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: April 4, 1997
-----------------------------
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
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(Originator of the Trust referred to herein)
(Exact name of registrant as specified in its charter)
CHASE MANHATTAN AUTO OWNER TRUST 1996-C
-----------------------------------------
(Issuer with respect to Certificates)
Delaware 333-7575 13-2633612
--------------- ----------------- ------------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
802 Delaware Avenue, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip code)
(302) 575-5033
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(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
On 1/15/1997, Chase Manhattan Auto Owner Trust 1996-C (the "Trust") made the
distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of December 1, 1996 (the "Sale and Servicing Agreement"),
between Chase Manhattan Bank USA, National Association, as Seller and Servicer,
and the Trust, as Issuer. A copy of the Certificateholder Report for such
Distribution Date delivered pursuant to section 5.8 of the Sale and
Servicing Agreement is being filed as exhibit 20.1 to this Current Report
on Form 8-K.
On 2/18/97, Chase Manhattan Auto Owner Trust 1996-C (the "Trust") made the
distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of December 1, 1996 (the "Sale and Servicing Agreement"),
between Chase Manhattan Bank USA, National Association, as Seller and Servicer,
and the Trust, as Issuer. A copy of the Certificateholder Report for such
Distribution Date delivered pursuant to section 5.8 of the Sale and
Servicing Agreement is being filed as exhibit 20.2 to this Current Report
on Form 8-K.
On 3/17/97, Chase Manhattan Auto Owner Trust 1996-C (the "Trust") made the
distribution to Certificateholders contemplated by the Sale and Servicing
Agreement, dated as of December 1, 1996 (the "Sale and Servicing Agreement"),
between Chase Manhattan Bank USA, National Association, as Seller and Servicer,
and the Trust, as Issuer. A copy of the Certificateholder Report for such
Distribution Date delivered pursuant to section 5.8 of the Sale and
Servicing Agreement is being filed as exhibit 20.3 to this Current Report
on Form 8-K.
Item 7 (c). Exhibits
Exhibit Description
------- -----------
20.1 Monthly Certificateholder's statement with respect to the
January 15, 1997 distribution.
20.2 Monthly Certificateholder's statement with respect to the
February 18, 1997 distribution.
20.3 Monthly Certificateholder's statement with respect to the
March 17, 1997 distribution.
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Bank has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
CHASE MANHATTAN BANK USA,
NATIONAL ASSOCIATION
By: /s/ Patricia Garvey
-------------------
Name: Patricia Garvey
Title: Vice President
Date: April 4, 1997
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit Description
------- -----------
20.1 Certificateholder Report dated 1/15/1997 delivered pursuant to
Section 5.8 of the Sale and Servicing Agreement dated as of
December 1, 1996.
20.2 Certificateholder Report dated 2/18/1997 delivered pursuant to
Section 5.8 of the Sale and Servicing Agreement dated as of
December 1, 1996.
20.3 Certificateholder Report dated 3/17/1997 delivered pursuant to
Section 5.8 of the Sale and Servicing Agreement dated as of
December 1, 1996.
<TABLE>
<CAPTION>
Exhibit 20.1
------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
PERIOD 1 PAGE # 1
DETERMINATION: 10-Jan-97 Beginning 12/1/96
DISTRIBUTION: 15-Jan-97 Ending 12/31/96
CLASS A-1 5.489% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 5.750 % ASSET BACKED NOTES
CLASS A-3 5.950% ASSET BACKED NOTES
CLASS A-4 6.150% ASSET BACKED NOTES
CLASS B-1 6.250% ASSET BACKED CERTIFICATES
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $225,000,000.00 $225,000,000.00 $33,187,111.67 $960,575.00 $34,147,686.67 $191,812,888.33
A-2 Notes $239,000,000.00 $239,000,000.00 $0.00 $1,030,687.50 $1,030,687.50 $239,000,000.00
A-3 Notes $324,000,000.00 $324,000,000.00 $0.00 $1,445,850.00 $1,445,850.00 $324,000,000.00
A-4 Notes $178,000,000.00 $178,000,000.00 $0.00 $821,025.00 $821,025.00 $178,000,000.00
NOTES TOTALS $966,000,000.00 $966,000,000.00 $33,187,111.67 $4,258,137.50 $37,445,249.17 $932,812,888.33
B-1 $30,938,845.63 $30,938,845.63 $0.00 $161,139.82 $161,139.82 $30,938,845.63
CERTIFICATE
TOTALS $30,938,845.63 $30,938,845.63 $0.00 $161,139.82 $161,139.82 $30,938,845.63
TOTALS $996,938,845.63 $996,938,845.63 $33,187,111.67 $4,419,277.32 $37,606,388.99 $963,751,733.96
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C>
A-1 147.49827409 4.26922222 852.50172591
A-2 .00000000 4.31250000 1,000.00000000
A-3 .00000000 4.46250000 1,000.00000000
A-4 .00000000 4.61250000 1,000.00000000
Notes Totals 34.35518806 4.40800983 965.64481194
B-1 .00000000 5.20833333 1,000.00000000
Certficate Totals .00000000 5.20833333 1,000.00000000
TOTALS 33.28901448 4.43284695 966.71098552
</TABLE>
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 10TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
@ CHASE MANHATTAN BANKING CORPORATION
<PAGE>
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
PERIOD 1 PAGE # 2
DETERMINATION: 10-Jan-97 Beginning 1-Dec-96
DISTRIBUTION: 15-Jan-97 Ending 31-Dec-96
per $1000
Section 5.8 (iii) Servicing Fee $830,782.37 0.833333333
Section 5.8 (iv) Administration Fee $1,000.00 0.001003076
Section 5.8 (vi) Pool Balance at the end of
the Collection Period $963,751,733.96
Section 5.8 (vii) Repurchase Amounts for
Repurchased Receivables
By Seller $0.00
By Servicer $0.00
TOTAL $0.00
Section 5.8 (viii) Realized Losses for Collection
Period $0.00
Section 5.8 (ix) Reserve Account Balance
after Disbursement $18,194,628.69
Section 5.8 (x) Specified Reserve Account
Balance $28,912,552.02
Section 5.8 (xi) Total Distribution Amount $41,652,422.64
Servicing Fee $830,782.37
Administrative Fee $1,000.00
Noteholders' Distribution
Amount $37,445,249.17
Certifcateholders'
Distribution $161,139.82
Reserve Account
Transfer Amount $3,214,251.28
<TABLE>
<CAPTION>
Section 5.8 (xii) Noteholders' Distributable Amount
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
<S> <C> <C> <C> <C> <C> <C>
A-1 $33,187,111.67 $960,575.00 $34,147,686.67 147.49827409 4.269222222 151.7674963
A-2 $0.00 $1,030,687.50 $1,030,687.50 .00000000 4.3125 4.3125
A-3 $0.00 $1,445,850.00 $1,445,850.00 .00000000 4.4625 4.4625
A-4 $0.00 $821,025.00 $821,025.00 .00000000 4.6125 4.6125
Total $33,187,111.67 $4,258,137.50 $37,445,249.17 34.35518806 4.408009834 38.7631979
Section 5.8 (xiii) Certificateholders' Distributable Amount
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
<S> <C> <C> <C> <C> <C> <C>
B-1 $0.00 $161,139.82 $161,139.82 $0.00 $5.21 $5.21
Total $0.00 $161,139.82 $161,139.82 $0.00 $5.21 $5.21
</TABLE>
Section 5.8 (xiv) Reserve Account Transfer Amount $3,214,251.28
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
PERIOD 2 PAGE # 1
DETERMINATION: 10-Feb-97 Beginning 1/1/97
DISTRIBUTION: 18-Feb-97 Ending 1/31/97
CLASS A-1 5.489% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 5.750 % ASSET BACKED NOTES
CLASS A-3 5.950% ASSET BACKED NOTES
CLASS A-4 6.150% ASSET BACKED NOTES
CLASS B-1 6.250% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $225,000,000.00 $191,812,888.33 $30,693,086.37 $994,368.67 $31,687,455.04 $161,119,801.96
A-2 Notes $239,000,000.00 $239,000,000.00 $0.00 $1,145,208.33 $1,145,208.33 $239,000,000.00
A-3 Notes $324,000,000.00 $324,000,000.00 $0.00 $1,606,500.00 $1,606,500.00 $324,000,000.00
A-4 Notes $178,000,000.00 $178,000,000.00 $0.00 $912,250.00 $912,250.00 $178,000,000.00
NOTES TOTALS $966,000,000.00 $932,812,888.33 $30,693,086.37 $4,658,327.00 $35,351,413.37 $902,119,801.96
B-1 $30,938,845.63 $30,938,845.63 $0.00 $161,139.82 $161,139.82 $30,938,845.63
CERTIFICATE
TOTALS $30,938,845.63 $30,938,845.63 $0.00 $161,139.82 $161,139.82 $30,938,845.63
TOTALS $996,938,845.63 $963,751,733.96 $30,693,086.37 $4,819,466.82 $35,512,553.19 $933,058,647.59
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C>
A-1 136.41371720 4.41941631 716.08800871
A-2 0.00000000 4.79166665 1,000.00000000
A-3 0.00000000 4.95833333 1,000.00000000
A-4 0.00000000 5.12500000 1,000.00000000
Notes Totals 31.77338134 4.82228468 933.87143060
B-1 0.00000000 5.20833330 1,000.00000000
Certficate Totals 0.00000000 5.20833330 1,000.00000000
TOTALS 30.78733114 4.83426525 935.92365437
</TABLE>
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 10TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
@ CHASE MANHATTAN BANKING CORPORATION
<PAGE>
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
PERIOD 2 PAGE # 2
DETERMINATION: 10-Feb-97 Beginning 1/1/97
DISTRIBUTION: 18-Feb-97 Ending 1/31/97
per $1000
---------
Section 5.8 (iii) Servicing Fee $803,126.44 .8055924829
Section 5.8 (iv) Administration Fee $1,000.00 .001003076
Section 5.8 (vi) Pool Balance at the end of
the Collection Period $933,058,647.59
Section 5.8 (vii) Repurchase Amounts for
Repurchased Receivables
By Seller $0.00
By Servicer $0.00
TOTAL $0.00
Section 5.8 (viii) Realized Losses for Collection
Period $0.00
Section 5.8 (ix) Reserve Account Balance
after Disbursement $20,526,207.92
Section 5.8 (x) Specified Reserve Account
Balance $27,991,759.43
Section 5.8 (xi) Total Distribution Amount $38,573,523.35
Servicing Fee $803,126.44
Administrative Fee $1,000.00
Noteholders' Distribution
Amount $35,351,413.37
Certifcateholders'
Distribution $161,139.82
Reserve Account
Transfer Amount $2,256,843.72
<TABLE>
<CAPTION>
Section 5.8 (xii) Noteholders' Distributable Amount
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
<S> <C> <C> <C> <C> <C> <C>
A-1 $30,693,086.37 $994,368.37 $31,687,455.04 136.41371720 4.41941631 140.83313351
A-2 $0.00 $1,145,208.33 $1,145,208.33 .00000000 4.79166665 4.79166665
A-3 $0.00 $1,606,500.00 $1,606,500.00 .00000000 4.95833333 4.95833333
A-4 $0.00 $912,250.00 $912,250.00 .00000000 5.12500000 5.12500000
Total $30,693,086.37 $4,658,327.50 $35,351,413.37 31.77338134 4.82228468 36.59566601
Section 5.8 (xiii) Certificateholders' Distributable Amount
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
<S> <C> <C> <C> <C> <C> <C>
B-1 $0.00 $161,139.82 $161,139.82 0.00000000 5.2083330 5.20833330
Total $0.00 $161,139.82 $161,139.82 0.00000000 5.2083330 5.20833330
</TABLE>
Section 5.8 (xiv) Reserve Account Transfer Amount $2,256,843.72
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
PERIOD 3 PAGE # 1
DETERMINATION: 10-Mar-97 Beginning 2/1/97
DISTRIBUTION: 17-Mar-97 Ending 2/28/97
CLASS A-1 5.489% MONEY MARKET ASSET BACKED NOTES
CLASS A-2 5.750 % ASSET BACKED NOTES
CLASS A-3 5.950% ASSET BACKED NOTES
CLASS A-4 6.150% ASSET BACKED NOTES
CLASS B-1 6.250% ASSET BACKED CERTIFICATES
<TABLE>
<CAPTION>
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $225,000,000.00 $161,119,801.96 $26,695,625.70 $663,289.94 $27,358,915.64 $134,424,176.26
A-2 Notes $239,000,000.00 $239,000,000.00 $0.00 $1,145,208.33 $1,145,208.33 $239,000,000.00
A-3 Notes $324,000,000.00 $324,000,000.00 $0.00 $1,606,500.00 $1,605,500.00 $324,000,000.00
A-4 Notes $178,000,000.00 $178,000,000.00 $0.00 $912,250.00 $912,250.00 $178,000,000.00
NOTES TOTALS $966,000,000.00 $902,119,801.96 $26,695,625.70 $4,327,248.27 $31,022,873.97 $875,424,176.26
B-1 $30,938,845.63 $30,938,845.63 $0.00 $161,139.82 $161,139.82 $30,938,845.63
CERTIFICATE
TOTALS $30,938,845.63 $30,938,845.63 $0.00 $161,139.82 $161,139.82 $30,938,845.63
TOTALS $996,938,845.63 $933,058,647.59 $26,695,625.70 $4,488,388.09 $31,184,013.79 $906,363,021.89
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
<S> <C> <C> <C>
A-1 118.64722533 2.94795529 597.44078338
A-2 0.00000000 4.79166665 1,000.00000000
A-3 0.00000000 4.95833333 1,000.00000000
A-4 0.00000000 5.12500000 1,000.00000000
Notes Totals 27.63522329 4.47955307 906.23620731
B-1 0.00000000 5.20833330 1,000.00000000
Certficate Totals 0.00000000 5.20833330 1,000.00000000
TOTALS 26.77759606 4.50216993 909.14605832
</TABLE>
IF THERE ARE ANY QUESTIONS OR COMMENTS,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW
KIM COSTA
THE CHASE MANHATTAN BANK - ASPG
450 WEST 33RD STREET, 10TH FLOOR
NEW YORK, NEW YORK 10001
(212) 946-3247
@ CHASE MANHATTAN BANKING CORPORATION
<PAGE>
SERIES 1996-C
STATEMENT TO CERTIFICATEHOLDERS
PERIOD 3 PAGE # 2
DETERMINATION: 10-Mar-97 Beginning 2/1/97
DISTRIBUTION: 17-Mar-97 Ending 2/28/97
per $1000
---------
Section 5.8 (iii) Servicing Fee $777,548.87 .7799363786
Section 5.8 (iv) Administration Fee $1,000.00 .001003076
Section 5.8 (vi) Pool Balance at the end of
the Collection Period $906,363,021.89
Section 5.8 (vii) Repurchase Amounts for
Repurchased Receivables
By Seller $0.00
By Servicer $0.00
TOTAL $0.00
Section 5.8 (viii) Realized Losses for Collection
Period $0.00
Section 5.8 (ix) Reserve Account Balance
after Disbursement $22,283,512.02
Section 5.8 (x) Specified Reserve Account
Balance $27,190,890.66
Section 5.8 (xi) Total Distribution Amount $33,644,876.20
Servicing Fee $31,022,873.97
Administrative Fee $161,139.82
Noteholders' Distribution
Amount $1,682,313.54
Certifcateholders'
Distribution $161,139.82
Reserve Account
Transfer Amount $1,682,313.54
<TABLE>
<CAPTION>
Section 5.8 (xii) Noteholders' Distributable Amount
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
<S> <C> <C> <C> <C> <C> <C>
A-1 $26,695,625.70 $663,289.94 $27,358,915.64 118.64722533 2.94795529 121.59518062
A-2 $0.00 $1,145,208.33 $1,145,208.33 .00000000 4.79166665 4.79166665
A-3 $0.00 $1,606,500.00 $1,606,500.00 .00000000 4.95833333 4.95833333
A-4 $0.00 $912,250.00 $912,250.00 .00000000 5.12500000 5.12500000
Total $26,695,625.70 $4,327,248.27 $31,022,873.97 27.63522329 4.47955307 32.11477637
Section 5.8 (xiii) Certificateholders' Distributable Amount
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
<S> <C> <C> <C> <C> <C> <C>
B-1 $0.00 $161,139.82 $161,139.82 0.00000000 5.2083330 5.20833330
Total $0.00 $161,139.82 $161,139.82 0.00000000 5.2083330 5.20833330
</TABLE>
Section 5.8 (xiv) Reserve Account Transfer Amount $1,682,313.54
