GATE(sm) RECEIVABLE ASSET-BACKED DEBT SECURITIES (GRADS(sm))
COLLATERALIZED STUDENT LOAN BONDS
SERIES 1997-S1
$8,000,000
TERMS AGREEMENT
Dated: April 10, 1997
To: The National Collegiate Trust (the "Company") and The National
Collegiate Trust 1997-S1 (the "Issuer")
Re: Underwriting Agreement dated as of April 3, 1996 (the "Agreement")
Series Designation: 7.45% Class A Collateralized Student Loan Bonds,
Series 1997-S1
8.25% Class B Collateralized Student Loan Bonds,
Series 1997-S1
Terms of the Bonds and Underwriting Compensation:
================================================================================
Original Interest Price to
Principal Amount Rate Public
--------------------------------------------------------------------------------
Class A $5,250,000 7.45% 96.390625
--------------------------------------------------------------------------------
Class B $2,750,000 8.25% 95.312500
================================================================================
Certificate Ratings:
Class A - Xxxxx'x Aa2; Class B - Xxxxx'x Baa2
Underwriting Fee:
1.20% of the original principal amount of the Series 1997-S1 Class A
Bonds issued. 2.00% of the original principal amount of the Series
1997-S1 Class B Bonds issued.
Purchase Price:
Class A 95.190625%
Class B 93.312500%
Final Maturity:
September 20, 2013
Closing Date and Location:
April 10, 1997 at the office of Xxxxxxx Xxxxxxxx & Xxxx, New
York, New York.
Attached as EXHIBIT A are the Computational Materials
furnished by the Underwriter to prospective purchasers pursuant to
SECTIONS 3(G) and 6(A)(II) of the Agreement. The Issuer, the Company
and the Underwriter hereby agree to the terms of this Terms Agreement
and to the terms of the Underwriting Agreement, dated as of April 3,
1996, between the Company and BancAmerica Securities, Inc.
THE NATIONAL COLLEGIATE TRUST 1997-S1
By: DELAWARE TRUST CAPITAL
MANAGEMENT, INC., not in its individual
capacity, but solely as Owner Trustee
By:_________________________________
Name:
Title:
BANCAMERICA SECURITIES, INC.
By:_________________________________
Name:
Title:
ACCEPTED:
THE NATIONAL COLLEGIATE TRUST
By: DELAWARE TRUST CAPITAL MANAGEMENT,
INC., not in its individual capacity,
but solely as Owner Trustee
By:_________________________________
Name:
Title:
