8-K 1 ucs1093001.txt UCS MONTHLY 8-K SECURITIES AND EXCHANGE COMMISSION Washington, DC 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) October 13, 2001 Universal Bank, N.A. (Originator of the Universal Card Master Trust) Universal Card Master Trust (Issuer of the Asset Backed Certificates) (Exact name of registrant as specified in its charter) United States of America 33-93806 58-1885168 (State or Other (Commission File (IRS Employer Jurisdiction of Number) Identification Incorporation) Number) 200 Brookstone Centre, Suite 110 Columbus, GA 31904 31904 (Address of Principal Executive Office) (Zip Code) Registrants telephone number, including area code (706) 562-2200 N/A (Former Name or Former Address, if Changed Since Last Report) INFORMATION TO BE INCLUDED IN THE REPORT Items 1-4. Not Applicable Item 5. The Certificateholder Statements for the month ending September 30, 2001 for the Universal Card Master Trust Series 1995-3, and Series 1997-1 Certificates were distributed on October 17, 2001. Item 6. Not Applicable. Item 7. Exhibits. The following are filed as Exhibits to this Report under Exhibits 20.1, and 20.4. Exhibit 20.1 Monthly Servicing Report dated October 17, 2001 with respect to the Universal Card Master Trust Series 1995-3. Exhibit 20.4 Monthly Servicing Report dated October 17, 2001. with respect to the Universal Card Master Trust Series 1997-1. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. UNIVERSAL BANK, N.A. By:_/s/ Meridith Jarrell Name: Meridith Jarrell Title: President & Chief Operating Officer EXHIBIT INDEX Exhibit Description 20.1 Monthly Servicing Report dated October 17, 2001. with respect to the Universal Card Master Trust Series 1995-3. 20.4 Monthly Servicing Report dated October 17, 2001. with respect to the Universal Card Master Trust Series 1997-1. Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

A. Information Regarding the Total Trust ------------------------------------- 1. Trust Portfolio Yield .................................. 119.6544% Total Yield Component ............................. 1614.9648% Net Credit Loss Component ......................... 5.3004% Recoveries ......................................... 0.4849% 2. Principal Purchase Rate ............................... 1711.5143% 3. Principal Payment Rate ............................... 1411.5193% 4. Aggregate Amount of Principal Receivables in the Trust : Beginning of Due Period ............................ $ 1213,~~927~~239,~~874~~906,~~602~~519 Weighted Average (used for mid-month addition) ..... $ 0 Lump Sum Addition .................................. $ 0 End of Due Period .................................. $ 13,~~239~~081,~~906~~079,~~519~~663 Transferor's Interest .............................. $ 76,~~289~~478,~~906~~079,~~519~~663 Aggregate Invested Amount of all Series: ............ $ 56,~~950~~603,000,000

5. Delinquencies (Aggregate outstanding balances in the Accounts that were delinquent by the time periods listed below as of the close of business of the month preceding the Distribution Date, as a percentage of aggregate Receivables as of the last day of the Due Period) :

Current .......................................... $ 12,~~481~~406,~~056~~835,~~820~~627 5-34 days delinquent ........................... $ ~~539~~558,~~943~~425,~~241~~293 35-64 days delinquent ........................... $ ~~176~~175,~~706~~810,~~767~~760 65-94 days delinquent ........................... $ ~~117~~118,~~513~~404,~~384~~587 95-124 days delinquent ........................... $ 9188,~~385~~838,~~366~~735 125-154 days delinquent ........................... $ 7372,~~281~~555,~~256~~209 155-184 days delinquent ........................... $ 58,~~053~~179,~~841~~575

Current ........................................... 92.1905% 5-34 days delinquent ........................... 34.9914% 35-64 days delinquent ........................... 1.3130% 65-94 days delinquent ........................... 0.8788% 95-124 days delinquent ........................... 0.6866% 125-154 days delinquent ........................... 0.54% 155-184 days delinquent ........................... 0.4243% 35+ days delinquent ................................ 3.8281%

Page 4 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust For the Due Period Ending September 30, 2001 ============================================================================== B. Information Regarding Group 1 -----------------------------

(Percentage Basis) 1. Portfolio Yield 119.6544% 2. Weighted Average Certificate Rate 3.3080% 3. Weighted Average Investor Fee Rates 1.87%

C. Information Regarding Group 1 -----------------------------

(Dollars Basis) 1. Total Investor Collections $ ~~437~~229,~~843~~933,~~761~~726 Principal Collections $ ~~398~~208,~~980~~812,~~637~~429 Finance Charge Collections $ 3821,~~863~~121,~~124~~297 2. Investor Default Amount $ 127,~~154~~351,~~281~~321 3. Investor Monthly Interest $ 75,~~808~~538,~~300~~331 4. Investor Monthly Fees $ 42,~~285~~727,~~417~~083

Page 5 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1995-3 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

C2. Information Regarding Series 1995-3 ------------------------------------ 1. Total Investor Collections $ ~~119~~98,~~837~~636,~~856~~682 Principal Collections $ ~~108~~89,~~812~~491,~~901~~041 Reallocated Finance Charge Collections $ 119,~~024~~145,~~955~~641 2. Investor Default Amount $ 3,~~314~~150,~~804~~566 3. Investor Monthly Interest $ 2,~~555~~467,~~458~~227 4. Investor Monthly Servicing Fee $ 1,168,750 5. Excess Finance Charge Collections $ 32,~~992~~367,~~330~~263

*Finance charges have been reallocated based on sharing mechanics within the Group, this amount also includes investment proceeds due to Series. C3. Information Regarding Trigger Level ------------------------------------

Current Month 1. Series Adjusted Portfolio Yield - current month 129.3561% 2. Base Rate - current month 5.9682% Coupon Component 43.0995% Servicing Component 1.87% 3. Excess Spread Percentage - current month 63.3979%

3 Month Averages 4. Series Adjusted Portfolio Yield - 3 month average 1211.2913% 5. Base Rate - 3 month average 65.1892% Coupon Component 4.3105% Servicing Component 1.87% 6. Excess Spread Percentage - 3 month average 65.1122%

Page 4 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1995-3 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

D. Information Regarding Series 1995-3 -------------------------------------- 1a. Class A Invested Amount $ 652,500,000 1b. Class B Invested Amount $ 45,000,000 1c. CIA Invested Amount $ 52,500,000 2a. Class A Monthly Interest $ 2,~~218~~147,~~704~~133 2b. Class B Monthly Interest $ ~~157~~152,~~277~~203 2c. CIA Monthly Interest $ ~~179~~167,~~477~~891 3a. Balance in the Class A Interest Funding Account $ 46,~~437~~584,~~408~~541 3b. Balance in the Class B Interest Funding Account $ ~~314~~466,~~553~~756 3c. Balance in the CIA Interest Funding Account $ ~~179~~167,~~477~~891 4a. Class A Investor Charge-offs $ 0 4b. Class B Investor Charge-offs $ 0 4c. CIA Investor Charge-offs $ 0 5. Required Amount $ 0 6a. Class A Principal Deposit to PFA (2) $ 0 6b. Class B Principal Deposit to PFA (2) $ 0 6c. CIA Principal Deposit to PFA (2) $ 0 7a. Balance in Class A Principal Funding Account (2) $ 0 7b. Balance in Class B Principal Funding Account (2) $ 0 7c. Balance in CIA Principal Funding Account (2) $ 0

-------------------------------------------------------------------------- (2) Applicable during the Accumulation Period and any Early Amortization Period Page 5 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1995-3 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

E. Information Regarding Charge-offs and Distributions to Certificateholders(3) ------------------------------------------------------------------------------ 1a. The total amount of the distribution to Class A Certificateholders on the Payment Date $ 06,584,541 1b. The total amount of the distribution to Class B Certificateholders on the Payment Date $ 0466,756 1c. The total amount of the distribution to CIA provider on the Payment Date $ ~~179~~167,~~477~~891 2a. The amount of the distribution set forth in item 1(a) above in respect of principal on the Class A Certificates $ 0 2b. The amount of the distribution set forth in item 1(b) above in respect of principal on the Class B Certificates $ 0 2c. The amount of the distribution set forth in item 1(c) above in respect of principal on the CIA $ 0 3a. The amount of the distribution set forth in item 1(a) above in respect of interest on the Class A Certificates $ 06,584,541 3b. The amount of the distribution set forth in item 1(b) above in respect of interest on the Class B Certificates $ 0466,756 3c. The amount of the distribution set forth in item 1(c) above in respect of interest on the CIA $ ~~179~~167,~~477~~891 4a. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount as of the end of the Record Date with respect to the Payment Date $ 0 4b. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount as of the end of the Record Date with respect to the Payment Date $ 0 4c. The amount, if any, by which the outstanding principal balance of the CIA exceeds the CIA Invested Amount as of the end of the Record Date with respect to the Payment Date $ 0

---------------------------------------------------------- (3) The following information, as applicable, is included only on Payment Date. Page 6 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1995-3 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date. The undersigned, a duly authorized representative of Universal Card Services Corp.('UCS'), as a Servicer pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995 (as amended and supplemented, the 'Pooling And Servicing Agreement'), among UCS, Universal Bank, N.A., as Transferor and Bankers Trust Company, as Trustee (the 'Trustee'), does hereby certify the information set forth below. 1. Capitalized terms used in the Certificate have their respective meanings as set forth in the Agreement or Series Supplement, as applicable. 2. Universal Card Services Corp. is, as of the date hereof, the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on October 17, 2001 5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Due Period preceeding such Distribution Date. 6. As of the date hereof, to the best knowledge of the undersigned, no Amortization Event has been deemed to have occurred on or prior to such Distribution Date. 7. As of date hereof, to the best knowledge of the undersigned, no Lien has been placed on any of the Receivables other than pursuant to the Agreement. IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this 16 day of October 2001 Universal Card Services Corp., Servicer By: /s/ Andrew Lubliner __________________________________________ Name: Andrew Lubliner Title: Servicing Officer Page 7 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1997-1 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

C2. Information Regarding Series ~~1996~~1997-31 ------------------------------------ 1. Total Investor Collections $ ~~158~~131,~~447~~297,~~912~~044 Principal Collections $ ~~145~~119,~~083~~321,~~868~~388 Reallocated Finance Charge Collections $ 1311,~~364~~975,~~044~~656 2. Investor Default Amount $ 4,~~419~~200,~~739~~755 3. Investor Monthly Interest $ 23,071,~~381~~104 4. Investor Monthly Servicing Fee $ 1,558,333 5. Excess Finance Charge Collections $ 53,~~329~~147,~~156~~950

Current Month 1. Series Adjusted Portfolio Yield - current month 109.7533% 2. Base Rate - current month 45.3656% Coupon Component 23.4969% Servicing Component 1.87% 3. Excess Spread Percentage - current month 63.3977%

3 Month Averages 4. Series Adjusted Portfolio Yield - 3 month average 11.4803% 5. Base Rate - 3 month average 5.3882% Coupon Component 3.5195% Servicing Component 1.87% 6. Excess Spread Percentage - 3 month average 65.1021%

Page 8 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1997-1 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

D. Information Regarding Series ~~1996~~1997-31 -------------------------------------- 1a. Class A Invested Amount $ 0850,000,000 1b. Class B Invested Amount $ 080,000,000 1c. CIA Invested Amount $ 070,000,000 2a. Class A Monthly Interest $ 12,~~541~~585,~~281~~417 2b. Class B Monthly Interest $ ~~287~~256,~~783~~000 2c. CIA Monthly Interest $ ~~242~~229,~~317~~688 3a. Balance in the Class A Interest Funding Account $ 85,~~546~~257,~~101~~014 3b. Balance in the Class B Interest Funding Account $ ~~844~~520,~~783~~533 3c. Balance in the CIA Interest Funding Account $ ~~242~~229,~~317~~688 4a. Class A Investor Charge-offs $ 0 4b. Class B Investor Charge-offs $ 0 4c. CIA Investor Charge-offs $ 0 5. Required Amount $ 0 6a. Class A Principal Deposit to PFA (2) $ ~~450,000,000~~0 6b. Class B Principal Deposit to PFA (2) $ ~~80,000,000~~0 6c. CIA Principal Deposit to PFA (2) $ ~~70,000,000~~0 7a. Balance in Class A Principal Funding Account (2) $ ~~850,000,000~~0 7b. Balance in Class B Principal Funding Account (2) $ ~~80,000,000~~0 7c. Balance in CIA Principal Funding Account (2) $ ~~70,000,000~~0

-------------------------------------------------------------------------- (2) Applicable during the Accumulation Period and any Early Amortization Period Page 9 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1997-1 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date.

E. Information Regarding Charge-offs and Distributions to Certificateholders(3) ------------------------------------------------------------------------------ 1a. The total amount of the distribution to Class A Certificateholders on the Payment Date $ ~~858,546,101~~0 1b. The total amount of the distribution to Class B Certificateholders on the Payment Date $ ~~80,844,783~~0 1c. The total amount of the distribution to CIA provider on the Payment Date $ 70229,~~242,317~~688 2a. The amount of the distribution set forth in item 1(a) above in respect of principal on the Class A Certificates $ ~~850,000,000~~0 2b. The amount of the distribution set forth in item 1(b) above in respect of principal on the Class B Certificates $ ~~80,000,000~~0 2c. The amount of the distribution set forth in item 1(c) above in respect of principal on the CIA $ ~~70,000,000~~0 3a. The amount of the distribution set forth in item 1(a) above in respect of interest on the Class A Certificates $ ~~8,546,101~~0 3b. The amount of the distribution set forth in item 1(b) above in respect of interest on the Class B Certificates $ ~~844,783~~0 3c. The amount of the distribution set forth in item 1(c) above in respect of interest on the CIA $ ~~242~~229,~~317~~688 4a. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount as of the end of the Record Date with respect to the Payment Date $ ~~850,000,000~~0 4b. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount as of the end of the Record Date with respect to the Payment Date $ ~~80,000,000~~0 4c. The amount, if any, by which the outstanding principal balance of the CIA exceeds the CIA Invested Amount as of the end of the Record Date with respect to the Payment Date $ ~~70,000,000~~0

---------------------------------------------------------- (3) The following information, as applicable, is included only on Payment Date. Page 10 Universal Bank, N.A., Transferor Universal Card Services Corp., Servicer ============================================================================== Universal Card Master Trust, Series 1997-1 For the Due Period Ending September 30, 2001 ============================================================================== This Certificate relates to the Due Period ending Sep 30, 2001 and the related Distribution Date. The undersigned, a duly authorized representative of Universal Card Services Corp.('UCS'), as a Servicer pursuant to the Pooling and Servicing Agreement dated as of August 1, 1995 (as amended and supplemented, the 'Pooling And Servicing Agreement'), among UCS, Universal Bank, N.A., as Transferor and Bankers Trust Company, as Trustee (the 'Trustee'), does hereby certify the information set forth below. 1. Capitalized terms used in the Certificate have their respective meanings as set forth in the Agreement or Series Supplement, as applicable. 2. Universal Card Services Corp. is, as of the date hereof, the Servicer under the Agreement. 3. The undersigned is a Servicing Officer. 4. This Certificate relates to the Distribution Date occurring on October 17, 2001 5. As of the date hereof, to the best knowledge of the undersigned, the Servicer has performed in all material respects all its obligations under the Agreement through the Due Period preceeding such Distribution Date. 6. As of the date hereof, to the best knowledge of the undersigned, no Amortization Event has been deemed to have occurred on or prior to such Distribution Date. 7. As of date hereof, to the best knowledge of the undersigned, no Lien has been placed on any of the Receivables other than pursuant to the Agreement. IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate this 16 day of October 2001 Universal Card Services Corp., Servicer By: /s/ Andrew Lubliner __________________________________________ Name: Andrew Lubliner Title: Servicing Officer Page 11

C2. Information Regarding Series 1997-1 ------------------------------------ 1. Total Investor Collections $ 159,557,992 Principal Collections $ 145,083,868 Reallocated Finance Charge Collections $ 14,474,124 2. Investor Default Amount $ 4,419,739 3. Investor Monthly Interest $ 3,181,461 4. Investor Monthly Servicing Fee $ 1,558,333 5. Excess Finance Charge Collections $ 5,343,771

Current Month 1. Series Adjusted Portfolio Yield - current month 12.10% 2. Base Rate - current month 5.69% Coupon Component 3.82% Servicing Component 1.87% 3. Excess Spread Percentage - current month 6.41%

3 Month Averages 4. Series Adjusted Portfolio Yield - 3 month average 12.06% 5. Base Rate - 3 month average 5.95% Coupon Component 4.08% Servicing Component 1.87% 6. Excess Spread Percentage - 3 month average 6.10%

D. Information Regarding Series 1997-1 -------------------------------------- 1a. Class A Invested Amount $ 850,000,000 1b. Class B Invested Amount $ 80,000,000 1c. CIA Invested Amount $ 70,000,000 2a. Class A Monthly Interest $ 2,671,597 2b. Class B Monthly Interest $ 264,533 2c. CIA Monthly Interest $ 245,331 3a. Balance in the Class A Interest Funding Account $ 2,671,597 3b. Balance in the Class B Interest Funding Account $ 264,533 3c. Balance in the CIA Interest Funding Account $ 245,331 4a. Class A Investor Charge-offs $ 0 4b. Class B Investor Charge-offs $ 0 4c. CIA Investor Charge-offs $ 0 5. Required Amount $ 0 6a. Class A Principal Deposit to PFA (2) $ 0 6b. Class B Principal Deposit to PFA (2) $ 0 6c. CIA Principal Deposit to PFA (2) $ 0 7a. Balance in Class A Principal Funding Account (2) $ 0 7b. Balance in Class B Principal Funding Account (2) $ 0 7c. Balance in CIA Principal Funding Account (2) $ 0

E. Information Regarding Charge-offs and Distributions to Certificateholders(3) ------------------------------------------------------------------------------ 1a. The total amount of the distribution to Class A Certificateholders on the Payment Date $ 0 1b. The total amount of the distribution to Class B Certificateholders on the Payment Date $ 0 1c. The total amount of the distribution to CIA provider on the Payment Date $ 245,331 2a. The amount of the distribution set forth in item 1(a) above in respect of principal on the Class A Certificates $ 0 2b. The amount of the distribution set forth in item 1(b) above in respect of principal on the Class B Certificates $ 0 2c. The amount of the distribution set forth in item 1(c) above in respect of principal on the CIA $ 0 3a. The amount of the distribution set forth in item 1(a) above in respect of interest on the Class A Certificates $ 0 3b. The amount of the distribution set forth in item 1(b) above in respect of interest on the Class B Certificates $ 0 3c. The amount of the distribution set forth in item 1(c) above in respect of interest on the CIA $ 245,331 4a. The amount, if any, by which the outstanding principal balance of the Class A Certificates exceeds the Class A Invested Amount as of the end of the Record Date with respect to the Payment Date $ 0 4b. The amount, if any, by which the outstanding principal balance of the Class B Certificates exceeds the Class B Invested Amount as of the end of the Record Date with respect to the Payment Date $ 0 4c. The amount, if any, by which the outstanding principal balance of the CIA exceeds the CIA Invested Amount as of the end of the Record Date with respect to the Payment Date $ 0

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