-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, GELgMRYESJ123yvxJBRqhb7HL8illL61EU6hy4Njj0euBoWSnxgKleQLRyW4mohh cdR+OXFbqB/cKsKrggU9Jg== 0000893220-96-001898.txt : 19961120 0000893220-96-001898.hdr.sgml : 19961120 ACCESSION NUMBER: 0000893220-96-001898 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19961115 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 19961115 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: DISCOVER CARD TRUST 1991 E CENTRAL INDEX KEY: 0000880648 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 516181537 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19759 FILM NUMBER: 96667826 BUSINESS ADDRESS: STREET 1: 12 READS WAY STREET 2: C/O DISCOVER REC FINANCING GP INC CITY: NEW CASTLE STATE: DE ZIP: 19720 BUSINESS PHONE: 3023237826 MAIL ADDRESS: STREET 1: C/O DISCOVER RECEIVABLES FINANCING GROUP STREET 2: 12 READS WAY CITY: NEW CASTLE STATE: DE ZIP: 19720 8-K 1 8-K DISCOVER CARD TRUST 1991 E 1 CONFORMED COPY SECURITIES AND EXCHANGE COMMISSION 450 Fifth Street, N.W. Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): November 15, 1996 DISCOVER CARD TRUST 1991 E -------------------------- (Exact name of Registrant as specified in its charter) Delaware 0-19759 Not Applicable - -------- ------- -------------- (State of (Commission (IRS Employer organization) File Number) Identification No.)
c/o Discover Receivables Financing Group, Inc. 12 Read's Way New Castle, Delaware 19720 - -------------------------------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (302) 323-7826 Not Applicable --------------------------------------------- (Former address, if changed since last report) Page 1 of 14 Index to Exhibits is on page 4 2 Item 5. Other Events On November 15, 1996 the Registrant made available the Monthly Certificateholders' Statement for the Due Period of October 1996, which is attached as Exhibit 21 hereto. Item 7. Financial Statements and Exhibits (c) Exhibits
Exhibit No. Description - ----------- ----------- 21 Monthly Certificateholders' Statement for Discover Card Trust 1991 E related to the Due Period ending October 31, 1996.
3 SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. DISCOVER CARD TRUST 1991 E (Registrant) By: DISCOVER RECEIVABLES FINANCING GROUP, INC. as originator of the Trust By: Birendra Kumar ------------------------------ Birendra Kumar Vice President and Treasurer Date: November 15, 1996 4 EXHIBIT INDEX
Exhibit No. Description - ----------- ----------- 21 Monthly Certificateholders' Statement for Discover Card Trust 1991 E related to the Due Period ending October 31, 1996
EX-21 2 EXHIBIT 21 DISCOVER CARD TRUST 1991 E 1 EXHIBIT 21 MONTHLY CERTIFICATEHOLDERS' STATEMENT Discover Card Trust 1991 E --------------------------------- CREDIT CARD PASS-THROUGH CERTIFICATES --------------------------------- Under the Pooling and Servicing Agreement dated as of Nov. 1, 1991 (the "Agreement") by and among Greenwood Trust Company (the "Servicer") , Discover Receivables Financing Group Inc. and Wilmington Trust Company, as Trustee ,the Servicer is required to prepare certain information each month regarding current distributions to Investor Certificateholders and the performance of the Trust during the previous month. The information which is required to be prepared with respect to the distribution of November 20, 1996 , and with respect to the performance of the Trust during the Due Period ended in October 31, 1996 ,is set forth below. Certain of the infor- mation is presented on the basis of an original principal amount of $1,000 per Class A Certificate or Class B Certificate. Certain other information is presented based on the aggregate amounts for the Trust as a whole. A. Information Regarding the Current Monthly Distribution (stated on the basis of $1,000 original principal amount). - ------------------------------------- 1. The total amount of the distribution to Class A Certificate- holders on November 20, 1996 , per $1,000 interest ..... ........................................... $ 86.881944450 2. The total amount of the distribution to Class B Certificate- holders on November 20, 1996 , per $1,000 interest ..... ........................................... $ 6.541666750 3. The amount of the distribution set forth in paragraph 1 above in respect of interest on the Class A Certificates , per $1,000 interest ........................... $ 3.548611100 4. The amount of the distribution set forth in paragraph 2 above in respect of interest on the Class B Certificates , per $1,000 interest ........................... $ 6.541666750 2 5. The amount of the distribution set forth in paragraph 1 above in respect of principal on the Class A Certificates , per $1,000 interest ........................... $ 83.333333350 6. The amount of the distribution set forth in paragraph 2 above in respect of principal on the Class B Certificates , per $1,000 interest ........................... $ 0.000000000 B. Information Regarding the Performance of the Trust. - ----------------------------------------------------- 1. Collections of Receivables. - --------------------------------- (a) The aggregate amount of Finance Charge Collections processed during the related Due Period .......... $ 7,834,682.22 (b) The aggregate amount of Principal Collections processed during the related Due Period .......... $ 86,989,113.18 (c) The aggregate amount of Finance Charge Collections processed during the related Due Period which was allocated in respect of the Investor Certificates ... $ 4,059,932.32 (d) The aggregate amount of Principal Collections processed during the related Due Period which was allocated in respect of the Investor Certificates ... $ 73,644,983.21 (e) The aggregate amount of Finance Charge Collections processed during the related Due Period which was allocated in respect of the Class A Certificates .... $ 3,466,063.41 (f) The aggregate amount of Principal Collections processed during the related Due Period which was allocated in respect of the Class A Certificates .... $ 66,946,821.50 (g) The aggregate amount of Finance Charge Collections processed during the related Due Period which was allocated in respect of the Class B Certificates .... $ 593,868.91 (h) The aggregate amount of Principal Collections processed during the related Due Period which was allocated in respect of the Class B Certificates .... $ 6,698,161.71 (i) The aggregate amount of Finance Charge Collections processed during the related Due Period which was allocated in respect of the Seller Certificate ...... $ 3,774,749.90 3 (j) The aggregate amount of Principal Collections processed during the related Due Period which was allocated in respect of the Seller Certificate ...... $ 13,344,129.97 2. Principal Receivables in the Trust. - -------------------------------------------------------------------- (a) The aggregate amount of Principal Receivables in the Trust as of the end of the Due Period ended in October 31, 1996 (which reflects the Principal Receivables represented by the Seller Certificate and the Investor Certificates) ......... ........................................ $ 522,814,091.72 (b) The amount of Principal Receivables in the Trust rep- resented by the Class A Certificates (the "Class A Interest") as of the Due Period Ended in October 31, 1996 ........................................ $ 199,999,999.96 (c) The amount of Principal Receivables in the Trust rep- resented by the Class B Certificates (the "Class B Interest") as of the Due Period Ended in October 31, 1996 ........................................ $ 40,000,000.00 (d) The Class A Interest and the Class B Interest set forth in paragraph 2 (b) and 2 (c) above as a percentage of the aggregate amount of Principal Receivables set forth in paragraph 2 (a) above .................. 45.90% (e) The Class A Interest set forth in paragraph 2 (b) above as a percentage of the aggregate amount of Principal Receivables set forth in paragraph 2 (a) above ..... 38.25% (f) The Class B Interest set forth in paragraph 2 (c) above as a percentage of the aggregate amount of Principal Receivables set forth in paragraph 2 (a) above ..... 7.65% (g) The Deficit Controlled Amortization Amount (after giving effect to the payments made on such Distribution Date ...................................$ 0.00 3. Investor Charged-Off Amount. - ---------------------------------- (a) The aggregate amount of Receivables charged-off as uncolle- ctible during the Due Period ended in October 31, 1996 allocable to the Investor Certificates (the "Investor Charged-Off Amount") .................. $ 1,183,612.90 4 (b) The aggregate amount of Receivables charged-off as Uncolle- ctible during the Due Period ended in October 31, 1996 allocable to the Class A Certificates (the "Class A Charged-Off Amount") .................. $ 1,010,479.25 (c) The sum of (i) the aggregate amount of Receivables charged- off as uncollectible during the Due Period ended in October 31, 1996 allocable to the Class B Cert- ficates and (ii) the sum of (a) the positive difference, if any, between the Class B Subordinated Payment and Class B Finance Charge Collections (less Class B Excess Servicing) and (b) the amount by which the Investor Interest for the Class B Certificates is reduced pursuant to subsection 4.03(c) (i)(C)(the "Class B Charged-Off Amount") $ 855,316.46 (d) The Cumulative Class A Charged-Off Amount on .......... ............ November 20, 1996 ........ $ 0.00 (e) The Cumulative Class B Charged-Off Amount on .......... ............ November 20, 1996 ........ $ 0.00 4. Investor losses; Reimbursement of Charge-Offs. - ---------------------------------------------------- (a) The amount of Class A Investor Loss , as defined in Section 4.06 (b) of the Agreement , during the Due Period ended in October 31, 1996 ......... $ 0.00 (b) The amount of Class B Investor Loss , as defined in Section 4.06 (b) of the Agreement , during the Due Period ended in October 31, 1996 ......... $ 0.00 (c) The amount of Class A Investor Loss set forth in Paragraph 5 (a) above, per $1,000 interest ( which will have the effect of reducing, pro rata, the amount of each Class A Certficate- holder's investment) ................... $ 0.000000000 (d) The amount of Class B Investor Loss set forth in Paragraph 5 (b) above, per $1,000 interest ( which will have the effect of reducing, pro rata, the amount of each Class B Certficate- holder's investment) ................... $ 0.000000000 5 (e) The total amount reimbursed to the Trust in the current month pursuant to Section 4.06 (c) of the Agreement, if any, in respect of Class A Investor Losses in prior months ........................................ $ 0.00 (f) The total amount reimbursed to the Trust in the current month pursuant to Section 4.06 (c) of the Agreement, if any, in respect of Class B Investor Losses in prior months ........................................ $ 0.00 (g) The amount set forth in paragraph 5 (e) above, per $1,000 interest (which will have the effect of increasing, pro rata, the amount of each Class A Certificateholder's investment) ........................................ $ 0.000000000 (h) The amount set forth in paragraph 5 (f) above, per $1,000 interest (which will have the effect of increasing, pro rata, the amount of each Class B Certificateholder's investment) ........................................ $ 0.000000000 (i) The aggregate amount of Class A Investor Losses in the Trust as of the end of the day on November 20, 1996 ........................................ $ 0.00 (j) The aggregate amount of Class B Investor Losses in the Trust as of the end of the day on November 20, 1996 ........................................ $ 0.00 (k) The amount set forth in paragraph 5 (i) above , per $1,000 interest (which will have had the effect of reducing , pro rata , the amount of Class A Certificateholder's investment ) ........................... $ 0.000000000 (l) The amount set forth in paragraph 5 (j) above , per $1,000 interest (which will have had the effect of reducing , pro rata , the amount of Class B Certificateholder's investment ) ........................... $ 0.000000000 5. Investor Servicing Fee. - ---------------------------- (a) The amount of the Class A Monthly Servicing Fee payable by the Trust to the Servicer for the month of October 31, 1996 ..................................... $ 388,878.74 6 (b) The amount of the Class B Monthly Servicing Fee payable by the Trust to the Servicer for the month of October 31, 1996 ..................................... $ 66,629.77 6. Available Subordinated Amount. - ------------------------------------- (a) The amount available to be applied pursuant to Sections 4.03 (c) (i) (B) and (C) of the Agreement as of the end of the day on November 20, 1996 ........ $ 40,000,000.00 (b) The amount set forth in paragraph 6(a) above as a percentage of the Class A Interest. ...................... 20.00% 7. Available Class B Credit Enhancement Amount. - ------------------- (a) The amount available to be drawn under the Class B Credit Enhancement pursuant to Sections 4.03 (c) (i) (G) and (H) of the Agreement as of the end of the day on November 20, 1996 .......................................... $ 30,400,000.00 (b) The amount set forth in paragraph 8 above as a percentage of the Class B Interest. .................... 76.00% 8. The Pool Factor. - ------------------- The Pool Factor represents the ratio of the amount of the Class A Investor Interest as of the end of the day on November 20, 1996 to the amount of the Class A Investor Interest as of the Closing Date. The amount of Class A Certificateholder's pro rata share of the Class A Investor Interest can be determined by multiplying the original denomination of the Class A Certificateholder's Certificate by the Pool Factor ........... 0.50000000 The Pool Factor represents the ratio of the amount of the Class B Investor Interest as of the end of the day on November 20, 1996 to the amount of the Class b Investor Interest as of the Closing Date. The amount of Class B Certificateholder's pro rata share of the Class B Investor Interest can be determined by multiplying the original denomination of the Class B Certificateholder's Certificate by the Pool Factor ........... 1.00000000 7 9. The aggregate outstanding balance of Receivables that were delinquent by the 30 to 59 days as of the close of business on the last day of the Due Period related to such Distribution Date .....................................$ 12,539,323.91 10. The aggregate outstanding balance of Receivables that were delinquent by 60 days as of the close of business on the last day of the Due Period related to such Distribution Date .....................................$ 17,258,130.62 Greenwood Trust Company as Servicer By: ------------------------------- Title: Vice President, Director of Accounting and Treasurer 8 MONTHLY SERVICER CERTIFICATE DISCOVER CARD TRUST 1991 E ---------------------------- CREDIT CARD PASS-THROUGH CERTIFICATES ---------------------------- The undersigned , a duly authorized representative of Greenwood Trust Company ("Greenwood") , as Servicer pursuant to the Pooling and Servicing Agreement dated as of Nov. 1 , 1991 (the "Pooling and Servicing Agreement" ) by and among Greenwood, Discover Receivables Financing Group Inc. and Wilmington Trust Company , does hereby certify as follows: 1. Greenwood is Servicer under the Pooling and Servicing Agreement. 2. The undersigned is a Servicing Officer. 3. The aggregate amount of Collections processed during the related Due Period was equal to .. $ 94,823,795.40 4. The aggregate amount of Class A Principal Collections processed by the Servicer during the related Due Period is equal to .......... $ 66,946,821.50 5. The aggregate amount of the Class A Finance Charge Collections processed by the Servicer during the related Due Period is equal to ... $ 3,466,063.41 6. The sum of all amounts payable to the Class A Certificateholders on the current Distribution Date is equal to ............................ $ 34,752,777.78 7. The aggregate amount of Class B Principal Collections processed by the Servicer during the related Due Period is equal to .......... $ 6,698,161.71 8. The aggregate amount of the Class B Finance Charge Collections processed by the Servicer during the related Due Period is equal to .. $ 593,868.91 9 9. The amount of drawings under the Class B Credit Enhancement required to be made on the succeeding Drawing Date pursuant to (a) Section 4.03(c)(i)(G) is equal to...... $ 0.00 (b) Section 4.03(c)(i)(H) is equal to...... $ 0.00 (c) Section 4.05 is equal to............... $ 0.00 10. The sum of all amounts payable to the Class B Certificateholders on the current Distribution Date is equal to ............................ $ 261,666.67 11. Attached hereto is a true copy of the statement required to be delivered by the Servicer on the date of this Certificate to the Trustee pursuant to section 5.02. IN WHITNESS WHEREOF , the undersigned has duly executed and and delivered this certificate this day of November 20, 1996 GREENWOOD TRUST COMPANY, as Servicer By: ------------------------------ Title: Vice President, Director of Accounting and Treasurer 10
Greenwood Trust Company Cash Collateral Account Monthly Portfolio Status Report Discover Card Trust 1991 E Due Period Ending: 10/31/96 PORTFOLIO STATUS LOSSES & DELINQUENCIES # of Accounts Dollars Ending Total Outstanding 688,533 530,829,329.07 Total Principal Outstanding n/a 522,814,091.72 Total Finance Charge Outstanding n/a 8,015,237.35 Aggregate Investor Interest n/a 239,999,999.96 Delinquencies (90 days or greate 3,772 10,675,276.76 % of Ending Total Outstanding n/a 2.011056% Investor Net Charge Offs n/a 1,183,612.90 Annualized % of Investor Interes n/a 5.196349% Monthly Principal Payment Rate n/a 30.685410% PAYMENTS & YIELD Principal Payments (Allocable to Investor Interest) 73,644,983.21 Finance Charges, Annual Fees & Late Fees (Allocable to Investor Interest) 4,059,932.32 Annualized Gross Yield to Investor 17.824093%
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