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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 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): March 30, 2000
SSB VEHICLE SECURITIES INC., (as depositor
under the Sale and Servicing Agreement, dated as
of March 1, 2000)
SSB VEHICLE SECURITIES INC.
(Exact name of registrant as specified in its charter)
<TABLE>
<CAPTION>
<S> <C> <C>
Delaware 333-63005 N/A
(State or Other Jurisdiction of (Commission (I.R.S. Employer
Incorporation) File Number) Identification No.)
</TABLE>
390 Greenwich Street
New York, New York 10013
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number, including area code (212) 816-6000
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<PAGE>
Item 5. Other Events.
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Description of the Final Receivables*
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On March 30, 2000, SSB Vehicle Securities Inc. (the "Depositor") entered
into a Sale and Servicing Agreement dated as of March 1, 2000 (the "Sale and
Servicing Agreement"), by and among Huntington Auto Trust 2000-A, as issuer
(the "Issuer"), the Depositor, as depositor, The Huntington National Bank
("Huntington"), as seller, servicer, administrator and custodian and The Chase
Manhattan Bank, as indenture trustee (the "Trustee"), providing for the
issuance of the Issuer's Asset-Backed Notes and Asset-Backed Certificates.
___________________
* Capitalized terms used and not otherwise defined herein
shall have the meanings assigned to them in the Prospectus
dated September 21, 1999 and the Prospectus Supplement dated
March 24, 2000, of SSB Vehicle Securities Inc., relating to
Huntington Auto Trust 2000-A.
The Issuer acquired certain Receivables (the "Initial Receivables") with
an aggregate principal balance of $391,089,167.76 (the "Initial Pool Balance")
as of the close of business on February 29, 2000 (the "Initial Cutoff Date").
The Issuer also acquired certain additional Receivables (the "Subsequent
Receivables") with an aggregate principal balance of $108,911,472.13 as of the
close of business on March 27, 2000 (the "Subsequent Cutoff Date").
The aggregate composition and distribution by APR, geographic location,
remaining term, and remaining principal balance of the Receivables as of the
Initial Cutoff Date in the case of the Initial Receivables and as of the
Subsequent Cutoff Date in the case of the Subsequent Receivables are set forth
in the following tables.
<PAGE>
Composition of Final Receivables Pool
Aggregate principal balance............. $500,000,639.89
Number of Contracts..................... 36,835
Average principal balance outstanding... $13,574.06
Average original amount financed........ $16,169.67
Original amount financed (range)........ $1,603.50 to $49,990.26
Weighted average APR.................... 9.73%
APR (range)............................. 8.00% to 20.24%
Weighted average original term.......... 60.9 mos.
Original term (range)................... 12 to 84 mos.
Weighted average remaining term......... 53.7 mos.
Remaining term (range).................. 4 to 72 mos.
<PAGE>
Distribution of the Receivables by APR
<TABLE>
<CAPTION>
Percentage of
Aggregate Aggregate
Number of Remaining Remaining
APR Range Receivables Principal Balance Principal Balance(1)
- --------- ----------- ----------------- --------------------
<S> <C> <C> <C>
8.000 - 8.000.......... 2,845 $31,351,611.27 6.27%
8.001 - 8.500.......... 18,350 232,503,667.78 46.50
8.501 - 9.000.......... 1,486 25,973,506.30 5.19
9.001 - 9.500.......... 1,457 25,220,931.22 5.04
9.501 - 10.000.......... 1,994 33,807,063.27 6.76
10.001 - 10.500.......... 1,218 20,247,332.70 4.05
10.501 - 11.000.......... 1,585 25,143,083.06 5.03
11.001 - 11.500.......... 1,165 18,128,391.44 3.63
11.501 - 12.000.......... 1,257 18,013,886.16 3.60
12.001 - 12.500.......... 824 11,233,324.47 2.25
12.501 - 13.000.......... 1,104 14,967,271.01 2.99
13.001 - 13.500.......... 704 9,082,495.42 1.82
13.501 - 14.000.......... 564 6,421,081.68 1.28
14.001 - 14.500.......... 333 4,030,702.29 0.81
14.501 - 15.000.......... 468 6,185,436.72 1.24
15.001 - 15.500.......... 491 6,719,402.01 1.34
15.501 - 16.000.......... 440 5,574,794.93 1.11
16.001 - 16.500.......... 206 2,151,424.03 0.43
16.501 - 17.000.......... 134 1,456,240.28 0.29
17.001 - 17.500.......... 81 817,258.80 0.16
17.501 - 18.000.......... 64 521,907.46 0.10
18.001 - 18.500.......... 43 290,052.45 0.06
18.501 - 19.000.......... 14 116,529.07 0.02
19.001 - 19.500.......... 4 20,268.19 0.00
19.501 - 20.000.......... 3 18,006.70 0.00
20.001 - 20.240.......... 1 4,971.18 0.00
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Totals........... 36,835 $500,000,639.89 100.00%
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</TABLE>
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(1) Percentages may not add to 100% because of rounding.
<PAGE>
Distribution of the Receivables by Geographic Location(1)
<TABLE>
<CAPTION>
Percentage of
Aggregate
Numbef of Remaining Remaining
State Receivables Principal Balance Principal Balance(2)
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<S> <C> <C> <C>
Florida................................................. 2,159 $ 36,647,756.75 7.33%
Indiana................................................. 4,537 61,252,307.25 12.25
Kentucky................................................ 2,837 41,864,569.65 8.37
Michigan................................................ 4,848 73,675,726.59 14.74
Ohio.................................................... 18,474 233,668,589.42 46.73
West Virginia........................................... 3,980 52,891,690.23 10.58
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Totals....................................... 36,835 $500,000,639.89 100.00%
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</TABLE>
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(1) Based on the location of origination. In some instances, a Dealer may have
originated a Receivable with an Obligor who resides in a different state than
the one in which the origination occurred.
(2) Percentages may not add to 100% because of rounding.
Distribution of the Receivables by Remaining Term to Scheduled Maturity
<TABLE>
<CAPTION>
Percentage of
Aggregate Aggregate
Number of Remaining Remaining
Remaining Term to Scheduled Maturity Receivables Principal Balance Principal Balance(1)
- ------------------------------------ ----------- ----------------- --------------------
<S> <C> <C> <C>
4 to 6 months............................. 190 $ 337,844.48 0.07%
7 to 12 months............................ 650 1,954,527.35 0.39
13 to 18 months........................... 1,201 5,582,095.46 1.12
19 to 24 months........................... 1,247 8,299,799.71 1.66
25 to 30 months........................... 1,555 12,657,859.39 2.53
31 to 36 months........................... 2,423 22,450,921.96 4.49
37 to 42 months........................... 3,784 41,569,773.44 8.31
43 to 48 months........................... 4,345 52,681,960.22 10.54
49 to 54 months........................... 5,180 71,983,768.53 14.40
55 to 60 months........................... 10,315 162,009,011.53 32.40
61 to 66 months........................... 4,467 83,926,717.91 16.79
67 to 72 months........................... 1,478 36,546,359.91 7.31
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Totals........................... 36,835 $500,000,639.89 100.00%
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</TABLE>
________________________
(1) Percentages may not add to 100% because of rounding.
<PAGE>
Distribution by Remaining Principal Balance of the Receivables
<TABLE>
<CAPTION>
Percentage of
Aggregate Aggregate
Number of Remaining Remaining
Range of Remaining Principal Balances Receivables Principal Balance Principal Balance(1)
- ------------------------------------- ----------- ----------------- --------------------
<S> <C> <C> <C>
$ 0.00 - 2,500.00......................... 563 $ 1,009,161.63 0.20%
$ 2,500.01 - 5,000.00......................... 2,035 7,941,203.30 1.59
$ 5,000.01 - 7,500.00......................... 3,699 23,386,629.50 4.68
$ 7,500.01 - 10,000.00......................... 5,447 47,914,709.65 9.58
$10,000.01 - 12,500.00......................... 6,182 69,539,674.63 13.91
$12,500.01 - 15,000.00......................... 5,638 77,324,660.20 15.46
$15,000.01 - 17,500.00......................... 4,465 72,283,681.73 14.46
$17,500.01 - 20,000.00......................... 3,129 58,378,633.59 11.68
$20,000.01 - 22,500.00......................... 2,136 45,246,162.74 9.05
$22,500.01 - 25,000.00......................... 1,359 32,150,876.67 6.43
$25,000.01 - 27,500.00......................... 860 22,480,346.12 4.50
$27,500.01 - 30,000.00......................... 520 14,883,571.17 2.98
$30,000.01 - 32,500.00......................... 348 10,828,765.18 2.17
$32,500.01 - 35,000.00......................... 195 6,572,049.88 1.31
$35,000.01 - 37,500.00......................... 121 4,366,455.41 0.87
$37,500.01 - 40,000.00......................... 54 2,086,498.00 0.42
$40,000.01 - 42,500.00......................... 46 1,895,948.54 0.38
$42,500.01 - 45,500.00......................... 21 910,701.06 0.18
$45,000.01 - 47,500.00......................... 10 460,638.95 0.09
$47,500.01 - 49,310.00......................... 7 340,271.94 0.07
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Total 36,835 $500,000,639.89 100.00%
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</TABLE>
________________________
(1) Percentages may not add to 100% because of rounding
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SSB VEHICLE SECURITIES INC.
By: /s/ Ted Yarbrough
-----------------------------
Name: Ted Yarbrough
Title: Senior Vice-President
Dated: March 30, 2000
