305B2 1 tm2211281d2_305b2.htm 305B2

 

UNITED STATES 

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) _X___

 

 

CITIBANK, N.A. 

(Exact name of trustee as specified in its charter)

 

A National Banking Association 13-5266470

(Jurisdiction of Incorporation or organization

if not a U.S. national bank)

 (I.R.S. Employer Identification No.)
   
399 Park Ave., New York, NY 10043
(Address of principal executive office) (Zip Code)

 

 

Jacqueline Suarez

Citibank, N.A.

388 Greenwich St.

New York, NY 10013

(713) 693-6677

(Name, address and telephone number of agent for service)

 

  
 

 

Harley-Davidson Motorcycle Trust 2022-A

(Exact name of obligor as specified in its charter)

  

 

Delaware 88-6120208
   
(Jurisdiction of Incorporation or organization) (I.R.S. Employer Identification No.)
   

c/o Wilimington Trust, National Association

1100 North Market Street

Wilmington, DE

 19890
(Address of principal executive office) (Zip Code)

 

Copies To:
 

William S. Jue, Associate General Counsel

Harley-Davidson Credit Corp.

Tel: (312) 368-9501

 

 

 

 

Asset - Backed Notes 

(Title of the indenture securities)

 

 

 

 

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.

 

Name Address
Comptroller of the Currency Washington, D.C.
   
Federal Reserve Bank of New York New York, NY
33 Liberty Street  
New York, NY  
   
Federal Deposit Insurance Corporation 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.

 

Items 3.  -15. Not Applicable

 

Item 16.  List of Exhibits.

 

List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibits identified in parentheses below, on file with the Commission, are incorporated herein by reference as exhibits hereto.

 

Exhibit 1 - Copy of Articles of Association of the Trustee, as now in effect (Exhibit 1 to T-1 to Registration Statement No. 2-79983).

 

Exhibit 2 - Copy of certificate of authority of the Trustee to commence business (Exhibit 2 to T-1 to Registration Statement No. 2-29577).

 

Exhibit 3 - Copy of authorization of the Trustee to exercise corporate trust powers (Exhibit 3 to T-1 to Registration Statement No. 2-55519).

 

Exhibit 4 - Copy of existing By-Laws of the Trustee (Exhibit 4 to T-1 to Registration Statement No. 33-34988).

 

Exhibit 5 - Not applicable.

 

 

 

 

Exhibit 6 - The consent of the Trustee required by Section 321(b) of the Trust Indenture Act of 1939 (Exhibit 6 to T-1 to Registration Statement No. 33-19227).

 

Exhibit 7 - Copy of the latest Report of Condition of Citibank, N.A. (as of December 31, 2020 - attached).

 

Exhibit 8 - Not applicable.

 

Exhibit 9 - Not applicable.

 

 

 

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Trust Indenture Act of 1939, the Trustee, Citibank, N.A., a national banking association 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 State of New York, on the 4th day of April, 2022.

 

 CITIBANK, N.A.
   
By/s/ Jacqueline Suarez
  Jacqueline Suarez
  Senior Trust Officer

 

 

 

 

EXHIBIT 7 

REPORT OF CONDITION OF CITIBANK, N.A.

 

CONSOLIDATED BALANCE SHEET  Citigroup Inc. and Subsidiaries 
   December 31, 
In millions of dollars   2020    2019 
Assets          
Cash and due from banks (including segregated cash and other deposits)  $26,349   $23,967 
Deposits with banks, net of allowance   283,266    169,952 
Securities borrowed and purchased under agreements to resell (including $185,204 and $153,193 as of December 31, 2020 and 2019, respectively, at fair value), net of allowance   294,712    251,322 
Brokerage receivables, net of allowance   44,806    39,857 
Trading account assets (including $168,967 and $120,236 pledged to creditors at December 31, 2020 and 2019, respectively)   375,079    

276,140

 
Investments:
Available-for-sale debt securities (including $5,921 and $8,721 pledged to creditors as of December 31, 2020 and 2019, respectively), net of allowance   335,084    280,265 
Held-to-maturity debt securities (including $547 and $1,923 pledged to creditors as of December 31, 2020 and 2019, respectively), net of allowance   104,943    80,775 
Equity securities (including $1,066 and $1,162 as of December 31, 2020 and 2019, respectively, at fair value)   7,332    7,523 
Total investments  $447,359   $368,563 
Loans:          
Consumer (including $14 and $18 as of December 31, 2020 and 2019, respectively, at fair value)   288,839    309,548 
Corporate (including $6,840 and $4,067 as of December 31, 2020 and 2019, respectively, at fair value)   387,044    389,935 
Loans, net of unearned income  $675,883   $699,483 
Allowance for credit losses on loans (ACLL)   (24,956)   (12,783)
Total loans, net  $650,927   $686,700 
Goodwill   22,162    22,126 
Intangible assets (including MSRs of $336 and $495 as of December 31, 2020 and 2019, respectively, at fair value)   4,747    4,822 
Other assets (including $14,613 and $12,830 as of December 31, 2020 and 2019, respectively, at fair value), net of allowance   110,683    107,709 
Total assets  $2,260,090   $1,951,158 

 

The following table presents certain assets of consolidated variable interest entities (VIEs), which are included on the Consolidated Balance Sheet above. The assets in the table below include those assets that can only be used to settle obligations of consolidated VIEs, presented on the following page, and are in excess of those obligations. In addition, the assets in the table below include third-party assets of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation.

 

   December 31, 
in millions of dollars  2020   2019 
Assets of consolidated VIEs to be used to settle obligations of consolidated VIEs          
Cash and due from banks  $281   $108 
Trading account assets   8,104    6,719 
Investments   837    1,295 
Loans, net of unearned income          
Consumer   37,561    46,977 
Corporate   17,027    16,175 
Loans, net of unearned income  $54,588   $63,152 
Allowance for credit losses on loans (ACLL)   (3,794)   (1,841)
Total loans, net  $50,794   $61,311 
Other assets   43    73 
Total assets of consolidated VIEs to be used to settle obligations of consolidated VIEs  $60,059   $69,506 

 

Statement continues on the next page.

 

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CONSOLIDATED BALANCE SHEET

(Continued)

  Citigroup Inc. and Subsidiaries 
   December 31, 
In millions of dollars, except shares and per share amounts  2020   2019 
Liabilities
Non-interest-bearing deposits in U.S. offices  $126,942   $98,811 
Interest-bearing deposits in U.S. offices (including $879 and $1,624 as of December 31, 2020 and 2019, respectively, at fair value)   503,213    401,418 
Non-interest-bearing deposits in offices outside the U.S.   100,543    85,692 
Interest-bearing deposits in offices outside the U.S. (including $1,079 and $695 as of December 31, 2020 and 2019, respectively, at fair value)   549,973    484,669 
Total deposits  $1,280,671   $1,070,590 
Securities loaned and sold under agreements to repurchase (including $60,206 and $40,651 as of December 31, 2020 and 2019, respectively, at fair value)   199,525    166,339 
Brokerage payables   50,484    48,601 
Trading account liabilities   168,027    119,894 
Short-term borrowings (including $4,683 and $4,946 as of December 31, 2020 and 2019, respectively, at fair value)   29,514    45,049 
Long-term debt (including $67,063 and $55,783 as of December  31, 2020 and 2019, respectively, at fair value)   271,686    248,760 
Other liabilities (including $6,835 and $6,343 as of December 31, 2020 and 2019, respectively, at fair value), including allowance   59,983    57,979 
Total liabilities  $2,059,890   $1,757,212 
Stockholders' equity          
Preferred stock ($1.00 par value; authorized shares: 30 million), issued shares: 779,200 as of December 31, 2020 and 719,200 as of December 31, 2019, at aggregate liquidation value  $19,480   $17,980 
Common stock ($0.01 par value; authorized shares: 6 billion), issued shares: 3,099,763,661 as of December 31, 2020 and 3,099,602,856 as of December 31, 2019   31    31 
Additional paid-in capital   107,846    107,840 
Retained earnings   168,272    165,369 
Treasury stock, at cost: 1,017,674,452 shares as of December 31, 2020 and 985,479,501 shares as of December 31, 2019   (64,129)   (61,660)
Accumulated other comprehensive income (loss) (AOCI)   (32,058)   (36,318)
Total Citigroup stockholders' equity  $199,442   $193,242 
Noncontrolling interests   758    704 
Total equity  $200,200   $193,946 
Total liabilities and equity  $2,260,090   $1,951,158 

 

The following table presents certain liabilities of consolidated VIEs, which are included on the Consolidated Balance Sheet above. The liabilities in the table below include third-party liabilities of consolidated VIEs only and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts where creditors or beneficial interest holders have recourse to the general credit of Citigroup.

 

   December 31, 
In millions of dollars  2020   2019 
Liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup          
Short-term borrowings  $9,278   $ 10,031 
Long-term debt   20,405    25,582 
Other liabilities   463    917 
Total liabilities of consolidated VIEs for which creditors or beneficial interest holders do not have recourse to the general credit of Citigroup  $30,146   $36,530 

 

The Notes to the Consolidated Financial Statements are an integral part of these Consolidated Financial Statements.

 

141