from 8-K
1 page
Trans-World Insurance Company Classnotes, Inc. Auction Rate Asset Backed Notes Terms Agreement Dated: March 19, 1997 To: Trans-World Insurance Company Classnotes, Inc. Re: Underwriting Agreement Dated March 19, 1997 Issuer: Classnotes Trust 1997-I Series Designation: Series 1997-1 Terms of the Notes: Final Original Maturity Principal Interest Price to Class Date Amount Rate Underwriter A-1 April 1, $93,000,000 5.40% 99.75% 2016 A-2 April 1, $93,000,000 5.40% 99.75% 2017 A-3 April 1, $95,000,000 5.50% 99.75% 2018 - Collateral: The Student Loans to Be Included in the Collateral Are as Described in Schedule a to the Sale and Servicing Agreement. Credit Support: Note Surety Bond Issued by Ambac Indemnity Corporation. Initial Note Distribution Dates: March 27, 1997 for the Class A-1 Notes March 27, 1997 for the Class A-2 Notes April 2, 1997 for the Class A-3 Notes Note Rating: "Aaa" by Standard and Poor's Corporation and "Aaa" by Moody's Investors Service, Inc. Form of Notes: Book Entry <page> Closing Date: March 21, 1997 Information Provided by the Underwriter in the Prospectus Supplement: The Statements Set Forth Under the Heading "Plan of Distribution." Additional Terms, if Any, Not in Master Indenture: Smith Barney Inc. By: Name: Title: Trans-World Insurance Company By: Name: Morton Dear Title: Executive Vice President Classnotes, Inc. By: Name: Morton Dear Title: Executive Vice President Classnotes Trust 1997-I By: The York Bank and Trust Company, as Eligible Lender Trustee By: Name: Title: The Money Store Inc. By: Name: Title
