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Previous: WINSTAR COMMUNICATIONS INC, S-3/A, 1997-06-10 |
Next: CHASE MANHATTAN BANK USA, 424B3, 1997-06-10 |
<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: June 10, 1997
CHASE CREDIT CARD MASTER TRUST
(formerly known as "Chemical Master Credit Card Trust I"),
Series 1996-4 and Series 1997-1
------------------------------------------------------------------
(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 April 15, 1997 and May 15, 1997 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 and Series 1997-1 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 Exhibits to this Current Report on Form 8-K.
Item 7(c). Exhibits
--------
Exhibit No. Description
----------- -----------
20.1 Monthly Reports with respect to the
April 15, 1997 distribution
20.2 Monthly Reports with respect to the
May 15, 1997 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/Patricia Garvey
---------------------
Name: Patricia Garvey
Title: Vice President
Dated: June 10, 1997
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit Nos. Description
----------- -----------
20.1 Monthly Reports with respect to the
April 15, 1997 distribution
20.2 Monthly Reports with respect to the
May 15, 1997 distribution
<PAGE>
<TABLE>
<CAPTION>
Exhibit 20.1
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Chase Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chase Credit Card Master Trust
Series 1996-4
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 6,278,902.78 543,914.72 732,555.34 7,555,372.83
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 150,121,788.55 12,510,077.56 16,084,548.83 178,716,414.90
(iv) Collections of Finance Charge Receivables 23,173,364.19 1,931,102.65 2,482,871.48 27,587,338.33
(v) Aggregate Amount of Principal Receivables 13,464,028,927.63
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 12.38% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 12.38% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.74%
30 to 59 days 1.70%
60 to 89 days 1.10%
90 or more days 2.45%
Total Receivables 100.00%
(vii) Investor Default Amount 8,910,688.00 742,553.09 954,720.82 10,607,961.91
(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) 12.23%
(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 5.4375%
(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 22,039,357.15 1,836,602.60 2,361,370.19 26,237,329.94
(xx) Certificate Rate 5.5875% 5.7875% 6.0826%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Chase Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chase Credit Card Master Trust
Series 1997-1
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 5,120,614.58 442,156.16 604,222.24 6,166,992.99
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 123,314,326.31 10,276,158.12 13,212,284.99 146,802,769.41
(iv) Collections of Finance Charge Receivables 19,035,263.44 1,586,266.44 2,039,498.03 22,661,027.91
(v) Aggregate Amount of Principal Receivables 13,464,028,927.63
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 10.17% 84.00% 7.00% 9.00% 100.00%
Percentage
Fixed Investor 10.17% 84.00% 7.00% 9.00% 100.00%
Percentage
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.74%
30 to 59 days 1.70%
60 to 89 days 1.10%
90 or more days 2.45%
--------
Total Receivables 100.00%
(vii) Investor Default Amount 7,319,493.72 609,955.69 784,233.59 8,713,683.00
(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 958,333.33 79,860.83 102,678.85 1,140,873.02
(xi) Portfolio Yield (Net of Defaulted Receivables) 12.23%
(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 5.4375%
(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 18,103,757.66 1,508,641.22 1,939,693.57 21,552,092.45
(xx) Certificate Rate 5.5275% 5.7275% 6.0875%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Exhibit 20.2
- ----------------------------------------------------------------------------------------------------------------------------------
Chase Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chase Credit Card Master Trust
Series 1996-4
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 6,787,083.33 586,975.81 789,066.01 8,163,125.15
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 137,780,818.49 11,481,669.26 14,762,296.16 164,024,783.91
(iv) Collections of Finance Charge Receivables 20,789,347.28 1,732,435.71 2,227,439.97 24,749,222.95
(v) Aggregate Amount of Principal Receivables 13,264,835,579.24
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 12.56% 84.00% 7.00% 9.00% 100.00%
Fixed Investor Percentage 12.56% 84.00% 7.00% 9.00% 100.00%
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.91%
30 to 59 days 1.66%
60 to 89 days 1.14%
90 or more days 2.29%
Total Receivables 100.00%
(vii) Investor Default Amount 9,933,959.42 827,825.22 1,064.357.53 11,826,142.17
(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) 9.30%
(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 5.6875%
(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 19,622,680.61 1,635,214.04 2,102,439.41 23,360,334.06
(xx) Certificate Rate 5.8175% 6.0375% 6.3125%
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------------
Chase Bank - Retail Card Services Group Monthly Report
Certificateholders' Statement Chase Credit Card Master Trust
Series 1997-1
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 5,536,770.83 477,368.13 650,727.21 6,664,866.17
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 113,177,100.90 9,431,392.27 12,126,150.75 134,734,643.92
(iv) Collections of Finance Charge Receivables 17,076,963.84 1,423,075.37 1,829,679.65 20,329,718.85
(v) Aggregate Amount of Principal Receivables 13,264,835,579.24
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 10.32% 84.00% 7.00% 9.00% 100.00%
Percentage
Fixed Investor 10.32% 84.00% 7.00% 9.00% 100.00%
Percentage
(vi) Receivables Delinquent (As % of Total Receivables)
Current 94.91%
30 to 59 days 1.66%
60 to 89 days 1.14%
90 or more days 2.29%
--------
Total Receivables 100.00%
(vii) Investor Default Amount 8,160,038.10 680,000.81 874,292.16 9,714,331.07
(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) 9.30%
(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 5.6875%
(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 16,118,630.50 1,343,214.54 1,727,000.80 19,188,845.84
(xx) Certificate Rate 5.7775% 5.9775% 6.3375%
</TABLE>
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