EX-99.3 5 dex993.htm ONESERIES MONTHLY NOTEHOLDERS' STATEMENT OneSeries Monthly Noteholders' Statement

Exhibit 99.3

 

BANK ONE ISSUANCE TRUST

ONEseries Monthly Noteholders’ Statement

 

Monthly Period: May 2003

 

The undersigned, a duly authorized representative of Bank One, Delaware, National Association (formerly First USA Bank, National Association) (the “Bank”), as Servicer pursuant to the Transfer and Servicing Agreement, dated as of May 1, 2002 (the “Transfer and Servicing Agreement”), among the Bank, as Transferor, Servicer and Administrator, Bank One Issuance Trust, as Issuer, and Wells Fargo Bank Minnesota, National Association, as Indenture Trustee and Collateral Agent, does hereby certify as follows:

 

A.    Information Regarding the Current Distribution to Noteholders

 

1.   The total amount of the distribution to Noteholders on the Payment Date per $1,000 Initial Outstanding Dollar Principal Amount

 

Tranche    Amount

Class A (2002-1)

    1.26222

Class A (2002-2)

    3.46667

Class A (2002-3)

    2.99167

Class A (2002-4)

    2.45000

Class A (2002-5)

    1.27111

Class A (2002-6)

    1.33333

Class A (2003-1)

    1.27111

Class A (2003-2)

    1.20889

Class A (2003-3)

    1.26222

Class A (2003-4)

    1.08898

Class B (2002-1)

    1.50222

Class B (2002-2)

    1.46667

Class B (2002-3)

    1.48444

Class B (2003-1)

    1.49333

Class C (2002-1)

    2.01778

Class C (2002-2)

    2.04444

Class C (2002-3)

    3.13333

Class C (2003-1)

    3.78333

Class C (2003-2)

    2.79028

 

2.   The amount of the distribution set forth in item 1 in respect of interest on the Notes, per $1,000 Initial Outstanding Dollar

Principal Amount

 

Tranche    Amount

Class A (2002-1)

    1.26222

Class A (2002-2)

    3.46667

Class A (2002-3)

    2.99167

Class A (2002-4)

    2.45000

Class A (2002-5)

    1.27111

Class A (2002-6)

    1.33333

Class A (2003-1)

    1.27111

Class A (2003-2)

    1.20889

Class A (2003-3)

    1.26222

Class A (2003-4)

    1.08898

Class B (2002-1)

    1.50222

Class B (2002-2)

    1.46667

Class B (2002-3)

    1.48444

Class B (2003-1)

    1.49333

Class C (2002-1)

    2.01778

Class C (2002-2)

    2.04444

Class C (2002-3)

    3.13333

Class C (2003-1)

    3.78333

Class C (2003-2)

    2.79028

 

3.   The amount of the distribution set forth in item 1 in respect of principal on the Notes, per $1,000 Initial Outstanding Dollar

Principal Amount

 

Tranche    Amount

Class A (2002-1)

    0.00000

Class A (2002-2)

    0.00000

Class A (2002-3)

    0.00000

Class A (2002-4)

    0.00000

Class A (2002-5)

    0.00000

Class A (2002-6)

    0.00000

Class A (2003-1)

    0.00000

Class A (2003-2)

    0.00000

Class A (2003-3)

    0.00000

Class A (2003-4)

    0.00000

Class B (2002-1)

    0.00000

Class B (2002-2)

    0.00000

Class B (2002-3)

    0.00000

Class B (2003-1)

    0.00000

Class C (2002-1)

    0.00000

Class C (2002-2)

    0.00000

Class C (2002-3)

    0.00000

Class C (2003-1)

    0.00000

Class C (2003-2)

    0.00000

B.  Information regarding the tranches of Notes of the ONEseries

 

1.  Outstanding Dollar Principal Amount and Nominal Liquidation Amount of Tranches of Notes of the ONEseries for the related Monthly Period

 

Tranche    Initial Outstanding
Dollar Principal
Amount		    Outstanding Dollar
Principal Amount		    Adjusted Outstanding
Dollar Principal
Amount		    Nominal Liquidation
Amount

Class A (2002-1)

    1,000,000,000.00    1,000,000,000.00    1,000,000,000.00    1,000,000,000.00

Class A (2002-2)

    1,250,000,000.00    1,250,000,000.00    1,250,000,000.00    1,250,000,000.00

Class A (2002-3)

    500,000,000.00    500,000,000.00    500,000,000.00    500,000,000.00

Class A (2002-4)

    750,000,000.00    750,000,000.00    750,000,000.00    750,000,000.00

Class A (2002-5)

    850,000,000.00    850,000,000.00    850,000,000.00    850,000,000.00

Class A (2002-6)

    500,000,000.00    500,000,000.00    500,000,000.00    500,000,000.00

Class A (2003-1)

    1,000,000,000.00    1,000,000,000.00    1,000,000,000.00    1,000,000,000.00

Class A (2003-2)

    1,500,000,000.00    1,500,000,000.00    1,500,000,000.00    1,500,000,000.00

Class A (2003-3)

    1,250,000,000.00    1,250,000,000.00    1,250,000,000.00    1,250,000,000.00

Class A (2003-4)

    500,000,000.00    500,000,000.00    500,000,000.00    500,000,000.00
    
  
  
  

Total Class A

    9,100,000,000.00    9,100,000,000.00    9,100,000,000.00    9,100,000,000.00

Class B (2002-1)

    250,000,000.00    250,000,000.00    250,000,000.00    250,000,000.00

Class B (2002-2)

    275,000,000.00    275,000,000.00    275,000,000.00    275,000,000.00

Class B (2002-3)

    500,000,000.00    500,000,000.00    500,000,000.00    500,000,000.00

Class B (2003-1)

    200,000,000.00    200,000,000.00    200,000,000.00    200,000,000.00
    
  
  
  

Total Class B

    1,225,000,000.00    1,225,000,000.00    1,225,000,000.00    1,225,000,000.00

Class C (2002-1)

    250,000,000.00    250,000,000.00    250,000,000.00    250,000,000.00

Class C (2002-2)

    225,000,000.00    225,000,000.00    225,000,000.00    225,000,000.00

Class C (2002-3)

    175,000,000.00    175,000,000.00    175,000,000.00    175,000,000.00

Class C (2003-1)

    200,000,000.00    200,000,000.00    200,000,000.00    200,000,000.00

Class C (2003-2)

    175,000,000.00    175,000,000.00    175,000,000.00    175,000,000.00
    
  
  
  

Total Class C

    1,025,000,000.00    1,025,000,000.00    1,025,000,000.00    1,025,000,000.00

Total

    11,350,000,000.00    11,350,000,000.00    11,350,000,000.00    11,350,000,000.00

 

2.  Nominal Liquidation Amount of Notes of the ONEseries

 

Tranche   

Beginning

Nominal

Liquidation

Amount

    Increases from
accretion of
Principal for
Discount
Notes		    Increases from
amounts withdrawn
from the Principal
Funding
Subaccounts in
respect of
Prefunding Excess
Amounts		    Reimbursements
of prior Nominal
Liquidation
Amount Deficits
from Available
Finance Charge
Collections		    Reductions due to
reallocations of
Available Principal
Collections and
Investor Charge-
Offs		    Reductions due to
amounts deposited
to the Principal
Funding
Subaccounts		   

Ending

Nominal

Liquidation

Amount

Class A (2002-1)

    1,000,000,000.00    0.00    0.00    0.00    0.00    0.00    1,000,000,000.00

Class A (2002-2)

    1,250,000,000.00    0.00    0.00    0.00    0.00    0.00    1,250,000,000.00

Class A (2002-3)

    500,000,000.00    0.00    0.00    0.00    0.00    0.00    500,000,000.00

Class A (2002-4)

    750,000,000.00    0.00    0.00    0.00    0.00    0.00    750,000,000.00

Class A (2002-5)

    850,000,000.00    0.00    0.00    0.00    0.00    0.00    850,000,000.00

Class A (2002-6)

    500,000,000.00    0.00    0.00    0.00    0.00    0.00    500,000,000.00

Class A (2003-1)

    1,000,000,000.00    0.00    0.00    0.00    0.00    0.00    1,000,000,000.00

Class A (2003-2)

    1,500,000,000.00    0.00    0.00    0.00    0.00    0.00    1,500,000,000.00

Class A (2003-3)

    1,250,000,000.00    0.00    0.00    0.00    0.00    0.00    1,250,000,000.00

Class A (2003-4)

    500,000,000.00    0.00    0.00    0.00    0.00    0.00    500,000,000.00
    
  
  
  
  
  
  

Total Class A

    9,100,000,000.00    0.00    0.00    0.00    0.00    0.00    9,100,000,000.00

Class B (2002-1)

    250,000,000.00    0.00    0.00    0.00    0.00    0.00    250,000,000.00

Class B (2002-2)

    275,000,000.00    0.00    0.00    0.00    0.00    0.00    275,000,000.00

Class B (2002-3)

    500,000,000.00    0.00    0.00    0.00    0.00    0.00    500,000,000.00

Class B (2003-1)

    200,000,000.00    0.00    0.00    0.00    0.00    0.00    200,000,000.00
    
  
  
  
  
  
  

Total Class B

    1,225,000,000.00    0.00    0.00    0.00    0.00    0.00    1,225,000,000.00

Class C (2002-1)

    250,000,000.00    0.00    0.00    0.00    0.00    0.00    250,000,000.00

Class C (2002-2)

    225,000,000.00    0.00    0.00    0.00    0.00    0.00    225,000,000.00

Class C (2002-3)

    175,000,000.00    0.00    0.00    0.00    0.00    0.00    175,000,000.00

Class C (2003-1)

    200,000,000.00    0.00    0.00    0.00    0.00    0.00    200,000,000.00

Class C (2003-2)

    175,000,000.00    0.00    0.00    0.00    0.00    0.00    175,000,000.00
    
  
  
  
  
  
  

Total Class C

    1,025,000,000.00    0.00    0.00    0.00    0.00    0.00    1,025,000,000.00

Total

    11,350,000,000.00    0.00    0.00    0.00    0.00    0.00    11,350,000,000.00

 

3.  ONEseries Interest Funding Account Subaccounts

 

Tranche    Beginning
Interest
Funding
Subaccount
Balance		   

Targeted

deposit to the
Interest

Funding
Subaccount

with respect

to the current
period

    Previous
shortfalls of
targeted
deposits to
the Interest
Funding
Subaccount		    Actual deposit
to the Interest
Funding
Subaccount		   

Amount
withdrawn

from the

Interest

Funding
Subaccount

for payment

to

Noteholders

     Other
Withdrawals		    Ending
Interest
Funding
Subaccount
Balance

Class A (2002-1)

    0.00    1,262,222.22    0.00    1,262,222.22    (1,262,222.22 )   0.00    0.00

Class A (2002-2)

    0.00    4,333,333.33    0.00    4,333,333.33    (4,333,333.33 )   0.00    0.00

Class A (2002-3)

    0.00    1,495,833.33    0.00    1,495,833.33    (1,495,833.33 )   0.00    0.00

Class A (2002-4)

    0.00    1,837,500.00    0.00    1,837,500.00    (1,837,500.00 )   0.00    0.00

Class A (2002-5)

    0.00    1,080,444.44    0.00    1,080,444.44    (1,080,444.44 )   0.00    0.00

Class A (2002-6)

    0.00    666,666.67    0.00    666,666.67    (666,666.67 )   0.00    0.00

Class A (2003-1)

    0.00    1,271,111.11    0.00    1,271,111.11    (1,271,111.11 )   0.00    0.00

Class A (2003-2)

    0.00    1,813,333.33    0.00    1,813,333.33    (1,813,333.33 )   0.00    0.00

Class A (2003-3)

    0.00    1,577,777.78    0.00    1,577,777.78    (1,577,777.78 )   0.00    0.00

Class A (2003-4)

    0.00    544,489.58    0.00    544,489.58    (544,489.58 )   0.00    0.00
    
  
  
  
  
 
  

Total Class A

    0.00    15,882,711.81    0.00    15,882,711.81    (15,882,711.81 )   0.00    0.00

Class B (2002-1)

    0.00    375,555.56    0.00    375,555.56    (375,555.56 )   0.00    0.00

Class B (2002-2)

    0.00    403,333.33    0.00    403,333.33    (403,333.33 )   0.00    0.00

Class B (2002-3)

    0.00    742,222.22    0.00    742,222.22    (742,222.22 )   0.00    0.00

Class B (2003-1)

    0.00    298,666.67    0.00    298,666.67    (298,666.67 )   0.00    0.00
    
  
  
  
  
 
  

Total Class B

    0.00    1,819,777.78    0.00    1,819,777.78    (1,819,777.78 )   0.00    0.00

Class C (2002-1)

    0.00    504,444.44    0.00    504,444.44    (504,444.44 )   0.00    0.00

Class C (2002-2)

    0.00    460,000.00    0.00    460,000.00    (460,000.00 )   0.00    0.00

Class C (2002-3)

    0.00    548,333.33    0.00    548,333.33    (548,333.33 )   0.00    0.00

Class C (2003-1)

    0.00    756,666.67    0.00    756,666.67    (756,666.67 )   0.00    0.00
    
                              

Class C (2003-2)

    0.00    488,298.61    0.00    488,298.61    (488,298.61 )   0.00    0.00
         
  
  
  
 
  

Total Class C

    0.00    2,757,743.06    0.00    2,757,743.06    (2,757,743.06 )   0.00    0.00

Total

    0.00    20,460,232.64    0.00    20,460,232.64    (20,460,232.64 )   0.00    0.00

 

4.  ONEseries Principal Funding Account Subaccounts

 

Tranche    Beginning
Principal
Funding
Subaccount
Balance		    Targeted
deposit to the
Principal
Funding
Subaccount
with respect
to the current
period		    Previous
shortfalls of
targeted
deposits to
the Principal
Funding
Subaccount		    Actual
deposit to the
Principal
Funding
Subaccount		    Amount
withdrawn
from the
Principal
Funding
Subaccount
for payment
to
Noteholders		    Other
Withdrawals		    Ending
Principal
Funding
Subaccount
Balance

Class A (2002-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2002-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2002-3)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2002-4)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2002-5)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2002-6)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2003-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2003-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2003-3)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class A (2003-4)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00
    
  
  
  
  
  
  

Total Class A

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class B (2002-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class B (2002-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class B (2002-3)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class B (2003-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00
    
  
  
  
  
  
  

Total Class B

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2002-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2002-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2002-3)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2003-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2003-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00
    
  
  
  
  
  
  

Total Class C

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Total

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

 

5. ONEseries Class C Reserve Subaccounts

 

Tranche    Beginning
Class C
Reserve
Subaccount
Balance		    Class C
Reserve
Subaccount
earnings for
the current
period		    Targeted
deposit to the
Class C
Reserve
Subaccount		    Actual
deposit to the
Class C
Reserve
Subaccount,
including
Excess
Amounts		    Amount
withdrawn in
respect of
payment of
interest or
principal to
Noteholders		    Withdrawal
of Excess
Amounts
pursuant to
subsection
3.25(c) of
the
Indenture
Supplement		    Ending
Class C
Reserve
Subaccount
Balance

Class C (2002-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2002-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2002-3)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2003-1)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

Class C (2003-2)

    0.00    0.00    0.00    0.00    0.00    0.00    0.00
    
  
  
  
  
  
  

Total

    0.00    0.00    0.00    0.00    0.00    0.00    0.00

 

6. Class A Required Subordinated Amount of Class B and Class C Notes and Class A Usage of Class B and Class C Required Subordinated Amounts

 

Tranche    Required
Subordinated
Amount of Class B
Notes as of the close
of business on the
related Note
Transfer Date		    Required
Subordinated
Amount of Class C
Notes as of the close
of business on the
related Note
Transfer Date		    Class A Usage
of Class B
Required
Subordinated
Amount for
the current
period		    Class A Usage
of Class C
Required
Subordinated
Amount for
the current
period		    Cumulative
Class A
Usage of
Class B
Required
Subordinated
Amount		    Cumulative
Class A
Usage of
Class C
Required
Subordinated
Amount

Class A (2002-1)

    84,795,300.00    84,795,300.00    0.00    0.00    0.00    0.00

Class A (2002-2)

    105,994,125.00    105,994,125.00    0.00    0.00    0.00    0.00

Class A (2002-3)

    42,397,650.00    42,397,650.00    0.00    0.00    0.00    0.00

Class A (2002-4)

    63,596,475.00    63,596,475.00    0.00    0.00    0.00    0.00

Class A (2002-5)

    72,076,005.00    72,076,005.00    0.00    0.00    0.00    0.00

Class A (2002-6)

    42,397,650.00    42,397,650.00    0.00    0.00    0.00    0.00

Class A (2003-1)

    84,795,300.00    84,795,300.00    0.00    0.00    0.00    0.00

Class A (2003-2)

    127,192,950.00    127,192,950.00    0.00    0.00    0.00    0.00

Class A (2003-3)

    105,994,125.00    105,994,125.00    0.00    0.00    0.00    0.00

Class A (2003-4)

    42,397,650.00    42,397,650.00    0.00    0.00    0.00    0.00
    
  
  
  
  
  

Total

    771,637,230.00    771,637,230.00    0.00    0.00    0.00    0.00

 

7. Class B Required Subordinated Amount of Class C Notes and Class B Usage of Class C Required Subordinated Amounts

 

Tranche   

Required
Subordinated Amount of
Class C Notes as of the
close of business on the
related Note

Transfer Date

    Class B Usage of
Class C Required
Subordinated Amount
for the current period		    Cumulative Class B
Usage of Class C
Required
Subordinated
Amount

Class B (2002-1)

    164,709,241.42    0.00    0.00

Class B (2002-2)

    181,180,165.57    0.00    0.00

Class B (2002-3)

    329,418,482.85    0.00    0.00

Class B (2003-1)

    131,767,393.14    0.00    0.00
    
  
  

Total

    807,075,282.98    0.00    0.00

 

C. Information regarding the performance of the ONEseries

 

     May Monthly Period
     April Monthly Period
     March Monthly Period
  

Portfolio Yield

    9.96 %   10.43 %   10.97 %

Less: Base Rate

    3.59 %   3.61 %   3.70 %
    
 
 

Excess Spread

    6.37 %   6.82 %   7.27 %

Three Month

Average Excess

Spread

    6.82 %            

Principal Payment

Rate

    18.38 %            

 

BANK ONE, DELAWARE, National Association as Servicer

By:

   /s/    MICHAEL J. GRUBB
 
   

Michael J. Grubb

First Vice President