Prospectus Supplement dated May 28, 2009 to Prospectus dated May 27, 2009
FIA Card Services, National Association
Sponsor, Servicer and Originator
BA Credit Card Funding, LLC
Transferor and Depositor
BA Credit Card Trust
Issuing Entity
BAseries
The issuing entity will issue and sell: Class B(2009-1) Notes
Principal amount $100,000,000
Interest rate one-month LIBOR plus 4.75% per year
(determined as described in the
following Class B(2009-1) summary)
Interest payment dates 15th day of each month,
beginning in July 2009
Expected principal payment date June 15, 2010
Legal maturity date November 15, 2012
Expected issuance date June 4, 2009
Price $100,000,000 (or 100%)
Proceeds to the issuing entity $100,000,000 (or 100%)
The Class B(2009-1) notes are a tranche of the Class B notes of the BAseries and initially will be sold directly to one
or more purchasers.
Subordination: Interest and principal on the Class B notes of the BAseries are subordinated to payments on the Class A
notes as described herein and in the accompanying prospectus.
Credit Enhancement: Interest and principal on the Class C notes of the BAseries and the Class D certificate, Series
2001-D are subordinated to payments on the Class A notes and the Class B notes as described herein and in the
accompanying prospectus.
_____________________________________________________________________________________________________________________________
You should consider the discussion under "Risk Factors" beginning on page 29 of the accompanying prospectus before you
purchase any notes.
The primary asset of the issuing entity is the collateral certificate, Series 2001-D. The collateral certificate represents
an undivided interest in BA Master Credit Card Trust II. Master Trust II's assets include receivables arising in a
portfolio of unsecured consumer revolving credit card accounts. The notes are obligations of the issuing entity only and
are not obligations of BA Credit Card Funding, LLC, FIA Card Services, National Association, their affiliates or any other
person. Each tranche of notes will be secured by specified assets of the issuing entity as described in this prospectus
supplement and in the accompanying prospectus. Noteholders will have no recourse to any other assets of the issuing entity
for payment of the BAseries notes.
The notes are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency or
instrumentality.
_____________________________________________________________________________________________________________________________
Neither the SEC nor any state securities commission has approved the notes or determined that this prospectus supplement
or the prospectus is truthful, accurate or complete. Any representation to the contrary is a criminal offense.
Important Notice about Information Presented in this
Prospectus Supplement and the Accompanying Prospectus
We provide information to you about the notes in two separate documents:
(a) this prospectus supplement, which will describe the specific terms of the Class B(2009-1) notes, and
(b) the accompanying prospectus, which provides general information about the BAseries notes and each other
series of notes which may be issued by the BA Credit Card Trust, some of which may not apply to the BAseries or the Class
B(2009-1) notes.
References to the prospectus mean the prospectus accompanying this prospectus supplement.
This prospectus supplement may be used to offer and sell the Class B(2009-1) notes only if accompanied by the
prospectus.
This prospectus supplement supplements disclosure in the prospectus.
You should rely only on the information provided in this prospectus supplement and the prospectus including any
information incorporated by reference. We have not authorized anyone to provide you with different information.
We are not offering the Class B(2009-1) notes in any state where the offer is not permitted. We do not claim the
accuracy of the information in this prospectus supplement or the prospectus as of any date other than the dates stated on
their respective covers.
We include cross-references in this prospectus supplement and in the prospectus to captions in these materials
where you can find further related discussions. The Table of Contents in this prospectus supplement and in the
prospectus provide the pages on which these captions are located.
Parts of this prospectus supplement and the prospectus use defined terms. You can find a listing of defined
terms in the "Glossary of Defined Terms" beginning on page 186 in the prospectus.
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Table of Contents
Page
Class B(2009-1) Summary...........................S-4
Transaction Parties...............................S-7
BA Credit Card Trust.........................S-7
BA Master Credit Card Trust II...............S-7
BA Credit Card Funding, LLC..................S-7
FIA and Affiliates...........................S-8
Use of Securitization as a
Source of Funding.....................S-8
The Bank of New York Mellon .................S-9
Wilmington Trust Company.....................S-9
The Class B(2009-1) Notes.........................S-9
Securities Offered...........................S-9
The BAseries.................................S-9
Interest....................................S-10
Principal...................................S-11
Nominal Liquidation Amount..................S-12
Subordination; Credit Enhancement...........S-12
Required Subordinated Amount................S-14
The Class D Certificate.....................S-15
Revolving Period............................S-16
Early Redemption of Notes...................S-16
Optional Redemption by the Issuing Entity...S-16
Events of Default...........................S-17
Issuing Entity Accounts.....................S-17
Security for the Notes......................S-17
Limited Recourse to the Issuing Entity......S-17
Accumulation Reserve Account................S-18
Shared Excess Available Funds...............S-18
Stock Exchange Listing......................S-19
Ratings.....................................S-19
Plan of Distribution.............................S-19
Annex I:
Outstanding Series, Classes and
Tranches of Notes.............................A-I-1
Annex II:
Outstanding Master Trust II Series.............A-II-1
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Class B(2009-1) Summary
This summary does not contain all the information you may need to make an informed investment decision. You
should read this prospectus supplement and the prospectus in their entirety before you purchase any notes.
Only the Class B(2009-1) notes are being offered through this prospectus supplement and the prospectus. Other
series, classes and tranches of BA Credit Card Trust notes, including other tranches of notes that are included in the
BAseries as a part of the Class B notes or other notes that are included in the Class B(2009-1) tranche, may be issued by
the BA Credit Card Trust in the future without the consent of, or prior notice to, any noteholders.
Other series of certificates of master trust II may be issued without the consent of, or prior notice to, any
noteholders or certificateholders.
Transaction Parties
Issuing Entity of the Notes BA Credit Card Trust
Issuing Entity of the Collateral Certificate BA Master Credit Card Trust II
Sponsor, Servicer and Originator FIA Card Services, National Association
Transferor and Depositor BA Credit Card Funding, LLC
Master Trust II Trustee, Indenture Trustee The Bank of New York Mellon
Owner Trustee Wilmington Trust Company
Assets
Primary Asset of the Issuing Entity Master trust II, Series 2001-D Collateral Certificate
Collateral Certificate Undivided interest in master trust II
Primary Assets of Master Trust II Receivables in unsecured revolving credit card accounts
Accounts and Receivables (as of beginning Principal receivables: $97,798,614,575
of the day on May 1, 2009) * Finance charge receivables: $3,254,394,708
Asset Backed Securities Offered Class B(2009-1)
Class Class B
Series BAseries
Initial Principal Amount $100,000,000
Initial Nominal Liquidation Amount $100,000,000
Expected Issuance Date June 4, 2009
Subordination The Class B(2009-1) notes will be subordinated to the Class A
notes.
Credit Enhancement Subordination of the Class C notes and the Class D certificate
Credit Enhancement Amount Required Subordinated Amount and Required Class D Investor
Interest
Required Subordinated Amount of Class C Notes An amount equal to 6.95187% of the adjusted outstanding dollar
principal amount of the Class B(2009-1) notes that are not
providing credit enhancement to the Class A notes, plus 100% of
_____________________
* On March 1, 2009, BA Credit Card Funding, LLC designated a discount option of 6.00% for all principal receivables
generated from March 1, 2009 until September 30, 2009. As a result of the designation of the discount option, the amount
of principal receivables is reduced, and the amount of finance charge receivables is increased.
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the adjusted outstanding dollar principal amount of the Class
B(2009-1) notes' pro rata share of the Class A required
subordinated amount of Class C notes for all Class A notes. See
"The Class B(2009-1) Notes—Required Subordinated Amount" for a
discussion of the calculation of the Class B(2009-1) notes'
required subordinated amount of Class C notes, and the method by
which that calculation may be changed in the future.
Required Class D Investor Interest The required Class D investor interest is approximately equal to
8.00% of the sum of the aggregate adjusted outstanding dollar
principal amount of the BAseries notes and the Class D investor
interest. See "The Notes—Required Subordinated Amount—The Class
D Certificate" in the prospectus for a more specific description
of how the required Class D investor interest is calculated.
Accumulation Reserve Account Targeted Deposit 0.5% of the outstanding dollar principal amount of the Class
B(2009-1) notes.
Risk Factors Investment in the Class B(2009-1) notes involves risks. You
should consider carefully the risk factors beginning on page 29
in the prospectus.
Interest
Interest Rate London interbank offered rate for U.S. dollar deposits for a
one-month period (or, for the first interest accrual period, the
rate that corresponds to the actual number of days in the first
interest accrual period) (LIBOR) as of each LIBOR determination
date plus 4.75% per year.
LIBOR Determination Dates June 2, 2009 for the period from and including the issuance
date to but excluding July 15, 2009, and for each interest
accrual period thereafter, the date that is two London Business
Days before each distribution date.
Distribution Dates The 15th day of each calendar month (or the next Business Day if
the 15th is not a Business Day).
London Business Day London, New York, New York and Newark, Delaware banking day
Interest Accrual Method Actual/360
Interest Accrual Periods From and including the issuance date to but excluding the first
interest payment date and then from and including each interest
payment date to but excluding the next interest payment date.
Interest Payment Dates Each distribution date starting on July 15, 2009
First Interest Payment Date July 15, 2009
Business Day New York, New York and Newark, Delaware
Principal
Expected Principal Payment Date June 15, 2010
Legal Maturity Date November 15, 2012
Revolving Period End Between 11 and 1 months prior to expected principal payment date
Servicing Fee 2% of the Series 2001-D investor interest
Ratings The Class B(2009-1) notes must be rated by at least one of the
following nationally recognized rating agencies:
Moody's: A2
Standard & Poor's: A
Fitch: A
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Early Redemption Events Early redemption events applicable to the Class B(2009-1) notes
include the following: (i) the occurrence of the expected
principal payment date for such notes; (ii) each of the Pay Out
Events described under "Master Trust II—Pay Out Events" in the
prospectus; (iii) the issuing entity becoming an "investment
company" within the meaning of the Investment Company Act of
1940, as amended; and (iv) for any date the amount of Excess
Available Funds for the BAseries averaged over the 3 preceding
calendar months is less than the Required Excess Available Funds
for the BAseries for such date. See "The Indenture—Early
Redemption Events" in the prospectus.
Events of Default Events of default applicable to the Class B(2009-1) notes
include the following: (i) the issuing entity's failure, for a
period of 35 days, to pay interest upon such notes when such
interest becomes due and payable; (ii) the issuing entity's
failure to pay the principal amount of such notes on the
applicable legal maturity date; (iii) the issuing entity's
default in the performance, or breach, of any other of its
covenants or warranties, as discussed in the prospectus; and
(iv) the occurrence of certain events of bankruptcy, insolvency,
conservatorship or receivership of the issuing entity. See "The
Indenture—Events of Default" in the prospectus.
Optional Redemption If the nominal liquidation amount is less than 5% of the highest
outstanding dollar principal amount.
ERISA Eligibility Yes, subject to important considerations described under
"Benefit Plan Investors" in the prospectus (investors are
cautioned to consult with their counsel).
Tax Treatment Debt for U.S. federal income tax purposes, subject to important
considerations described under "Federal Income Tax Consequences"
in the prospectus (investors are cautioned to consult with their
tax counsel).
Stock Exchange Listing The issuing entity will apply to list the Class B(2009-1) notes
on a stock exchange in Europe. The issuing entity cannot
guarantee that the application for the listing will be accepted
or that, if accepted, the listing will be maintained. To
determine whether the Class B(2009-1) notes are listed on a
stock exchange you may contact the issuing entity c/o Wilmington
Trust Company, Rodney Square North, 1100 N. Market Street,
Wilmington, Delaware 19890-0001, telephone number:
(302) 651-1000.
Clearing and Settlement DTC/Clearstream/Euroclear
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Transaction Parties
BA Credit Card Trust
The notes will be issued by BA Credit Card Trust (referred to as the issuing entity). For a description of the
limited activities of the issuing entity, see "Transaction Parties—BA Credit Card Trust" in the prospectus.
BA Master Credit Card Trust II
BA Master Credit Card Trust II (referred to as master trust II) issued the collateral certificate and the Class D
certificate, each as a part of Series 2001-D. See "Transaction Parties—BA Master Credit Card Trust II" and "Master Trust
II" in the prospectus. The collateral certificate is the issuing entity's primary source of funds for the payment of
principal of and interest on the notes. The collateral certificate and the Class D certificate are investor certificates
that represent an undivided interest in master trust II. Master trust II's assets primarily include receivables from
selected MasterCard®, Visa® and American Express® unsecured revolving credit card accounts that meet the eligibility
criteria for inclusion in master trust II. These eligibility criteria are discussed under "Master Trust II—Addition of
Master Trust II Assets."
The credit card receivables in master trust II consist primarily of finance charge receivables and principal
receivables. Finance charge receivables include periodic finance charges, cash advance fees, late charges and certain
other fees billed to cardholders, annual membership fees and recoveries on receivables in Defaulted Accounts, and
discount option receivables. Principal receivables include amounts charged by cardholders for merchandise and services,
amounts advanced to cardholders as cash advances and all other fees billed to cardholders that are not considered finance
charge receivables.
In addition, Funding is permitted to add to master trust II participation interests in pools of assets that
primarily consist of receivables arising under revolving credit card accounts owned by FIA and collections on such
receivables.
See "Annex I: The Master Trust II Portfolio" in the prospectus for detailed financial information on the
receivables and the accounts.
The collateral certificate and the Class D certificate comprise the Series 2001-D certificates issued by master
trust II. Other series of certificates may be issued by master trust II in the future without prior notice to or the
consent of any noteholders or certificateholders. See "Annex II: Outstanding Master Trust II Series" in this prospectus
supplement for information on the other outstanding series issued by master trust II.
BA Credit Card Funding, LLC
BA Credit Card Funding, LLC (referred to as Funding), a limited liability company formed under the laws of
Delaware and a subsidiary of Banc of America Consumer Card Services, LLC, an indirect subsidiary of FIA, is the
transferor and depositor to master trust II. Funding is also the holder of the Transferor Interest in master trust II
and the beneficiary of the
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issuing entity. On the Substitution Date, Funding was substituted for FIA as the transferor of receivables to master
trust II, as holder of the Transferor Interest in master trust II, and as beneficiary of the issuing entity pursuant to
the trust agreement. See "Transaction Parties—BA Credit Card Funding, LLC" in the prospectus for a description of
Funding and its responsibilities.
FIA and Affiliates
FIA Card Services, National Association (referred to as FIA) is a national banking association. FIA is an
indirect subsidiary of Bank of America Corporation.
FIA formed master trust II on August 4, 1994. Prior to the substitution of Funding as transferor of receivables
to master trust II, which coincided with the merger of Bank of America, National Association (USA) with and into FIA, FIA
transferred receivables to master trust II. In addition, prior to this substitution and merger, FIA was the holder of
the Transferor Interest in master trust II, the transferor of the collateral certificate to the issuing entity pursuant
to the trust agreement, and the sole beneficiary of the issuing entity. At the time of this substitution and merger,
FIA's economic interest in the Transferor Interest in master trust II was transferred to Funding through Banc of America
Consumer Card Services, LLC (referred to as BACCS). In addition, from and after this substitution and merger, FIA has
transferred, and will continue to transfer, to BACCS the receivables arising in certain of the U.S. consumer credit card
accounts originated or acquired by FIA. BACCS has sold and may continue to sell receivables to Funding for addition to
master trust II. The receivables transferred to master trust II have been and will continue to be generated from
transactions made by cardholders of selected MasterCard, Visa and American Express credit card accounts from the
portfolio of MasterCard, Visa and American Express accounts originated or acquired by FIA (such portfolio of accounts is
referred to as the Bank Portfolio).
BACCS is a limited liability company formed under the laws of North Carolina and an indirect subsidiary of FIA.
FIA is responsible for servicing, managing and making collections on the credit card receivables in master trust
II. See "Transaction Parties—FIA and Affiliates" in the prospectus for a description of FIA, BACCS and each of their
respective responsibilities.
See "Transaction Parties—FIA and Affiliates" and "FIA's Credit Card Activities" in the prospectus for a
discussion of FIA's servicing practices and its delegation of servicing functions to its operating subsidiary Banc of
America Card Servicing Corporation.
Use of Securitization as a Source of Funding
FIA has been securitizing credit card receivables since 1986. FIA created master trust II on August 4, 1994. BA
Credit Card Trust, the issuing entity, was created on May 4, 2001. In addition to sponsoring the securitization of the
credit card receivables in master trust II, FIA and its affiliates are the sponsors to other master trusts securitizing
other consumer and small business lending products.
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FIA uses a variety of funding sources to meet its liquidity goals. Funding sources for FIA have included, but
are not limited to, securitization and debt issuances.
The Bank of New York Mellon
The Bank of New York Mellon, a New York banking corporation, is the indenture trustee under the indenture for the
notes and the trustee under the pooling and servicing agreement (referred to herein and in the prospectus as the master
trust II agreement) for the master trust II investor certificates. See "The Indenture—Indenture Trustee" in the
prospectus for a description of the limited powers and duties of the indenture trustee and "Master Trust II—Master Trust
II Trustee" in the prospectus for a description of the limited powers and duties of the master trust II trustee. See
"Transaction Parties—The Bank of New York Mellon" in the prospectus for a description of The Bank of New York Mellon.
Wilmington Trust Company
Wilmington Trust Company, a Delaware banking corporation, is the owner trustee of the issuing entity. See
"Transaction Parties—Wilmington Trust Company" in the prospectus for a description of the ministerial powers and duties of
the owner trustee and for a description of Wilmington Trust Company.
The Class B(2009-1) Notes
The Class B(2009-1) notes will be issued by the issuing entity pursuant to the indenture and the BAseries
indenture supplement. The following discussion and the discussions under "The Notes" and "The Indenture" in the
prospectus summarize the material terms of the Class B(2009-1) notes, the indenture and the BAseries indenture
supplement. These summaries do not purport to be complete and are qualified in their entirety by reference to the
provisions of the Class B(2009-1) notes, the indenture and the BAseries indenture supplement. So long as the conditions
to issuance are met or waived, additional Class B(2009-1) notes may be issued on any date or in any amount. There is no
limit on the total dollar principal amount of Class B(2009-1) notes that may be issued. See "The Notes—Issuances of New
Series, Classes and Tranches of Notes" in the prospectus for a description of the conditions to issuance.
Securities Offered
The Class B(2009-1) notes are part of a series of notes called the BAseries. The BAseries consists of Class A
notes, Class B notes and Class C notes. The Class B(2009-1) notes are a tranche of Class B notes of the BAseries. The
Class B(2009-1) notes are issued by, and are obligations of, the BA Credit Card Trust.
On the expected issuance date, the Class B(2009-1) notes are expected to be the twentieth tranche of Class B
notes outstanding in the BAseries.
The BAseries
The BAseries notes will be issued in classes. Each class of notes has multiple tranches, which may be issued at
different times and have different terms (including different interest
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rates, interest payment dates, expected principal payment dates, legal maturity dates or other characteristics). Whenever a
"class" of notes is referred to in this prospectus supplement or the prospectus, it includes all tranches of that class of
notes, unless the context otherwise requires.
Notes of any tranche can be issued on any date so long as a sufficient amount of subordinated notes or other
acceptable credit enhancement has been issued and is outstanding. See "The Notes—Issuances of New Series, Classes and
Tranches of Notes" in the prospectus. The expected principal payment dates and legal maturity dates of tranches of
senior and subordinated classes of the BAseries may be different. Therefore, subordinated notes may have expected
principal payment dates and legal maturity dates earlier than some or all senior notes of the BAseries. Subordinated
notes will generally not be paid before their legal maturity date unless, after payment, the remaining outstanding
subordinated notes provide the credit enhancement required for the senior notes.
In general, the subordinated notes of the BAseries serve as credit enhancement for all of the senior notes of the
BAseries, regardless of whether the subordinated notes are issued before, at the same time as, or after the senior notes
of the BAseries. However, certain tranches of senior notes may not require subordination from each class of notes
subordinated to it. For example, a tranche of Class A notes may be credit enhanced solely from Class C notes. In this
example, the Class B notes will not provide credit enhancement for that tranche of Class A notes. The amount of credit
exposure of any particular tranche of notes is a function of, among other things, the total outstanding principal amount
of notes issued, the required subordinated amount, the amount of usage of the required subordinated amount and the amount
on deposit in the senior tranches' principal funding subaccounts.
As of the date of this prospectus supplement, the BAseries is the only issued and outstanding series of the
issuing entity. See "Annex I: Outstanding Series, Classes and Tranches of Notes" for information on the other
outstanding notes issued by the issuing entity.
Interest
Interest on the Class B(2009-1) notes will accrue at a floating rate equal to the London interbank offered rate
for U.S. dollar deposits for a one-month period (or, for the first interest accrual period, the rate that corresponds to
the actual number of days in the first interest accrual period) (LIBOR) plus a spread as specified on the cover page of
this prospectus supplement.
LIBOR appears on Reuters Screen LIBOR01 Page (or comparable replacement page) and will be the rate available at
11:00 a.m., London time, on the related LIBOR determination date. If the rate does not appear on that page, the rate will
be the average of the rates offered by four prime banks in London. If fewer than two London banks provide a rate at the
request of the indenture trustee, the rate will be the average of the rates offered by four major banks in New York City.
Interest on the Class B(2009-1) notes for any interest payment date will equal the product of:
• the Class B(2009-1) note interest rate for the applicable interest accrual period; multiplied by
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• the actual number of days in the related interest accrual period divided by 360; multiplied by
• the outstanding dollar principal amount of the Class B(2009-1) notes as of the related record date.
The payment of interest on the Class B(2009-1) notes on any payment date is senior to the payment of interest on
Class C notes of the BAseries on that date. Generally, no payment of interest will be made on any Class B BAseries note
until the required payment of interest has been made to all Class A BAseries notes. Likewise, generally, no payment of
interest will be made on any Class C BAseries note until the required payment of interest has been made to all Class A
and Class B BAseries notes. However, funds on deposit in the Class C reserve account will be available only to holders
of Class C notes to cover shortfalls of interest on Class C notes on any interest payment date. The Class B(2009-1)
notes generally will not receive interest payments on any payment date until the Class A notes have received their full
interest payment on that date.
The issuing entity will pay interest on the Class B(2009-1) notes solely from the portion of BAseries Available
Funds and from other amounts that are available to the Class B(2009-1) notes under the indenture and the BAseries
indenture supplement after giving effect to all allocations and reallocations. If those sources are not sufficient to
pay the interest on the Class B(2009-1) notes, Class B(2009-1) noteholders will have no recourse to any other assets of
the issuing entity, FIA, BACCS, Funding or any other person or entity for the payment of interest on those notes.
Principal
The issuing entity expects to pay the stated principal amount of the Class B(2009-1) notes in one payment on its
expected principal payment date, and is obligated to do so if funds are available for that purpose and not required for
subordination. If the stated principal amount of the Class B(2009-1) notes is not paid in full on the expected principal
payment date due to insufficient funds or insufficient credit enhancement, noteholders will generally not have any
remedies against the issuing entity until the legal maturity date of the Class B(2009-1) notes.
In addition, if the stated principal amount of the Class B(2009-1) notes is not paid in full on the expected
principal payment date, then an early redemption event will occur for the Class B(2009-1) notes and, subject to the
principal payment rules described under "—Subordination; Credit Enhancement" and "—Required Subordinated Amount"
below, principal and interest payments on the Class B(2009-1) notes will be made monthly until they are paid in full or
until the legal maturity date occurs, whichever is earlier.
Principal of the Class B(2009-1) notes will begin to be paid earlier than the expected principal payment date if
any other early redemption event or an event of default and acceleration occurs for the Class B(2009-1) notes. See "The
Notes—Early Redemption of Notes," "The Indenture—Early Redemption Events" and "—Events of Default" in the prospectus.
The issuing entity will pay principal on the Class B(2009-1) notes solely from the portion of BAseries Available
Principal Amounts and from other amounts which are available to the
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Class B(2009-1) notes under the indenture and the BAseries indenture supplement after giving effect to all allocations
and reallocations. If those sources are not sufficient to pay the principal of the Class B(2009-1) notes, Class
B(2009-1) noteholders will have no recourse to any other assets of the issuing entity, Funding, BACCS, FIA or any other
person or entity for the payment of principal on those notes.
Nominal Liquidation Amount
The nominal liquidation amount of a tranche of notes corresponds to the portion of the Investor Interest of
Series 2001-D that is available to support that tranche of notes. Generally, the nominal liquidation amount is used to
determine the amount of Available Principal Amounts and Available Funds that are available to pay principal of and
interest on the notes. For a more detailed discussion of nominal liquidation amount, see "The Notes—Stated Principal
Amount, Outstanding Dollar Principal Amount and Nominal Liquidation Amount" in the prospectus.
Subordination; Credit Enhancement
Credit enhancement for the Class B(2009-1) notes will be provided through subordination of the Class C BAseries
notes and the Class D certificate. The amount of subordination available to provide credit enhancement to any tranche of
notes is limited to its available subordinated amount. If the available subordinated amount for any tranche of notes has
been reduced to zero, losses will be allocated to that tranche of notes pro rata based on its nominal liquidation
amount. The nominal liquidation amount of those notes will be reduced by the amount of losses allocated to it and it is
unlikely that those notes will receive their full payment of principal.
Principal and interest payments on Class B and Class C BAseries notes are subordinated to payments on Class A
BAseries notes as described above under "—Interest" and "—Principal." Principal payments and Available Funds allocated
to the Class D certificate are subordinated to payments on Class A BAseries notes as described in "Master Trust II—The
Class D Certificate" in the prospectus. Subordination of Class B and Class C BAseries notes and the Class D certificate
provides credit enhancement for Class A BAseries notes.
Principal and interest payments on Class C BAseries notes are subordinated to payments on Class A and Class B
BAseries notes as described above under "—Interest" and "—Principal." Principal payments and Available Funds
allocated to the Class D certificate are subordinated to payments on Class A and B BAseries notes as described in "Master
Trust II—The Class D Certificate" in the prospectus. Subordination of Class C BAseries notes and the Class D
certificate provides credit enhancement for Class A and Class B BAseries notes.
BAseries Available Principal Amounts allocable to subordinated classes of BAseries notes (such as the Class
B(2009-1) notes) may be reallocated to pay interest on senior classes of BAseries notes or to pay a portion of the master
trust II servicing fee allocable to the BAseries, subject to certain limitations. See "Sources of Funds to Pay the
Notes—Deposit and Application of Funds for the BAseries—Application of BAseries Available Principal Amounts" in the
prospectus. The nominal liquidation amount of the subordinated notes will be reduced by the amount of those
reallocations. In addition, charge-offs due to uncovered Investor Default
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Amounts allocable to the BAseries generally are reallocated from the senior classes to the subordinated classes of the
BAseries. See "Sources of Funds to Pay the Notes—Deposit and Application of Funds for the BAseries—Allocations of
Reductions from Charge-Offs" in the prospectus. The nominal liquidation amount of the subordinated notes will be reduced
by the amount of charge-offs reallocated to those subordinated notes. See "The Notes—Stated Principal Amount,
Outstanding Dollar Principal Amount and Nominal Liquidation Amount—Nominal Liquidation Amount" and "Master Trust
II—Defaulted Receivables; Rebates and Fraudulent Charges" in the prospectus.
BAseries Available Principal Amounts remaining after any reallocations described above will be applied to make
targeted deposits to the principal funding subaccounts of senior notes before being applied to make targeted deposits to
the principal funding subaccounts of the subordinated notes if the remaining amounts are not sufficient to make all
required targeted deposits.
In addition, principal payments on subordinated classes of BAseries notes are subject to the principal payment
rules described below in "—Required Subordinated Amount."
In the BAseries, payment of principal may be made on a subordinated class of notes before payment in full of each
senior class of notes only under the following circumstances:
• If after giving effect to the proposed principal payment the outstanding subordinated notes are still
sufficient to support the outstanding senior notes. See "Sources of Funds to Pay the Notes—Deposit and
Application of Funds for the BAseries—Targeted Deposits of BAseries Available Principal Amounts to the
Principal Funding Account" and "—Allocation to Principal Funding Subaccounts" in the prospectus. For
example, if a tranche of Class A notes has been repaid, this generally means that, unless other Class A
notes are issued, at least some Class B notes and Class C notes may be repaid when they are expected to be
repaid even if other tranches of Class A notes are outstanding.
• If the principal funding subaccounts for the senior classes of notes have been sufficiently prefunded as
described in "Sources of Funds to Pay the Notes—Deposit and Application of Funds for the BAseries—Targeted
Deposits of BAseries Available Principal Amounts to the Principal Funding Account—Prefunding of the
Principal Funding Account for Senior Classes" in the prospectus.
• If new tranches of subordinated notes are issued so that the subordinated notes that have reached their
expected principal payment date are no longer necessary to provide the required subordination.
• If the subordinated tranche of notes reaches its legal maturity date and there is a sale of credit card
receivables as described in "Sources of Funds to Pay the Notes—Sale of Credit Card Receivables" in the
prospectus.
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Required Subordinated Amount
In order to issue notes of a senior class of the BAseries, the required subordinated amount of subordinated notes
for those senior notes must be outstanding and available on the issuance date. Generally, the required subordinated
amount of subordinated notes for each tranche of Class A BAseries notes is equal to a stated percentage of the adjusted
outstanding dollar principal amount of that tranche of Class A notes.
The required subordinated amount of Class C notes for each tranche of Class B BAseries notes will vary depending
on its pro rata share of the Class A required subordinated amount of Class C notes for all Class A BAseries notes that
require any credit enhancement from Class B BAseries notes, and its pro rata share of the portion of the adjusted
outstanding dollar principal amount of all Class B BAseries notes that is not providing credit enhancement to the Class A
notes. For the Class B(2009-1) notes, the required subordinated amount of Class C notes, at any time, is generally equal
to the adjusted outstanding dollar principal amount of the Class B(2009-1) notes multiplied by the sum of:
(i) the Class A required subordinated amount of Class C notes for all Class A BAseries notes that require
any credit enhancement from Class B BAseries notes divided by the aggregate adjusted outstanding dollar principal
amount of all Class B BAseries notes; plus
(ii) 6.95187% multiplied by a fraction, the numerator of which is the aggregate adjusted outstanding dollar
principal amount of all Class B BAseries notes minus the required subordinated amount of Class B notes for all Class
A BAseries notes, and the denominator of which is the aggregate adjusted outstanding dollar principal amount of all
Class B BAseries notes.
Therefore, for the Class B(2009-1) notes, the required subordinated amount of Class C notes can increase if the
share of the Class B(2009-1) notes that corresponds to the Class C notes providing credit enhancement to Class A BAseries
notes increases, or if the share of the Class B(2009-1) notes that is providing credit enhancement to Class A BAseries
notes increases. Similarly, for the Class B(2009-1) notes, the required subordinated amount of Class C notes can
decrease (but will never be less than 6.95187% of its adjusted outstanding dollar principal amount) if the share of the
Class B(2009-1) notes that corresponds to the Class C notes providing credit enhancement to Class A BAseries notes
decreases, or if the share of the Class B(2009-1) notes that is providing credit enhancement to Class A BAseries notes
decreases.
For a further description of how to calculate the Class B required subordinated amount of Class C notes for the
Class B(2009-1) notes, see "The Notes—Required Subordinated Amount—BAseries" in the prospectus.
For an example of the calculations of the BAseries required subordinated amounts, see the chart titled "BAseries
Required Subordinated Amounts" in the prospectus.
Reductions in the adjusted outstanding dollar principal amount of a tranche of senior notes of the BAseries will
generally result in a reduction in the required subordinated amount for
S-14
that tranche. Additionally, a reduction in the required subordinated amount of Class C notes for a tranche of Class B
BAseries notes may occur due to:
• a decrease in the aggregate adjusted outstanding dollar principal amount of Class A BAseries notes,
• a decrease in the Class A required subordinated amount of Class B or Class C notes for outstanding tranches
of Class A BAseries notes, or
• the issuance of additional Class B BAseries notes.
However, if an early redemption event or event of default and acceleration for any tranche of Class B BAseries notes
occurs, or if on any day its usage of the required subordinated amount of Class C notes exceeds zero, the required
subordinated amount of Class C notes for that tranche of Class B notes will not decrease after that early redemption
event or event of default and acceleration or after the date on which its usage of the required subordinated amount of
Class C notes exceeds zero.
The percentages used in, or the method of calculating, the required subordinated amounts described above may
change without the consent of any noteholders if the rating agencies consent. In addition, the percentages used in, or
the method of calculating, the required subordinated amount of subordinated notes of any tranche of BAseries notes
(including other tranches in the same class) may be different than the percentages used in, or the method of calculating,
the required subordinated amounts for the Class B(2009-1) notes. In addition, if the rating agencies consent, the
issuing entity, without the consent of any noteholders, may utilize forms of credit enhancement other than subordinated
notes in order to provide senior classes of notes with the required credit enhancement.
No payment of principal will be made on any Class B BAseries note unless, following the payment, the remaining
available subordinated amount of Class B BAseries notes is at least equal to the required subordinated amount of Class B
notes for the outstanding Class A BAseries notes less any usage of the required subordinated amount of Class B notes for
the outstanding Class A BAseries notes. Similarly, no payment of principal will be made on any Class C BAseries note
unless, following the payment, the remaining available subordinated amount of Class C BAseries notes is at least equal to
the required subordinated amount of Class C notes for the outstanding Class A and Class B BAseries notes less any usage
of the required subordinated amount of Class C notes for the outstanding Class A and Class B BAseries notes. However,
there are some exceptions to this rule. See "—Subordination; Credit Enhancement" above and "The Notes—Subordination of
Interest and Principal" in the prospectus.
The Class D Certificate
The Class D certificate provides credit enhancement to the collateral certificate, and therefore the BAseries
notes, by absorbing Default Amounts allocable to Series 2001-D prior to the allocation of any of those losses to the
BAseries notes, and through reallocations of collections of principal receivables to cover deficiencies on payments of
interest on the BAseries notes and the master trust II servicing fee, as more specifically described in "Master Trust
II—The Class D Certificate" in the prospectus. Because the required Class D Investor Interest is
S-15
determined by the aggregate Adjusted Outstanding Dollar Principal Amount of BAseries notes, whenever additional BAseries
notes are issued, the required Class D Investor Interest will increase. Similarly, whenever the Adjusted Outstanding
Dollar Principal Amount of a tranche of BAseries notes decreases, due to accumulation of principal or payment of
principal amounts to noteholders, the required Class D Investor Interest will decrease.
For a more specific description of how the required Class D Investor Interest is calculated, see "The
Notes—Required Subordinated Amount—The Class D Certificate" in the prospectus. The method of calculating the required
Class D Investor Interest may change without the consent of any noteholders if the rating agencies consent.
Revolving Period
Until principal amounts are needed to be accumulated to pay the Class B(2009-1) notes, principal amounts
allocable to the Class B(2009-1) notes will either be applied to other BAseries notes which are accumulating principal or
paid to Funding as holder of the Transferor Interest. This period is commonly referred to as the revolving period.
Unless an early redemption event or event of default for the Class B(2009-1) notes occurs, the revolving period will end
eleven calendar months or less prior to the expected principal payment date. If the issuing entity reasonably expects
that less than eleven months will be required to fully accumulate principal amounts in an amount equal to the outstanding
dollar principal amount of the Class B(2009-1) notes, the end of the revolving period may be delayed. See "Sources of
Funds to Pay the Notes—Deposit and Application of Funds for the BAseries—Targeted Deposits of BAseries Available
Principal Amounts to the Principal Funding Account—Budgeted Deposits" in the prospectus.
Early Redemption of Notes
The early redemption events applicable to all notes, including the Class B(2009-1) notes, are described in "The
Notes—Early Redemption of Notes" and "The Indenture—Early Redemption Events" in the prospectus.
Optional Redemption by the Issuing Entity
Funding, so long as it is an affiliate of the servicer, has the right, but not the obligation, to direct the
issuing entity to redeem the Class B(2009-1) notes in whole but not in part on any day on or after the day on which the
nominal liquidation amount of the Class B(2009-1) notes is reduced to less than 5% of their highest outstanding dollar
principal amount. This repurchase option is referred to as a clean-up call.
The issuing entity will not redeem subordinated notes if those notes are required to provide credit enhancement
for senior classes of notes of the BAseries.
If the issuing entity is directed to redeem the Class B(2009-1) notes, it will notify the registered holders at
least thirty days prior to the redemption date. The redemption price of a note will equal 100% of the outstanding
principal amount of that note, plus accrued but unpaid interest on the note to but excluding the date of redemption.
S-16
If the issuing entity is unable to pay the redemption price in full on the redemption date, monthly payments on
the Class B(2009-1) notes will thereafter be made, subject to the principal payment rules described above under
"—Subordination; Credit Enhancement," until either the principal of and accrued interest on the Class B(2009-1) notes are
paid in full or the legal maturity date occurs, whichever is earlier. Any funds in the principal funding subaccount and
the interest funding subaccount for the Class B(2009-1) notes will be applied to make the principal and interest payments
on the notes on the redemption date.
Events of Default
The Class B(2009-1) notes are subject to certain events of default described in "The Indenture—Events of Default"
in the prospectus. For a description of the remedies upon the occurrence of an event of default, see "The
Indenture—Events of Default Remedies" and "Sources of Funds to Pay the Notes—Sale of Credit Card Receivables" in the
prospectus.
Issuing Entity Accounts
The issuing entity has established a principal funding account, an interest funding account, an accumulation
reserve account and a Class C reserve account for the benefit of the BAseries. The principal funding account, the
interest funding account, and the accumulation reserve account will have subaccounts for the Class B(2009-1) notes.
Each month, distributions on the collateral certificate and other amounts will be deposited in the issuing entity
accounts and allocated to the notes as described in the prospectus.
Security for the Notes
The Class B(2009-1) notes are secured by a shared security interest in:
• the collateral certificate;
• the collection account;
• the applicable principal funding subaccount;
• the applicable interest funding subaccount; and
• the applicable accumulation reserve subaccount.
However, the Class B(2009-1) notes are entitled to the benefits of only that portion of the assets allocated to
them under the indenture and the BAseries indenture supplement.
See "Sources of Funds to Pay the Notes—The Collateral Certificate" and "—Issuing Entity Accounts" in the
prospectus.
Limited Recourse to the Issuing Entity
The sole sources of payment for principal of or interest on the Class B(2009-1) notes are provided by:
S-17
• the portion of the Available Principal Amounts and Available Funds allocated to the BAseries and available
to the Class B(2009-1) notes after giving effect to any reallocations, payments and deposits for senior
notes, and
• funds in the applicable issuing entity accounts for the Class B(2009-1) notes.
Class B(2009-1) noteholders will have no recourse to any other assets of the issuing entity, FIA, BACCS, Funding
or any other person or entity for the payment of principal of or interest on the Class B(2009-1) notes.
However, following a sale of credit card receivables (i) due to an insolvency of Funding, (ii) due to an event of
default and acceleration for the Class B(2009-1) notes or (iii) on the legal maturity date for the Class B(2009-1) notes,
as described in "Sources of Funds to Pay the Notes—Sale of Credit Card Receivables" in the prospectus, the Class
B(2009-1) noteholders have recourse only to the proceeds of that sale.
Accumulation Reserve Account
The issuing entity will establish an accumulation reserve subaccount to cover shortfalls in investment earnings
on amounts (other than prefunded amounts) on deposit in the principal funding subaccount for the Class B(2009-1) notes.
The amount targeted to be deposited in the accumulation reserve subaccount for the
Class B(2009-1) notes is zero, unless more than one budgeted deposit is required to accumulate and pay the principal of
the Class B(2009-1) notes on its expected principal payment date, in which case, the amount targeted to be deposited is
0.5% of the outstanding dollar principal amount of the Class B(2009-1) notes, or another amount designated by the issuing
entity. See "Sources of Funds to Pay the Notes—Deposit and Application of Funds for the BAseries—Targeted Deposits to
the Accumulation Reserve Account" in the prospectus.
Shared Excess Available Funds
The BAseries will be included in "Group A." In addition to the BAseries, the issuing entity may issue other
series of notes that are included in Group A. As of the date of this prospectus supplement, the BAseries is the only
series of notes issued by the issuing entity.
To the extent that Available Funds allocated to the BAseries are available after all required applications of
those amounts as described in "Sources of Funds to Pay the Notes—Deposit and Application of Funds for the
BAseries—Application of BAseries Available Funds" in the prospectus, these unused Available Funds, referred to as
shared excess available funds, will be applied to cover shortfalls in Available Funds for other series of notes in Group
A. In addition, the BAseries may receive the benefits of shared excess available funds from other series in Group A, to
the extent Available Funds for those other series of notes are not needed for those series. See "Sources of Funds to Pay
the Notes—The Collateral Certificate," and "—Deposit and Application of Funds for the BAseries—Shared
Excess Available Funds" in the prospectus.
S-18
Stock Exchange Listing
The issuing entity will apply to list the Class B(2009-1) notes on a stock exchange in Europe. The issuing
entity cannot guarantee that the application for the listing will be accepted or that, if accepted, the listing will be
maintained. To determine whether the Class B(2009-1) notes are listed on a stock exchange you may contact the issuing
entity c/o Wilmington Trust Company, Rodney Square North, 1100 N. Market Street, Wilmington, Delaware 19890-0001,
telephone number: (302) 651-1000.
Ratings
The issuing entity will issue the Class B(2009-1) notes only if they are rated at least "A" or "A2" or its
equivalent by at least one nationally recognized rating agency.
Other tranches of Class B notes may have different rating requirements from the Class B(2009-1) notes.
A rating addresses the likelihood of the payment of interest on a note when due and the ultimate payment of
principal of that note by its legal maturity date. A rating does not address the likelihood of payment of principal of a
note on its expected principal payment date. In addition, a rating does not address the possibility of an early payment
or acceleration of a note, which could be caused by an early redemption event or an event of default. A rating is not a
recommendation to buy, sell or hold notes and may be subject to revision or withdrawal at any time by the assigning
rating agency. Each rating should be evaluated independently of any other rating.
See "Risk Factors—If the ratings of the notes are lowered or withdrawn, their market value could decrease" in the
prospectus.
Plan of Distribution
Subject to the terms and conditions of the purchase agreement for the Class B(2009-1) notes, the issuing entity
has agreed to sell to the purchasers, and the purchasers have agreed to purchase, $100,000,000 of the aggregate principal
amount of the Class B(2009-1) notes. Affiliates of FIA and Funding will purchase all of the Class B(2009-1) notes.
Proceeds to the issuing entity from the sale of the Class B(2009-1) notes are set forth on the cover page of this
prospectus supplement. Proceeds to the issuing entity from the sale of the Class B(2009-1) notes will be paid to
Funding. See "Use of Proceeds" in the prospectus. Additional offering expenses, which will be paid by Funding, are
estimated to be $400,000.
S-19
Annex I
Outstanding Series, Classes and Tranches of Notes
The information provided in this Annex I is an integral part of the prospectus supplement, and is incorporated by
reference into the prospectus supplement.
BAseries
Class A Notes
Expected
Issuance Nominal Principal Legal
Class A Date Liquidation Amount Note Interest Rate Payment Date Maturity Date
______________________________________________________________________________________________________________________________________________________________
Class A(2001-2) 7/26/01 $ 500,000,000 One Month LIBOR + 0.25% July 2011 December 2013
Class A(2001-Emerald) 8/15/01 Up to $10,317,000,000(1) — — —
Class A(2002-2) 3/27/02 $ 656,175,000 Not to exceed Three Month LIBOR + 0.35%(2) February 17, 2012 July 17, 2014
Class A(2002-3) 4/24/02 $ 750,000,000 One Month LIBOR + 0.24% April 2012 September 2014
Class A(2002-7) 7/25/02 $ 497,250,000 Not to exceed Three Month LIBOR + 0.25%(3) July 17, 2009 December 19, 2011
Class A(2002-8) 7/31/02 $ 400,000,000 Three Month LIBOR + 0.15% July 2009 December 2011
Class A(2002-11) 10/30/02 $ 490,600,000 Not to exceed Three Month LIBOR + 0.35%(4) October 19, 2009 March 19, 2012
Class A(2003-4) 4/24/03 $ 750,000,000 One Month LIBOR + 0.22% April 2010 September 2012
Class A(2003-5) 5/21/03 $ 548,200,000 Not to exceed Three Month LIBOR + 0.35%(5) April 19, 2010 September 19, 2012
Class A(2003-8) 8/5/03 $ 750,000,000 One Month LIBOR + 0.19% July 2010 December 2012
Class A(2003-10) 10/15/03 $ 500,000,000 One Month LIBOR + 0.26% October 2013 March 2016
Class A(2004-1) 2/26/04 $ 752,760,000 Not to exceed Three Month LIBOR + 0.30%(6) January 17, 2014 June 17, 2016
Class A(2004-2) 2/25/04 $ 600,000,000 One Month LIBOR + 0.15% February 2011 July 2013
Class A(2004-3) 3/17/04 $ 700,000,000 One Month LIBOR + 0.26% March 2019 August 2021
Class A(2004-5) 5/25/04 $ 1,015,240,000 Not to exceed Three Month LIBOR + 0.25%(7) May 18, 2011 October 17, 2013
Class A(2004-6) 6/17/04 $ 500,000,000 One Month LIBOR + 0.14% June 2011 November 2013
Class A(2004-7) 7/28/04 $ 900,000,000 One Month LIBOR + 0.10% July 2009 December 2011
Class A(2004-8) 9/14/04 $ 500,000,000 One Month LIBOR + 0.15% August 2011 January 2014
Class A(2004-9) 10/1/04 $ 672,980,000 Not to exceed One Month LIBOR + 0.20%(8) September 19, 2011 February 20, 2014
Class A(2004-10) 10/27/04 $ 500,000,000 One Month LIBOR + 0.08% October 2009 March 2012
Class A(2005-2) 5/19/05 $ 500,000,000 One Month LIBOR + 0.08% May 2012 October 2014
Class A(2005-3) 6/14/05 $ 600,000,000 4.10% May 2010 October 2012
Class A(2005-4) 7/7/05 $ 800,000,000 One Month LIBOR + 0.04% June 2010 November 2012
Class A(2005-6) 8/25/05 $ 500,000,000 4.50% August 2010 January 2013
Class A(2005-8) 10/12/05 $ 850,000,000 One Month LIBOR + 0.02% September 2009 February 2012
Class A(2005-9) 11/17/05 $ 1,000,000,000 One Month LIBOR + 0.04% November 2010 April 2013
Class A(2005-10) 11/29/05 $ 400,000,000 One Month LIBOR + 0.06% June 2013 November 2015
Class A(2005-11) 12/16/05 $ 500,000,000 One Month LIBOR + 0.04% December 2010 May 2013
(continued on next page)
____________________________
(1) Subject to increase.
(2) Class A(2002-2) noteholders will receive interest at 5.60% on an outstanding
euro principal amount of €750,000,000, pursuant to the terms of a currency
and interest rate swap applicable only to the Class A(2002-2) notes.
(3) Class A(2002-7) noteholders will receive interest at Three Month EURIBOR + 0.15% on an
outstanding euro principal amount of €500,000,000, pursuant to the terms of
a currency and interest rate swap applicable only to the Class A(2002-7) notes.
(4) Class A(2002-11) noteholders will receive interest at Three Month EURIBOR +
0.25% on an outstanding euro principal amount of €500,000,000, pursuant to
the terms of a currency and interest rate swap applicable only to the Class
A(2002-11) notes.
(5) Class A(2003-5) noteholders will receive interest at 4.15% on an outstanding
euro principal amount of €500,000,000, pursuant to the terms of a currency
and interest rate swap applicable only to the Class A(2003-5) notes.
(6) Class A(2004-1) noteholders will receive interest at 4.50% on an outstanding
euro principal amount of €600,000,000, pursuant to the terms of a currency
and interest rate swap applicable only to the Class A(2004-1) notes.
(7) Class A(2004-5) noteholders will receive interest at Three Month EURIBOR + 0.15%
on an outstanding euro principal amount of €850,000,000, pursuant to the
terms of a currency and interest rate swap applicable only to the Class
A(2004-5) notes.
(8) Class A(2004-9) noteholders will receive interest at One
Month EURIBOR + 0.11% on an outstanding euro principal amount of
€550,000,000, pursuant to the terms of a currency and interest rate swap
applicable only to the Class A(2004-9) notes.
A-I-1
BAseries
Class A Notes (continued from previous page)
Expected
Issuance Nominal Principal Legal
Class A Date Liquidation Amount Note Interest Rate Payment Date Maturity Date
_____________________________________________________________________________________________________________________________________________
Class A(2006-2) 3/7/06 $ 550,000,000 One Month LIBOR + 0.06% January 2013 June 2015
Class A(2006-3) 3/30/06 $ 750,000,000 One Month LIBOR + 0.02% March 2010 August 2012
Class A(2006-5) 6/9/06 $ 700,000,000 One Month LIBOR + 0.06% May 2013 October 2015
Class A(2006-6) 7/20/06 $ 2,000,000,000 One Month LIBOR + 0.03% June 2011 November 2013
Class A(2006-7) 7/28/06 $ 375,000,000 One Month LIBOR + 0.04% July 2014 December 2016
Class A(2006-8) 8/9/06 $ 725,000,000 One Month LIBOR + 0.03% December 2013 May 2016
Class A(2006-9) 8/30/06 $ 1,750,000,000 One Month LIBOR + 0.01% September 2010 February 2013
Class A(2006-10) 9/19/06 $ 750,000,000 One Month LIBOR - 0.02% September 2009 February 2012
Class A(2006-11) 9/26/06 $ 520,000,000 One Month LIBOR + 0.03% November 2013 April 2016
Class A(2006-12) 10/16/06 $ 1,000,000,000 One Month LIBOR + 0.02% October 2011 March 2014
Class A(2006-13) 11/14/06 $ 275,000,000 One Month LIBOR + 0.02% December 2013 May 2016
Class A(2006-14) 11/28/06 $ 1,350,000,000 One Month LIBOR + 0.06% November 2013 April 2016
Class A(2006-15) 12/13/06 $ 1,000,000,000 One Month LIBOR + 0.00% November 2011 April 2014
Class A(2006-16) 12/19/06 $ 1,000,000,000 4.72% December 2010 May 2013
Class A(2007-1) 1/18/07 $ 500,000,000 5.17% January 2017 June 2019
Class A(2007-2) 2/16/07 $ 2,500,000,000 One Month LIBOR +0.02% January 2011 June 2013
Class A(2007-3) 3/20/07 $ 515,000,000 One Month LIBOR + 0.02% June 2014 November 2016
Class A(2007-4) 3/20/07 $ 300,000,000 One Month LIBOR + 0.04% June 2017 November 2019
Class A(2007-5) 3/20/07 $ 396,927,017 Not to exceed One Month LIBOR + 0.03%(9) March 2014 August 2016
Class A(2007-6) 4/12/07 $ 750,000,000 One Month LIBOR + 0.06% April 2014 September 2016
Class A(2007-7) 5/16/07 $ 1,750,000,000 One Month LIBOR + 0.00% March 2010 August 2012
Class A(2007-8) 6/22/07 $ 500,000,000 5.59% June 2012 November 2014
Class A(2007-9) 7/19/07 $ 1,250,000,000 One Month LIBOR + 0.04% June 2012 November 2014
Class A(2007-10) 7/26/07 $ 750,000,000 One Month LIBOR + 0.07% July 2014 December 2016
Class A(2007-11) 8/2/07 $ 400,000,000 One Month LIBOR + 0.07% July 2017 December 2019
Class A(2007-12) 8/22/07 $ 2,000,000,000 One Month LIBOR + 0.20% August 2010 January 2013
Class A(2007-13) 10/12/07 $ 2,000,000,000 One Month LIBOR + 0.22% November 2009 April 2012
Class A(2007-14) 11/27/07 $ 1,700,000,000 One Month LIBOR + 0.30% November 2012 April 2015
Class A(2007-15) 11/27/07(10) $1,450,000,000(10) One Month LIBOR + 0.35% November 2014 April 2017
Class A(2008-1) 1/29/08(11) $2,500,000,000(11) One Month LIBOR + 0.58% November 2010 April 2013
Class A(2008-2) 3/14/08 $ 1,250,000,000 One Month LIBOR + 1.30% March 2016 August 2018
Class A(2008-4) 4/11/08 $ 510,000,000 One Month LIBOR + 1.40% April 2014 September 2016
Class A(2008-5) 5/2/08 $ 1,400,000,000 One Month LIBOR + 1.20% July 2011 December 2013
Class A(2008-6) 5/15/08 $ 500,000,000 One Month LIBOR + 1.20% May 2013 October 2015
Class A(2008-7) 6/13/08 $ 1,175,000,000 One Month LIBOR + 0.70% July 2012 December 2014
Class A(2008-8) 7/17/08 $ 1,000,000,000 One Month LIBOR + 1.15% July 2015 December 2017
Class A(2008-9) 8/5/08 $ 1,000,000,000 4.07% February 2010 July 2012
Class A(2008-10) 8/15/08 $ 500,000,000 One Month LIBOR + 1.30% August 2013 January 2016
____________________________
(9) Class A(2007-5) noteholders will receive interest at Three Month JPY-LIBOR +
0.00% on an outstanding yen principal amount of ¥46,500,000,000, pursuant
to the terms of a currency and interest rate swap applicable only to the Class
A(2007-5) notes.
(10) Of the $1,450,000,000 principal amount of the Class A(2007-15) Notes,
$1,250,000,000 was issued on November 27, 2007, and $200,000,000 was issued on
January 17, 2008.
(11) Of the $2,500,000,000 principal amount of the Class
A(2008-1) Notes, $2,000,000,000 was issued on January 29, 2008, and $500,000,000
was issued on February 8, 2008.
A-I-2
BAseries
Class B Notes
Expected
Nominal Principal Legal
Class B Issuance Date Liquidation Amount Note Interest Rate Payment Date Maturity Date
_______________________________________________________________________________________________________________________________________________________________
Class B(2003-4) 10/15/03 $ 331,650,000 Not to exceed Three Month LIBOR + 0.85%(1) September 18, 2013 February 17, 2016
Class B(2004-1) 4/1/04 $ 350,000,000 4.45% March 2014 August 2016
Class B(2004-2) 8/11/04 $ 150,000,000 One Month LIBOR + 0.39% July 2011 December 2013
Class B(2005-1) 6/22/05 $ 125,000,000 One Month LIBOR + 0.29% June 2012 November 2014
Class B(2005-2) 8/11/05 $ 200,000,000 One Month LIBOR + 0.18% July 2010 December 2012
Class B(2005-3) 11/9/05 $ 150,962,500 Not to exceed One Month LIBOR + 0.40%(2) October 19, 2015 March 19, 2018
Class B(2006-1) 3/3/06 $ 250,000,000 One Month LIBOR + 0.22% February 2013 July 2015
Class B(2006-2) 3/24/06 $ 500,000,000 Not to exceed One Month LIBOR + 0.25% March 2013 August 2015
Class B(2006-3) 8/22/06 $ 300,000,000 One Month LIBOR + 0.08% August 2009 January 2012
Class B(2006-4) 11/14/06 $ 250,000,000 One Month LIBOR + 0.08% October 2009 March 2012
Class B(2007-1) 1/26/07 $ 450,000,000 One Month LIBOR + 0.08% January 2010 June 2012
Class B(2007-2) 1/31/07 $ 250,000,000 One Month LIBOR + 0.20% January 2014 June 2016
Class B(2007-3) 3/30/07 $ 175,000,000 One Month LIBOR + 0.20% March 2014 August 2016
Class B(2007-4) 5/15/07(3) $ 425,000,000(3) One Month LIBOR + 0.09% April 2010 September 2012
Class B(2007-5) 10/11/07 $ 275,000,000 One Month LIBOR + 0.60% October 2009 March 2012
Class B(2007-6) 11/16/07 $ 150,000,000 One Month LIBOR + 0.51% November 2009 April 2012
Class B(2008-1) 1/17/08 $ 200,000,000 One Month LIBOR + 1.50% January 2013 June 2015
Class B(2008-2) 2/14/08 $ 450,000,000 One Month LIBOR + 3.00% February 2011 July 2013
Class B(2008-4) 8/15/08 $ 275,000,000 One Month LIBOR + 3.00% August 2009 January 2012
____________________________
(1) Class B(2003-4) noteholders will receive interest at 5.45% on an
outstanding sterling principal amount of £200,000,000, pursuant to the
terms of a currency and interest rate swap applicable only to the Class
B(2003-4) notes.
(2) Class B(2005-3) noteholders will receive interest at Three Month EURIBOR + 0.30%
on an outstanding euro principal amount of €125,000,000, pursuant to the
terms of a currency and interest rate swap applicable only to the Class
B(2005-3) notes.
(3) Of the $425,000,000 principal amount of the Class B(2007-4) Notes, $250,000,000
was issued on May 15, 2007, and $175,000,000 was issued on June 22, 2007.
A-I-3
BAseries
Class C Notes
Expected
Issuance Nominal Principal Legal Maturity
Class C Date Liquidation Amount Note Interest Rate Payment Date Date
_____________________________________________________________________________________________________________________________
Class C(2002-1) 2/28/02 $ 250,000,000 6.80% February 2012 July 2014
Class C(2002-3) 6/12/02 $ 200,000,000 One Month LIBOR + 1.35% May 2012 October 2014
Class C(2002-6) 10/29/02 $ 50,000,000 One Month LIBOR + 2.00% October 2012 March 2015
Class C(2002-7) 10/29/02 $ 50,000,000 6.70% October 2012 March 2015
Class C(2003-1) 2/4/03 $ 200,000,000 One Month LIBOR + 1.70% January 2010 June 2012
Class C(2003-4) 6/19/03 $ 327,560,000 Not to exceed Three Month LIBOR + 2.05(1) May)17, 2013 October 19, 2015
Class C(2003-7) 11/5/03 $ 100,000,000 One Month LIBOR + 1.35% October 2013 March 2016
Class C(2004-1) 3/16/04 $ 200,000,000 One Month LIBOR + 0.78% February 2011 July 2013
Class C(2004-2) 7/1/04 $ 275,000,000 One Month LIBOR + 0.90% June 2014 November 2016
Class C(2005-1) 6/1/05 $ 125,000,000 One Month LIBOR + 0.41% May 2010 October 2012
Class C(2005-2) 9/22/05 $ 150,000,000 One Month LIBOR + 0.35% September 2010 February 2013
Class C(2006-1) 2/17/06 $ 350,000,000 One Month LIBOR + 0.42% February 2013 July 2015
Class C(2006-2) 3/17/06 $ 225,000,000 One Month LIBOR + 0.30% March 2011 August 2013
Class C(2006-3) 5/31/06 $ 250,000,000 One Month LIBOR + 0.29% May 2011 October 2013
Class C(2006-4) 6/15/06 $ 375,000,000 One Month LIBOR + 0.23% June 2009 November 2011
Class C(2006-5) 8/15/06 $ 300,000,000 One Month LIBOR + 0.40% August 2013 January 2016
Class C(2006-6) 9/29/06 $ 250,000,000 Not to exceed One Month LIBOR +0.40% September 2013 February 2016
Class C(2006-7) 10/16/06 $ 200,000,000 One Month LIBOR + 0.23% October 2009 March 2012
Class C(2007-1) 1/26/07 $ 300,000,000 One Month LIBOR + 0.29% January 2012 June 2014
Class C(2007-2) 5/15/07 $ 150,000,000 One Month LIBOR + 0.27% April 2010 September 2012
Class C(2007-3) 8/14/07 $ 200,000,000 Not to exceed One Month LIBOR + 0.50% August 2010 January 2013
Class C(2007-4) 11/16/07 $ 225,000,000 One Month LIBOR + 1.25% November 2009 April 2012
Class C(2008-1) 1/29/08 $ 100,000,000 One Month LIBOR + 3.00% January 2011 June 2013
Class C(2008-2) 2/14/08 $ 150,000,000 One Month LIBOR + 4.00% February 2011 July 2013
Class C(2008-4) 7/10/08 $ 250,000,000 One Month LIBOR + 3.25% July 2009 December 2011
Class C(2008-5) 8/15/08 $ 275,000,000 One Month LIBOR + 4.75% October 2013 March 2016
*Class C(2009-1) 6/4/09 $ 275,000,000 One Month LIBOR + 8.25% June 2010 November 2012
____________________________
* Expected Issuance.
(1) Class C(2003-4) noteholders will receive interest at 6.10% on an outstanding sterling principal amount of £200,000,000,
pursuant to the terms of a currency and interest rate swap applicable only to the Class C(2003-4) notes.
A-I-4
Annex II
Outstanding Master Trust II Series
The information provided in this Annex II is an integral part of the prospectus supplement, and is incorporated
by reference into the prospectus supplement.
Issuance Scheduled
# Series/Class Date Investor Interest Certificate Rate Payment Date Termination Date
_________________________________________________________________________________________________________________________________________________________
1 Series 1997-B
Class A 2/27/97 $850,000,000 One Month LIBOR + .16% March 2012 August 2014
Class B 2/27/97 $75,000,000 One Month LIBOR + .35% March 2012 August 2014
Collateral 2/27/97 $75,000,000 — — —
Interest
Class D 3/2/09 $89,740,000 — — —
Certificate
2 Series 1999-J
Class A 9/23/99 $850,000,000 7.00% September 2009 February 2012
Class B 9/23/99 $75,000,000 7.40% September 2009 February 2012
Collateral 9/23/99 $75,000,000 — — —
Interest
Class D 3/2/09 $89,740,000 — — —
Certificate
3 Series 2000-E
Class A 6/1/00 $500,000,000 7.80% May 2010 October 2012
Class B 6/1/00 $45,000,000 8.15% May 2010 October 2012
6/1/00 $45,000,000 — — —
Collateral Interest
Class D 3/2/09 $51,030,000 — — —
Certificate
4 Series 2000-H
Class A 8/23/00 $595,000,000 One Month LIBOR + .25% August 2010 January 2013
Class B 8/23/00 $52,500,000 One Month LIBOR + .60% August 2010 January 2013
Collateral 8/23/00 $52,500,000 — — —
Interest
Class D 3/2/09 $62,820,000 — — —
Certificate
5 Series 2001-B
Class A 3/8/01 $637,500,000 One Month LIBOR + .26% March 2011 August 2013
Class B 3/8/01 $56,250,000 One Month LIBOR + .60% March 2011 August 2013
Collateral 3/8/01 $56,250,000 — — —
Interest
Class D 3/2/09 $67,310,000 — — —
Certificate
6 Series 2001-C
Class A 4/25/01 $675,000,000 Three Month LIBOR - .125% April 2011 September 2013
Class B 4/25/01 $60,000,000 One Month LIBOR + .62% April 2011 September 2013
4/25/01 $60,000,000 — — —
Collateral Interest
Class D 3/2/09 $70,380,000 — — —
Certificate
7 Series 2001-D
5/24/01 — — — —
Collateral Certificate(1)
Class D 3/2/09 — — — —
Certificate(2)
____________________________
(1) The collateral certificate represents the sole asset of the BA Credit Card Trust. See "Annex II: Outstanding Series,
Classes and Tranches of Notes" for a list of outstanding notes issued by the issuing entity.
(2) The Class D certificate provides credit enhancement to the collateral certificate. For a more specific description of
how the required Class D Investor Interest is calculated, see "The Notes—Required Subordinated Amount—The Class D
Certificate" in the prospectus.
A-II-1
 |
FIA Card Services, National Association
Sponsor, Servicer and Originator
BA Credit Card Funding, LLC
Transferor and Depositor
BA Credit Card Trust
Issuing Entity
BAseries
$100,000,000
Class B(2009-1) Notes
__________
PROSPECTUS SUPPLEMENT
__________
You should rely only on the information contained or incorporated by reference in this prospectus supplement and the
prospectus. We have not authorized anyone to provide you with different information.
We are not offering the notes in any state where the offer is not permitted.
We do not claim the accuracy of the information in this prospectus supplement and the prospectus as of any date other
than the dates stated on their respective covers.
Dealers will deliver a prospectus supplement and prospectus when acting as underwriters of the notes and with respect to
their unsold allotments or subscriptions. In addition, until the date which is 90 days after the date of this prospectus
supplement, all dealers selling the notes will deliver a prospectus supplement and prospectus. Such delivery obligations
may be satisfied by filing the prospectus supplement and prospectus with the Securities and Exchange Commission.