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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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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 15, 1999
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KEY CONSUMER ACCEPTANCE CORPORATION
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(Exact Name of Registrant as Specified in its Charter)
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Delaware 333-38211 52-1995940
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<S> <C> <C>
(STATE OR OTHER JURISDICTION OF INCORPORATION) (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER IDENTIFICATION NO.)
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c/o Key Bank USA, National Association, as Servicer, 4910 Tiedeman Road,
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Brooklyn, Ohio 44144, Attn: Yvonne M. Etling
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(Address of Principal Executive Offices)
Registrant's Telephone Number, Including Area Code: (216) 813-6501
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Exhibit Index on Page 4
Page 1 of 7 pages
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Item 5. OTHER EVENTS
On October 15, 1999, Key Auto Finance Trust 1997-2 (the "Trust") made its
regular monthly distribution of funds to holders of the Trust's Asset Backed
Notes and Certificates and distributed the Noteholders and Certificateholders
Statement, filed herewith as an Exhibit to this Form 8-K, to Noteholders and
Certificateholders of record.
The Trust is hereby filing the Noteholders and Certificateholders Statement
reflecting the Trust's activities for the period ending September 30, 1999,
including a statistical summary of the delinquency and default characteristics
of the Trust's auto loan portfolio as of such date.
Item 7. EXHIBITS
Exhibit 20 - Noteholders and Certificateholders Statement
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SIGNATURE
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.
Date: October 22, 1999
Key Consumer Acceptance Corporation
By: /S/ Craig Platt
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Craig Platt
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EXHIBIT INDEX
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EXHIBIT
Page
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20 - Noteholders and Certificateholders Statement for October 15, 1999. 5-7
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Exhibit 20
KEY AUTO FINANCE TRUST 1997-2
MONTHLY STATEMENT TO NOTEHOLDERS AND CERTIFICATEHOLDERS
Servicer: Key Bank USA, N.A.
Indenture Trustee: Bankers Trust Company
Owner Trustee: Chase Manhattan Bank Delaware
Collection Period: September 1, 1999 to September 30, 1999
Distribution Date: October 15, 1999
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<CAPTION>
Statement for Class A, Class B and Class C Noteholders and Certificateholders Per $1,000 of Original
Pursuant to Section 5.6 of the Sale and Servicing Agreement Class A/B/C Note Amount
or Certificate Amount
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(i) Principal Distribution
Class A-1 Note Amount (0.00) 0.0000000
Class A-2 Note Amount 0.00 0.0000000
Class A-3 Note Amount 0.00 0.0000000
Class A-4 Note Amount 16,035,355.64 108.3469976
Class A-5 Note Amount 0.00 0.0000000
Class A-P Note Amount 3,445,203.59 27.5616287
Class B Note Amount 1,791,026.04 28.1519340
Class C Note Amount 684,091.99 28.1519338
Certificates Amount 357,002.88 20.6598890
(ii) Interest Distribution
Class A-1 Note Amount 0.00 0.0000000
Class A-2 Note Amount 0.00 0.0000000
Class A-3 Note Amount 0.00 0.0000000
Class A-4 Note Amount 610,521.14 4.1251429
Class A-5 Note Amount 790,625.00 5.2083333
Class A-P Note Amount 298,319.04 2.3865523
Class B Note Amount 158,866.90 2.4971219
Class C Note Amount 64,051.18 2.6358509
Certificates Amount 71,134.22 4.1165634
(iii) Total Pool Balance of Notes and Certificates (end of Collection Period) 359,244,316.52
(iv) Class A-1 Notes Balance (end of Collection Period) 0.00
Class A-1 Pool Factor (end of Collection Period) 0.0000000
Class A-2 Notes Balance (end of Collection Period) 0.00
Class A-2 Pool Factor (end of Collection Period) 0.0000000
Class A-3 Notes Balance (end of Collection Period) 0.00
Class A-3 Pool Factor (end of Collection Period) 0.0000000
Class A-4 Notes Balance (end of Collection Period) 103,090,721.04
Class A-4 Pool Factor (end of Collection Period) 0.6965589
Class A-5 Notes Balance (end of Collection Period) 151,800,000.00
Class A-5 Pool Factor (end of Collection Period) 1.0000000
Class A-P Notes Balance (end of Collection Period) 54,763,389.73
Class A-P Pool Factor (end of Collection Period) 0.4381071
Class B Notes Balance (end of Collection Period) 28,469,335.25
Class B Pool Factor (end of Collection Period) 0.4474903
Class C Notes Balance (end of Collection Period) 10,874,015.20
Class C Pool Factor (end of Collection Period) 0.4474903
Certificates Balance (end of Collection Period) 10,246,855.30
Certificates Pool Factor (end of Collection Period) 0.5929893
(v) Basic Servicing Fee 317,964.16 0.3039912
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KEY AUTO FINANCE TRUST 1997-2
MONTHLY STATEMENT TO NOTEHOLDERS AND CERTIFICATEHOLDERS
Servicer: Key Bank USA, N.A.
Indenture Trustee: Bankers Trust Company
Owner Trustee: Chase Manhattan Bank Delaware
Collection Period: September 1, 1999 to September 30, 1999
Distribution Date: October 15, 1999
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<CAPTION>
Statement for Class A, Class B and Class C Noteholders and Certificateholders Per $1,000 of Original
Pursuant to Section 5.6 of the Sale and Servicing Agreement Class A/B/C Note Amount
or Certificate Amount
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<S> <C> <C>
(vi) Aggregate Realized Losses 1,425,676.17
Aggregate Net Losses 935,160.63
Cummulative Net Losses for all periods 29,538,555.55
(vii) Reserve Account Balance after Giving Effect to Payments 16,200,000.00
Made on Distribution Date
Specified Reserve Account Balance after Giving Effect to Payments 16,200,000.00
Made on Distribution Date
Distribution to Seller from Reserve Account 0.00
Draws on Reserve Account (0.00)
Deposits to Reserve Account 0.00
Class C Reserve Account Balance after Giving Effect to Payments 2,694,332.37
Made on Distribution Date
Specified Class C Reserve Account Balance after Giving Effect to 2,694,332.37
Payments Made on Distribution Date
Distribution to Seller from Class C Reserve Account 167,345.10
Draws on Class C Reserve Account 0.00
Deposits to Class C Reserve Account 0.00
(viii) Class A-1 Notes Interest Carryover Shortfall 0.00 0.0000000
Class A-2 Notes Interest Carryover Shortfall 0.00 0.0000000
Class A-3 Notes Interest Carryover Shortfall 0.00 0.0000000
Class A-4 Notes Interest Carryover Shortfall 0.00 0.0000000
Class A-5 Notes Interest Carryover Shortfall 0.00 0.0000000
Class A-P Notes Interest Carryover Shortfall 0.00 0.0000000
Class B Notes Interest Carryover Shortfall 0.00 0.0000000
Class C Notes Interest Carryover Shortfall 0.00 0.0000000
Certificates Interest Carryover Shortfall 0.00 0.0000000
Class A-1 Notes Principal Carryover Shortfall 0.00 0.0000000
Class A-2 Notes Principal Carryover Shortfall 0.00 0.0000000
Class A-3 Notes Principal Carryover Shortfall 0.00 0.0000000
Class A-4 Notes Principal Carryover Shortfall 0.00 0.0000000
Class A-5 Notes Principal Carryover Shortfall 0.00 0.0000000
Class A-P Notes Principal Carryover Shortfall 0.00 0.0000000
Class B Notes Principal Carryover Shortfall 0.00 0.0000000
Class C Notes Principal Carryover Shortfall 0.00 0.0000000
Certificates Principal Carryover Shortfall 0.00 0.0000000
(ix) Additional Principal Distributable Amount (0.00)
(x) Aggregate Purchase Amount of Receivables Repurchased by the 0.00
Seller or purchased by Servicer
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Page 2
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KEY AUTO FINANCE TRUST 1997-2
MONTHLY STATEMENT TO NOTEHOLDERS AND CERTIFICATEHOLDERS
Servicer: Key Bank USA, N.A.
Indenture Trustee: Bankers Trust Company
Owner Trustee: Chase Manhattan Bank Delaware
Collection Period: September 1, 1999 to September 30, 1999
Distribution Date: October 15, 1999
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<CAPTION>
Statement for Class A, Class B and Class C Noteholders and Certificateholders Per $1,000 of Original
Pursuant to Section 5.6 of the Sale and Servicing Agreement Class A/B/C Note Amount
or Certificate Amount
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<S> <C> <C> <C>
(xi) Delinquent Contracts
Number Balance
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30-59 Days 1754 13,412,728.45
60-89 Days 505 3,724,098.92
90 Days or More 396 2,982,734.62
Financed Vehicles Repossessed but not yet charged off 62 713,772.05
ADDITIONAL INFORMATION REQUESTED BY BLOOMBERG:
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Weighted Average Coupon of Remaining Portfolio (WAC) 0.1152279
Weighted Average Remaining Term of Remaining Portfolio 29.6985726
Net Loss Ratio as of Each Collection Period
(i) Second Preceding Collection Period 0.0056720
(ii) Preceding Collection Period 0.0076909
(iii) Current Collection Period 0.0075742
(iv) Three Month Average 0.0069790
Ending Portfolio Balance 359,244,316.52
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