EX-28.A 3 dex28a.htm EXCESS SPREAD ANALYSIS Excess Spread Analysis

 

Exhibit 28.A

 

First Chicago Credit Card Master Trust II

Excess Spread Analysis—April 2003

 

Series

   

* 1999-X

     

* 1999-Y

  

Deal Size

   

$750MM

     

$550MM

  

Expected Maturity

   

06/16/2003

     

08/15/2003

  

Yield

   

6.61

%

   

12.81

%

Less: Coupon

   

1.49

%

   

1.55

%

Servicing Fee

   

0.54

%

   

1.05

%

Net Credit Losses

   

2.00

%

   

3.87

%

Excess Spread:

              

April-03

   

2.58

%

   

6.34

%

March-03

   

4.59

%

   

8.22

%

February-03

   

6.16

%

   

9.49

%

Three Month Average Excess Spread

   

4.44

%

   

8.02

%

Delinquency:

              

30 to 59 Days

   

1.18

%

   

1.18

%

60 to 89 Days

   

0.84

%

   

0.84

%

90+ Days

   

1.75

%

   

1.75

%

Total

   

3.77

%

   

3.77

%

Payment Rate

   

28.00

%

   

28.00

%

 

*   Results are skewed downward due to the calculation methodology during the accumulation period.