class A Available Funds 3,807,705
a. Class A Monthly Interest 1,329,938
b. Class A Overdue Monthly Interest 0
c. Class A Additional Interest 0
d. Class A Servicing Fee 324,375
e. Class A Investor Default Amount 829,950
f. Excess Spread 1,323,443
2. Class B Available Funds 308,138
a. Class B Monthly Interest 111,125
b. Class B Overdue Monthly Interest 0
c. Class B Additional Interest 0
d. Class B Servicing Fee 26,250
e. Excess Spread 170,763
3. Collateral Holder Available Funds 286,128
a. Excess Spread 286,128
4. Total Excess Spread 1,780,334
Monthly Servicer's Certificate
Page 5 (all amounts in dollars except percentages)
(k) Application of Excess Spread and Excess Finance Charge Collections Allocated to Series 1997-1
1. Beginning Excess Spread 1,780,334
2. Excess Finance Charge Collections 0
3. Applied to fund Class A Required Amount 0
4. Unreimbursed Class A Investor Charge-Offs 0
5. Applied to fund Class B Required Amount 67,164
6. Reductions of Class B Investor Interest treated as Available Principal Collections 0
7. Applied to Collateral Monthly Interest and unpaid Collateral Monthly Interest 97,500
8. Applied to Collateral Interest Servicing Fee and any overdue Collateral Interest Servicing Fee 24,375
9. Collateral Investor Default Amount treated as Available Principal Collections 62,366
10. Reductions of Collateral Interest treated as Available Principal Collections 0
11. Deposit to Reserve Account (if required) 0
12. Applied to other amounts owed to Collateral Interest Holder 0
13. Balance to constitute Excess Finance Charge Collections for other series 1,528,929
13 Trust Performance
(a) Delinquencies
1. 30-59 days 13,103,960
2. 60-89 days 7,844,801
3. 90 days and over 14,774,577
4. Total 30+ days delinquent 35,723,338
(b) Base Rate
a. Current Monthly Period 8.15425%
b. Prior Monthly Period 8.16767%
c. Second Prior Monthly Period 8.15295%
(c) Three Month Average Base Rate 8.15829%
(d) Portfolio Yield (gross portfolio yield less net defaults)
a. Current Monthly Period 13.76997%
b. Prior Monthly Period 15.55304%
c. Second Prior Monthly Period 13.33379%
(e) Three Month Average Portfolio Yield 14.21893%
(f) Excess Spread Percentage
a. Current Monthly Period 6.11572%
b. Prior Monthly Period 7.88537%
c. Second Prior Monthly Period 5.68084%
(g) Three Month Average Excess Spread Percentage 6.56064%
(h) Monthly Payment Rate (total collections/beginning aggregate principal receivables) 13.15439%
(i) Portfolio Adjusted Yield 5.61572%
IN WITNESS WHEREOF, the undersigned has duly executed and delivered this
certificate this 10th day of December
First USA Bank, N.A., as Servicer
By: /s/ Tracie Klein
-------------------------------------
Name: Tracie Klein
Title: First Vice President