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Previous: PRUDENTIAL STRUCTURED MATURITY FUND INC, 497, 1999-08-27 |
Next: CHASE MANHATTAN BANK /NY/, 8-K, 1999-08-27 |
<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: August 16, 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 August 16, 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 August 16, 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: August 27, 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 August 16, 1999
distribution
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1995-2
Distribution Date: 8/16/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B Collateral Total
- ------------------------ -------------- ------------- ------------- -----------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 3,115,000.00 181,245.17 236,731.78 3,532,876.95
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 73,372,411.31 4,168,775.84 5,836,552.98 83,377,740.12
(iv) Collections of Finance Charge Receivables 8,947,477.99 508,365.87 711,744.76 10,167,588.63
(v) Aggregate Amount of Principal Receivables 18,917,597,065.55
Investor Interest 600,000,000.00 34,090,000.00 47,728,181.82 681,818,181.82
Adjusted Interest 600,000,000.00 34,090,000.00 47,728,181.82 681,818,181.82
Series
Floating Investor Percentage 3.60% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 3.80% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total
Receivables)
Current 96.15%
30 to 59 days 1.29%
60 to 89 days 0.84%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 2,912,740.18 165,492.19 231,699.66 3,309,932.03
(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 39,773.48 568,181.82
(xi) Portfolio Yield (Net of Defaulted
Receivables) 12.07%
(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 47,728,181.82 681,818,181.82
(xiv) LIBOR 5.18000%
(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 8,447,477.99 479,957.54 671,971.28 9,599,406.81
(xxii) Certificate Rate 6.23000% 6.38000% 5.58000%
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1995-3
Distribution Date: 8/16/99
<TABLE>
<CAPTION>
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 2,336,250.00 136,149.60 181,523.65 2,653,923.25
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 55,029,308.48 3,126,643.02 4,377,353.59 62,533,305.09
(iv) Collections of Finance Charge Receivables 6,710,608.49 381,281.86 533,801.11 7,625,691.47
(v) Aggregate Amount of Principal Receivables 18,917,597,065.55
Investor Interest 450,000,000.00 25,568,000.00 35,795,636.36 511,363,636.36
Adjusted Interest 450,000,000.00 25,568,000.00 35,795,636.36 511,363,636.36
Series
Floating Investor Percentage 2.70% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 2.70% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.15%
30 to 59 days 1.29%
60 to 89 days 0.84%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 2,184,555.14 124,121.57 173,772.31 2,482,449.02
(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 375,000.00 21,308.67 29,829.70 426,136.36
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.07%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 450,000,000.00 25,568,000.00 35,795,636.36 511,363,636.36
(xiv) LIBOR 5.18000%
(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 6,335,608.49 359,975.20 503,971.42 7,199,555.11
(xxii) Certificate Rate 6.23000% 6.39000% 5.70500%
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-1
Distribution Date: 8/16/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B Collateral Total
- ------------------------ -------------- ------------- ------------- -----------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 3,237,500.00 189,248.43 276,185.43 3,702,933.86
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 85,601,146.52 4,863,612.57 6,809,271.05 97,274,030.14
(iv) Collections of Finance Charge Receivables 10,438,724.32 593,098.49 830,363.92 11,862,186.73
(v) Aggregate Amount of Principal Receivables 18,917,597,065.55
Investor Interest 700,000,000.00 39,772,000.00 55,682,545.45 795,454,545.45
Adjusted Interest 700,000,000.00 39,772,000.00 55,682,545.45 795,454,545.45
Series
Floating Investor Percentage 4.20% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 4.20% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.15%
30 to 59 days 1.29%
60 to 89 days 0.84%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 3,398,196.88 193,075.84 270,314.65 3,861,587.36
(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 583,333.33 33,143.33 46,402.12 662,878.79
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.07%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 700,000,000.00 39,772,000.00 55,682,545.45 795,454,545.45
(xiv) LIBOR 5.18000%
(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 9,855,390.99 559,955.16 783,961.80 11,199,307.94
(xxii) Certificate Rate 5.55000% 5.71000% 5.58000%
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-2
Distribution Date: 8/16/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B Collateral Total
- ------------------------ -------------- ------------- ------------- -----------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 2,740,833.33 160,416.67 230,611.11 3,131,861.11
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 67,258,043.70 3,821,479.76 5,350,071.66 76,429,595.11
(iv) Collections of Finance Charge Receivables 8,201,854.82 466,014.48 652,420.27 9,320,289.57
(v) Aggregate Amount of Principal Receivables 18,917,597,065.55
Investor Interest 550,000,000.00 31,250,000.00 43,750,000.00 625,000,000.00
Adjusted Interest 550,000,000.00 31,250,000.00 43,750,000.00 625,000,000.00
Series
Floating Investor Percentage 3.30% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 3.30% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.15%
30 to 59 days 1.29%
60 to 89 days 0.84%
90 or more days 1.72%
-----------------
Total Receivables 100.00%
(vii) Investor Default Amount 2,670,011.84 151,705.22 212,387.31 3,034,104.36
(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 458,333.33 26,041.67 36,458.33 520,833.33
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.07%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 550,000,000.00 31,250,000.00 43,750,000.00 625,000,000.00
(xiv) LIBOR 5.18000%
(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 7,743,521.49 439,972.81 615,961.94 8,799,456.24
(xxii) Certificate Rate 5.98000% 6.16000% 5.93000%
</TABLE>
<PAGE>
Chase Manhattan Bank USA, N.A.
Monthly Certificateholder's Statement
Chase Credit Card Master Trust
Series 1996-3
Distribution Date: 8/16/99
<TABLE>
<CAPTION>
Section 5.2 - Supplement Class A Class B Collateral Total
- ------------------------ -------------- ------------- ------------- -----------------
<S> <C> <C> <C> <C> <C>
(i) Monthly Principal Distributed 0.00 0.00 0.00 0.00
(ii) Monthly Interest Distributed 2,434,132.89 141,813.47 172,747.18 2,748,693.54
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 50,380,310.21 2,862,502.34 4,007,655.02 57,250,467.57
(iv) Collections of Finance Charge Receivables 6,143,681.37 349,070.94 488,717.82 6,981,470.14
(v) Aggregate Amount of Principal Receivables 18,917,597,065.55
Investor Interest 411,983,000.00 23,408,000.00 32,772,440.86 468,163,440.86
Adjusted Interest 411,983,000.00 23,408,000.00 32,772,440.86 468,163,440.86
Series
Floating Investor Percentage 2.47% 88.00% 5.00% 7.00% 100.00%
Fixed Investor Percentage 2.47% 88.00% 5.00% 7.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 96.15%
30 to 59 days 1.29%
60 to 89 days 0.84%
90 or more days 1.72%
--------------
Total Receivables 100.00%
(vii) Investor Default Amount 1,999,999.07 113,635.70 159,096.01 2,272,730.78
(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 343,319.17 19,506.67 27,310.37 390,136.20
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.07%
(xii) Reallocated Monthly Principal 0.00 0.00 0.00
(xiii) Closing Investor Interest (Class A Adjusted) 411,983,000.00 23,408,000.00 32,772,440.86 468,163,440.86
(xiv) LIBOR 5.18000%
(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 5,800,362.21 329,564.27 461,407.45 6,591,333.94
(xxii) Certificate Rate 7.09000% 7.27000% 5.93000%
</TABLE>
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