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Previous: CHASE MANHATTAN BANK /NY/, 8-K, 1999-09-30 |
Next: CHASE MANHATTAN BANK /NY/, 8-K, 1999-09-30 |
<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, 1999
CHASE CREDIT CARD MASTER TRUST
(formerly known as "Chemical Master Credit Card Trust I")
Series 1995-2, Series 1995-3, Series 1996-1, Series 1996-2
and Series 1996-3
- --------------------------------------------------------------------------------
(Issuer of Securities)
THE CHASE MANHATTAN BANK (formerly known as 'Chemical Bank')
(Sponsor of the Trust)
- --------------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
New York 33-94190 13-4994650
- ---------------------------- ------------------------ --------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
270 Park Avenue, New York, New York 10017
----------------------------------------------- ------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (212) 270-6000
<PAGE>
Item 5. Other Events:
Chase Credit Card Master Trust, which was formerly known as Chemical
Master Credit Card Trust I, is the issuer of 19 outstanding series of asset
backed certificates. The asset backed certificates are serviced in accordance
with the Second Amended and Restated Pooling and Servicing Agreement, dated as
of September 1, 1996, as amended. The parties to the Pooling and Servicing
Agreement are: The Chase Manhattan Bank, as transferor prior to June 1, 1996 and
as servicer, Chase Manhattan Bank USA, National Association, as transferor after
June 1,1996, and The Bank of New York, as trustee.
On September 15, 1999, Chase USA, on behalf of Chase Manhattan Bank as
servicer, distributed monthly interest to the holders of the Series 1995-2,
1995-3, 1996-1, 1996-2 and 1996-3 certificates. Chase USA furnished copies of
monthly certificateholders' reports for each of those series as required by the
Pooling and Servicing Agreement. Copies of those monthly certificateholders'
reports are being filed as Exhibit 20.1 to this Current Report on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
-------- -----------
20.1 Monthly Reports with respect to the September 15,
1999 distribution
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
Dated: September 30, 1999
The Chase Manhattan Bank,
as Servicer
By: /s/ Patrick Margey
----------------------------------------
Name: Patrick Margey
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
- ----------- -----------
20.1 Monthly Reports with respect to the
September 15, 1999 distribution
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1995-2
Distribution Date: 9/15/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A
- -----------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00
(ii) Monthly Interest Distributed 3,115,000.00
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest
(iii) Collections of Principal Receivables 78,805,611.15
(iv) Collections of Finance Charge Receivables 9,799,049.22
(v) Aggregate Amount of Principal Receivables
Investor Interest 600,000,000.00
Adjusted Interest 600,000,000.00
Series
Floating Investor Percentage 3.67% 88.00%
Fixed Investor Percentage 3.67% 88.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current
30 to 59 days
60 to 89 days
90 or more days
Total Receivables
(vii) Investor Default Amount 3,047,532.43
(viii) Investor Charge-Offs 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00
(x) Servicing Fee 500,000.00
(xi) Portfolio Yield (Net of Defaulted Receivables)
(xii) Reallocated Monthly Principal
(xiii) Closing Investor Interest (Class A Adjusted) 600,000,000.00
(xiv) LIBOR
(xv) Principal Funding Account Balance
(xvii) Accumulation Shortfall
(xviii) Principal Funding Investment Proceeds
(xx) Principal Investment Funding Shortfall
(xxi) Available Funds 9,299,049.22
(xxii) Certificate Rate 6.23000%
- -----------------------------------------------------------------------------------------------------------------
<CAPTION>
Section 5.2 - Supplement Class B Collateral
- --------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 181,245.17 225,465.94
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest 0.00
(iii) Collections of Principal Receivables 4,477,472.14 6,268,747.56
(iv) Collections of Finance Charge Receivables 556,749.31 779,484.67
(v) Aggregate Amount of Principal Receivables
Investor Interest 34,090,000.00 47,728,181.82
Adjusted Interest 34,090,000.00 47,728,181.82
Series
Floating Investor Percentage 5.00% 7.00%
Fixed Investor Percentage 5.00% 7.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current
30 to 59 days
60 to 89 days
90 or more days
Total Receivables
(vii) Investor Default Amount 173,150.63 242,421.97
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00
(x) Servicing Fee 28,408.33 39,773.48
(xi) Portfolio Yield (Net of Defaulted Receivables)
(xii) Reallocated Monthly Principal 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 34,090,000.00 47,728,181.82
(xiv) LIBOR
(xv) Principal Funding Account Balance
(xvii) Accumulation Shortfall
(xviii) Principal Funding Investment Proceeds
(xx) Principal Investment Funding Shortfall
(xxi) Available Funds 528,340.98 739,711.19
(xxii) Certificate Rate 6.38000% 5.66875%
- --------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Section 5.2 - Supplement Total
- ---------------------------------------------------------------------------------------------------
<S> <C>
(i) Monthly Principal Distributed 0.00
(ii) Monthly Interest Distributed 3,521,711.11
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest 0.00
(iii) Collections of Principal Receivables 89,551,830.85
(iv) Collections of Finance Charge Receivables 11,135,283.20
(v) Aggregate Amount of Principal Receivables 18,569,000,116.53
Investor Interest 681,818,181.82
Adjusted Interest 681,818,181.82
Series
Floating Investor Percentage 100.00%
Fixed Investor Percentage 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.12%
30 to 59 days 1.27%
60 to 89 days 0.89%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 3,463,105.04
(viii) Investor Charge-Offs 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions
(x) Servicing Fee 568,181.82
(xi) Portfolio Yield (Net of Defaulted Receivables) 13.50%
(xii) Reallocated Monthly Principal 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 681,818,181.82
(xiv) LIBOR 5.26875%
(xv) Principal Funding Account Balance 0.00
(xvii) Accumulation Shortfall 0.00
(xviii) Principal Funding Investment Proceeds 0.00
(xx) Principal Investment Funding Shortfall 0.00
(xxi) Available Funds 10,567,101.38
(xxii) Certificate Rate
- ---------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1995-3
Distribution Date: 9/15/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 2,336,250.00 136,149.60
Deficiency Amounts 0.00 0.00
Additional Interest 0.00 0.00
Accrued and Unpaid Interest
(iii) Collections of Principal Receivables 59,104,208.36 3,358,169.78
(iv) Collections of Finance Charge Receivables 7,349,286.91 417,570.15
(v) Aggregate Amount of Principal Receivables
Investor Interest 450,000,000.00 25,568,000.00
Adjusted Interest 450,000,000.00 25,568,000.00
Series
Floating Investor Percentage 2.75% 88.00% 5.00%
Fixed Investor Percentage 2.75% 88.00% 5.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current
30 to 59 days
60 to 89 days
90 or more days
Total Receivables
(vii) Investor Default Amount 2,285,649.32 129,865.52
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00
(x) Servicing Fee 375,000.00 21,306.67
(xi) Portfolio Yield (Net of Defaulted Receivables)
(xii) Reallocated Monthly Principal 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 450,000,000.00 25,568,000.00
(xiv) LIBOR
(xv) Principal Funding Account Balance
(xvii) Accumulation Shortfall
(xviii) Principal Funding Investment Proceeds
(xx) Principal Investment Funding Shortfall
(xxi) Available Funds 6,974,286.91 396,263.48
(xxii) Certificate Rate 6.23000% 6.39000%
- ----------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Section 5.2 - Supplement Collateral Total
- ---------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 172,825.81 2,645,225.41
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 4,701,495.00 67,163,873.14
(iv) Collections of Finance Charge Receivables 584,605.34 8,351,462.40
(v) Aggregate Amount of Principal Receivables 18,569,000,116.53
Investor Interest 35,795,636.36 511,363,636.36
Adjusted Interest 35,795,636.36 511,363,636.36
Series
Floating Investor Percentage 7.00% 100.00%
Fixed Investor Percentage 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.12%
30 to 59 days 1.27%
60 to 89 days 0.89%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 181,813.94 2,597,328.78
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00
(x) Servicing Fee 29,829.70 426,136.36
(xi) Portfolio Yield (Net of Defaulted Receivables) 13.50%
(xii) Reallocated Monthly Principal 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 35,795,636.36 511,363,636.36
(xiv) LIBOR 5.26875%
(xv) Principal Funding Account Balance 0.00
(xvii) Accumulation Shortfall 0.00
(xviii) Principal Funding Investment Proceeds 0.00
(xx) Principal Investment Funding Shortfall 0.00
(xxi) Available Funds 554,775.64 7,925,326.04
(xxii) Certificate Rate 5.79375%
- ---------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-1
Distribution Date: 9/15/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B
- --------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 3,237,500.00 189,248.43
Deficiency Amounts 0.00 0.00
Additional Interest 0.00 0.00
Accrued and Unpaid Interest
(iii) Collections of Principal Receivables 91,939,879.67 5,223,761.28
(iv) Collections of Finance Charge Receivables 11,432,224.09 649,546.31
(v) Aggregate Amount of Principal Receivables
Investor Interest 700,000,000.00 39,772,000.00
Adjusted Interest 700,000,000.00 39,772,000.00
Series
Floating Investor Percentage 4.28% 88.00% 5.00%
Fixed Investor Percentage 4.28% 88.00% 5.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current
30 to 59 days
60 to 89 days
90 or more days
Total Receivables
(vii) Investor Default Amount 3,555,454.51 202,010.77
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00
(x) Servicing Fee 583,333.33 33,143.33
(xi) Portfolio Yield (Net of Defaulted Receivables)
(xii) Reallocated Monthly Principal 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 700,000,000.00 39,772,000.00
(xiv) LIBOR
(xv) Principal Funding Account Balance
(xvii) Accumulation Shortfall
(xviii) Principal Funding Investment Proceeds
(xx) Principal Investment Funding Shortfall
(xxi) Available Funds 10,848,890.76 616,402.98
(xxii) Certificate Rate 5.55000% 5.71000%
- --------------------------------------------------------------------------------------------------------------------
<CAPTION>
Section 5.2 - Supplement Collateral Total
- ----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 263,042.02 3,689,790.46
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 7,313,495.04 104,477,135.99
(iv) Collections of Finance Charge Receivables 909,393.34 12,991,163.74
(v) Aggregate Amount of Principal Receivables 18,569,000,116.53
Investor Interest 55,682,545.45 795,454,545.45
Adjusted Interest 55,682,545.45 795,454,545.45
Series
Floating Investor Percentage 7.00% 100.00%
Fixed Investor Percentage 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.12%
30 to 59 days 1.27%
60 to 89 days 0.89%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 282,823.94 4,040,289.21
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00
(x) Servicing Fee 46,402.12 662,878.79
(xi) Portfolio Yield (Net of Defaulted Receivables) 13.50%
(xii) Reallocated Monthly Principal 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 55,682,545.45 795,454,545.45
(xiv) LIBOR 5.26875%
(xv) Principal Funding Account Balance 0.00
(xvii) Accumulation Shortfall 0.00
(xviii) Principal Funding Investment Proceeds 0.00
(xx) Principal Investment Funding Shortfall 0.00
(xxi) Available Funds 862,991.22 12,328,284.95
(xxii) Certificate Rate 5.66875%
- ----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-2
Distribution Date: 9/15/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 2,740,833.33 160,416.67
Deficiency Amounts 0.00 0.00
Additional Interest 0.00 0.00
Accrued and Unpaid Interest
(iii) Collections of Principal Receivables 72,238,476.88 4,104,458.91
(iv) Collections of Finance Charge Receivables 8,982,461.78 510,367.15
(v) Aggregate Amount of Principal Receivables
Investor Interest 550,000,000.00 31,250,000.00
Adjusted Interest 550,000,000.00 31,250,000.00
Series
Floating Investor Percentage 3.37% 88.00% 5.00%
Fixed Investor Percentage 3.37% 88.00% 5.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current
30 to 59 days
60 to 89 days
90 or more days
Total Receivables
(vii) Investor Default Amount 2,793,571.40 158,725.65
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00
(x) Servicing Fee 458,333.33 26,041.67
(xi) Portfolio Yield (Net of Defaulted Receivables)
(xii) Reallocated Monthly Principal 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 550,000,000.00 31,250,000.00
(xiv) LIBOR
(xv) Principal Funding Account Balance
(xvii) Accumulation Shortfall
(xviii) Principal Funding Investment Proceeds
(xx) Principal Investment Funding Shortfall
(xxi) Available Funds 8,524,128.45 484,325.48
(xxii) Certificate Rate 5.98000% 6.16000%
- -------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Section 5.2 - Supplement Collateral Total
- -----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 219,433.59 3,120,683.59
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 5,746,242.48 82,089,178.28
(iv) Collections of Finance Charge Receivables 714,514.01 10,207,342.94
(v) Aggregate Amount of Principal Receivables 18,569,000,116.53
Investor Interest 43,750,000.00 625,000,000.00
Adjusted Interest 43,750,000.00 625,000,000.00
Series
Floating Investor Percentage 7.00% 100.00%
Fixed Investor Percentage 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.12%
30 to 59 days 1.27%
60 to 89 days 0.89%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 222,215.91 3,174,512.95
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00
(x) Servicing Fee 36,458.33 520,833.33
(xi) Portfolio Yield (Net of Defaulted Receivables) 13.50%
(xii) Reallocated Monthly Principal 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 43,750,000.00 625,000,000.00
(xiv) LIBOR 5.26875%
(xv) Principal Funding Account Balance 0.00
(xvii) Accumulation Shortfall 0.00
(xviii) Principal Funding Investment Proceeds 0.00
(xx) Principal Investment Funding Shortfall 0.00
(xxi) Available Funds 678,055.67 9,686,509.60
(xxii) Certificate Rate 6.01875%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-3
Distribution Date: 9/15/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B
- -------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 2,434,132.89 141,813.47
Deficiency Amounts 0.00 0.00
Additional Interest 0.00 0.00
Accrued and Unpaid Interest
(iii) Collections of Principal Receivables 54,110,953.49 3,074,469.58
(iv) Collections of Finance Charge Receivables 6,728,402.82 382,293.57
(v) Aggregate Amount of Principal Receivables
Investor Interest 411,983,000.00 23,408,000.00
Adjusted Interest 411,983,000.00 23,408,000.00
Series
Floating Investor Percentage 2.52% 88.00% 5.00%
Fixed Investor Percentage 2.52% 88.00% 5.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current
30 to 59 days
60 to 89 days
90 or more days
Total Receivables
(vii) Investor Default Amount 2,092,552.59 118,894.40
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00 0.00
(x) Servicing Fee 343,319.17 19,506.67
(xi) Portfolio Yield (Net of Defaulted Receivables)
(xii) Reallocated Monthly Principal 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 411,983,000.00 23,408,000.00
(xiv) LIBOR
(xv) Principal Funding Account Balance
(xvii) Accumulation Shortfall
(xviii) Principal Funding Investment Proceeds
(xx) Principal Investment Funding Shortfall
(xxi) Available Funds 6,385,083.66 362,786.91
(xxii) Certificate Rate 7.09000% 7.27000%
- -------------------------------------------------------------------------------------------------------------------------------
<CAPTION>
Section 5.2 - Supplement Collateral Total
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00
(ii) Monthly Interest Distributed 164,374.27 2,740,320.63
Deficiency Amounts 0.00
Additional Interest 0.00
Accrued and Unpaid Interest 0.00 0.00
(iii) Collections of Principal Receivables 4,304,420.38 61,489,843.46
(iv) Collections of Finance Charge Receivables 535,231.27 7,645,927.67
(v) Aggregate Amount of Principal Receivables 18,569,000,116.53
Investor Interest 32,772,440.86 468,163,440.86
Adjusted Interest 32,772,440.86 468,163,440.86
Series
Floating Investor Percentage 7.00% 100.00%
Fixed Investor Percentage 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.12%
30 to 59 days 1.27%
60 to 89 days 0.89%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 166,458.46 2,377,905.45
(viii) Investor Charge-Offs 0.00 0.00
(ix) Reimbursed Investor Charge-Offs/Reductions 0.00
(x) Servicing Fee 27,310.37 390,136.20
(xi) Portfolio Yield (Net of Defaulted Receivables) 13.50%
(xii) Reallocated Monthly Principal 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 32,772,440.86 468,163,440.86
(xiv) LIBOR 5.26875%
(xv) Principal Funding Account Balance 0.00
(xvii) Accumulation Shortfall 0.00
(xviii) Principal Funding Investment Proceeds 0.00
(xx) Principal Investment Funding Shortfall 0.00
(xxi) Available Funds 507,920.90 7,255,791.46
(xxii) Certificate Rate 6.01875%
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
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