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Previous: CHASE MANHATTAN BANK /NY/, 8-K, 1998-09-22 |
Next: BIOGAN INTERNATIONAL INC, 10QSB, 1998-09-22 |
<PAGE>
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: September 15, 1998
CHASE CREDIT CARD MASTER TRUST
(formerly known as "Chemical Master Credit Card Trust I"),
Series 1996-4, Series 1997-1, Series 1997-2, Series 1997-4,
Series 1997-5, Series 1998-2, Series 1998-3 and Series 1998-4
-----------------------------------------------------------
(Issuer of Securities)
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
(formerly known as "The Chase Manhattan Bank (USA)")
(Sponsor of the Trust)
(Exact name of registrant as specified in its charter)
United States 33-40006 22-2382028
--------------- ------------- ---------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
802 Delaware Avenue, Wilmington, Delaware 19801
----------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5050
<PAGE>
Item 5. Other Events.
-------------
On or about September 15, 1998 Monthly Interest as defined in the Pooling
and Servicing Agreement dated as of October 19, 1995 (the "Agreement")
between The Chase Manhattan Bank (formerly known as 'Chemical Bank') and
The Bank of New York, as Trustee (the "Trustee"), was distributed to
holders ("Certificateholders") of participations in the Chase Credit Card
Master Trust (formerly known as "Chemical Master Credit Card Trust I") for
Series 1996-4, Series 1997-1, Series 1997-2, Series 1997-4, Series 1997-5,
Series 1998-2 and Series 1998-3 in accordance with the Agreement. Copies of
the applicable Monthly Reports, as defined in the Agreement, have been
furnished to Certificateholders in accordance with the Agreement. Copies of
those Monthly Reports are being filed as Exhibit 20.1 to this Current Report
on Form 8-K.
Item 7(c). Exhibits
--------
Exhibit No. Description
----------- -----------
20.1 Monthly Reports with respect to the
September 15, 1998 distribution
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
THE CHASE MANHATTAN BANK,
AS SERVICER
By: /s/Patrick Margey
---------------------
Name: Patrick Margey
Title: Vice President
Dated: September 21, 1998
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
---------- -----------
20.1 Monthly Reports with respect to the
September 15, 1998 distribution
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-4
Distribution Date 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- -----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 6,507,988.28 563,005.07 757,100.32 7,828,093.67
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 159,972,530.11 13,330,968.00 17,139,990.12 190,443,488.23
(iv) Collections of Finance Charge Receivables 21,592,613.70 1,799,374.19 2,313,504.61 25,705,492.50
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 1,400,000,000.00 116,666,000.00 150,000,666.67 1,666,666,666.67
Adjusted Interest 1,400,000,000.00 116,666,000.00 150,000,666.67 1,666,666,666.67
Series
Floating Investor Percentage 10.43% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 10.43% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 9,100,278.43 758,352.20 975,034.17 10,833,664.79
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 1,166,666.67 97,221.67 125,000.56 1,388,888.89
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 1,400,000,000.00 116,666,000.00 150,000,666.67 1,666,666,666.67
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
===============
(xix) Available Funds 20,425,947.04 1,702,152.53 2,188,504.05 24,316,603.61
(xx) Certificate Rate 5.77063% 5.99063% 6.26563%
- ------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1997-1
Distribution Date: 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 5,308,791.96 457,837.55 624,384.16 6,391,013.67
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 131,406,006.88 10,950,462.48 14,079,253.11 156,435,722.47
(iv) Collections of Finance Charge Receivables 17,736,789.83 1,478,060.68 1,900,375.48 21,115,225.98
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 1,150,000,000.00 95,833,000.00 123,214,619.00 1,369,047,619.00
Adjusted Interest 1,150,000,000.00 95,833,000.00 123,214,619.00 1,369,047,619.00
Series
Floating Investor Percentage 8.56% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 8.56% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 7,475,228.71 622,933.56 800,919.53 8,899,081.80
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 958,333.33 79,860.83 102,678.85 1,140,873.02
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 1,150,000,000.00 95,833,000.00 123,214,619.00 1,369,047,619.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
==================
(xix) Available Funds 16,778,456.49 1,398,199.84 1,797,696.63 19,974,352.97
(xx) Certificate Rate 5.73063% 5.93063% 6.29063%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1997-2
Distribution Date 9/15/98:
Section 5.2 - Supplement Class A Class B Collateral Total
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 7,875,000.00 458,095.13 581,984.25 8,915,079.38
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 171,399,139.41 9,738,556.30 13,634,053.67 194,771,749.38
(iv) Collections of Finance Charge Receivables 23,134,943.25 1,314,481.21 1,840,283.79 26,289,708.25
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor 1,500,000,000.00 85,227,000.00 119,318,455.00 1,704,545,455.00
Adjusted 1,500,000,000.00 85,227,000.00 119,318,455.00 1,704,545,455.00
Series
Floating Investor Percentage 10.66% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 10.66% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 9,750,298.32 553,992.45 775,593.69 11,079,884.45
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 1,250,000.00 71,022.50 99,432.05 1,420,454.55
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 1,500,000,000.00 85,227,000.00 119,318,455.00 1,704,545,455.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
===============
(xix) Available Funds 21,884,943.25 1,243,458.71 1,740,851.74 24,869,253.70
(xx) Certificate Rate 6.30000% 6.45000% 6.14063%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1997-3
Distribution Date 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- ----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 4,235,625.00 100,535.58 137,894.78 4,474,055.36
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii)Collections of Principal Receivables 28,566,523.23 2,380,505.51 3,060,737.05 34,007,765.80
(iv) Collections of Finance Charge Receivables 3,855,823.88 321,313.52 413,129.13 4,590,266.52
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor 250,000,000.00 20,833,000.00 26,786,048.00 297,619,048.00
Adjusted 250,000,000.00 20,833,000.00 26,786,048.00 297,619,048.00
Series
Floating Investor Percentage 1.86% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 1.86% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 1,625,049.72 135,418.64 174,114.64 1,934,583.00
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 208,333.33 17,360.83 22,321.71 248,015.87
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.76%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 250,000,000.00 20,833,000.00 26,786,048.00 297,619,048.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
====================
(xix) Available Funds 6,483,681.86 303,952.68 390,807.43 7,178,441.97
(xx) Certificate Rate 6.77700% 5.99063% 6.39063%
- ---------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1997-4
Distribution Date: 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- ---------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 2,803,637.83 241,692.04 316,702.27 3,362,032.15
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 68,559,655.76 5,713,304.65 7,345,677.48 81,618,637.90
(iv) Collections of Finance Charge Receivables 9,253,977.30 771,164.78 991,497.58 11,016,639.65
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 600,000,000.00 50,000,000.00 64,285,715.00 714,285,715.00
Adjusted Interest 600,000,000.00 50,000,000.00 64,285,715.00 714,285,715.00
Series
Floating Investor Percentage 4.4679107% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 4.47% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 3,900,119.33 325,009.94 417,869.93 4,642,999.20
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 500,000.00 41,666.67 53,571.43 595,238.10
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 600,000,000.00 50,000,000.00 64,285,715.00 714,285,715.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
==================
(xix) Available Funds 8,753,977.30 729,498.11 937,926.15 10,421,401.56
(xx) Certificate Rate 5.80063% 6.00063% 6.24063%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1997-5
Distribution Date: 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 2,580,833.33 151,230.58 201,546.85 2,933,610.76
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00
(iii) Collections of Principal Receivables 57,133,046.47 3,246,185.43 4,544,684.63 64,923,916.54
(iv) Collections of Finance Charge Receivables 7,711,647.75 438,160.40 613,427.94 8,763,236.09
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 500,000,000.00 28,409,000.00 39,772,819.00 568,181,819.00
Adjusted Interest 500,000,000.00 28,409,000.00 39,772,819.00 568,181,819.00
Series
Floating Investor Percentage 3.55% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 3.55% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 3,250,099.44 184,664.15 258,531.23 3,693,294.82
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 416,666.67 23,674.17 33,144.02 473,484.85
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 500,000,000.00 28,409,000.00 39,772,819.00 568,181,819.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
================
(xix) Available Funds 7,294,981.08 414,486.24 580,283.92 8,289,751.24
(xx) Certificate Rate 6.19400% 6.38800% 6.29063%
- -----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1998-2
Distribution Date: 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 0.00 316,345.48 422,272.98 738,618.46
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 91,412,874.35 7,617,663.35 9,794,312.79 108,824,850.49
(iv) Collections of Finance Charge Receivables 12,338,636.40 1,028,209.42 1,322,007.05 14,688,852.87
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 800,000,000.00 66,666,000.00 85,714,953.00 952,380,953.00
Adjusted Interest 800,000,000.00 66,666,000.00 85,714,953.00 952,380,953.00
Series
Floating Investor Percentage 5.96% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 5.96% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 5,200,159.10 433,342.26 557,164.24 6,190,665.60
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 666,666.67 55,555.00 71,429.13 793,650.79
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 800,000,000.00 66,666,000.00 85,714,953.00 952,380,953.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii)Principal Investment Funding Shortfall
===================
(xix) Available Funds 11,671,969.73 972,654.42 1,250,577.92 13,895,202.07
(xx) Certificate Rate 5.79172% 5.89063% 6.11563%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1998-3
Distribution Date: 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 3,000,000.00 174,711.25 239,182.71 3,413,893.96
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00
(iii) Collections of Principal Receivables 68,559,655.76 3,895,331.11 5,453,712.88 77,908,699.75
(iv) Collections of Finance Charge Receivables 9,253,977.30 525,780.14 736,125.85 10,515,883.30
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 600,000,000.00 34,090,000.00 47,728,182.00 681,818,182.00
Adjusted Interest 600,000,000.00 34,090,000.00 47,728,182.00 681,818,182.00
Series
Floating Investor Percentage 4.26% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 4.26% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 3,900,119.33 221,591.78 310,242.68 4,431,953.78
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 500,000.00 28,408.33 39,773.49 568,181.82
(xi) Portfolio Yield (Net of Defaulted Receivables) 10.71%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 600,000,000.00 34,090,000.00 47,728,182.00 681,818,182.00
(xiv) LIBOR 5.64063%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
===================
(xix) Available Funds 8,753,977.30 497,371.81 696,352.37 9,947,701.48
(xx) Certificate Rate 6.00000% 6.15000% 6.29063%
- ----------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1998-4
Distribution Date: 9/15/98
Section 5.2 - Supplement Class A Class B Collateral Total
- ----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Paid to Swap Counterparty 4,354,239.57
Monthly Interest Distributed 377,011.65 522,876.19
Total Monthly Interest 5,254,127.40
Annual Interest Distributed DEM 0.00
Deficiency Amounts 0.00 0.00 0.00
Additional Interest 0.00 0.00 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 71,071,761.25 5,922,580.44 7,614,897.98 84,609,239.67
(iv) Collections of Finance Charge Receivables 9,719,934.06 809,985.43 1,041,430.59 11,571,350.08
(v) Aggregate Amount of Principal Receivables 15,987,018,683.19
Investor Interest 552,486,188.00 46,040,000.00 59,195,465.00 657,721,653.00
Adjusted Interest 552,486,188.00 46,040,000.00 59,195,465.00 657,721,653.00
Class A DEM 1,000,000,000
Series
Floating Investor Percentage 4.11% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 4.11% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 95.33%
30 to 59 days 1.54%
60 to 89 days 1.05%
90 or more days 2.08%
Total Receivables 100.00%
(vii) Investor Default Amount 3,821,026.55 318,415.31 409,399.27 4,548,841.13
(viii) Investor Charge-Offs 0.00 0.00 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00 0.00
(x) Servicing Fee 537,139.35 44,761.11 57,551.15 639,451.61
(xi) Portfolio Yield (Net of Defaulted Receivables) 11.65%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 552,486,188.00 46,040,000.00 59,195,465.00 657,721,653.00
(xiv) LIBOR 5.65625%
(xv) Principal Funding Account Balance 0.00
(xvi) Accumulation Shortfall 0.00
(xvii) Principal Funding Investment Proceeds 0.00
(xviii) Principal Investment Funding Shortfall
===============
(xix) Available Funds 9,182,794.71 765,224.32 983,879.44 10,931,898.48
(xx) Certificate Rate 6.01625% 6.55625%
Class A Swap Floating Rate 5.79025%
Class A DEM 5.00000%
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</TABLE>
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