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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: November 15, 1999
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
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(Originator of the Trust referred to herein)
(Exact name of the registrant as specified in its charter)
CHASE MANHATTAN AUTO TRUST 1998-B
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(Issuer)
Delaware 333-36939 22-2382028
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5033
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Item 5. Other Events:
Chase Manhattan Auto Owner Trust 1998-B is the issuer of four
outstanding classes of Asset Backed Notes and a single class of Asset Backed
Certificates. The notes and certificates are serviced in accordance with the
Sale and Servicing Agreement, dated as of April 1, 1998, as amended. The parties
to the Sale and Servicing Agreement are: Chase Manhattan Bank USA, National
Association, as seller and as servicer, and Chase Manhattan Owner Trust, as
issuer.
On November 15, 1999, Chase USA, as servicer, distributed monthly
interest to the holders of the notes and certificates. Chase USA furnished a
copy of the monthly statement to certificateholders for each of the series as
required by the Sale and Servicing Agreement. A copy of the monthly statement to
certificateholders is being filed as Exhibit 20.1 to this Current Report on Form
8-K.
Item 7(c). Exhibits
Exhibits Description
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20.1 Monthly Statement to Certificateholders with
respect to the November 15, 1999 distribution.
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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: November 30, 1999
By: THE CHASE MANHATTAN BANK,
USA, NATIONAL ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
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Name: Patricia Garvey
Title: Vice President
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INDEX TO EXHIBITS
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Exhibit No. Description
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20.1 Statement to Certificateholders dated 11/15/1999 delivered
pursuant to Section 5.8 of the Sale and Servicing Agreement
dated as of April 1, 1998.
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Chase Manhattan Auto Owner Trust 1998-B
Statement to Certificateholders
November 15, 1999
<TABLE>
<CAPTION>
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DISTRIBUTION IN DOLLARS
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ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSSES INTEREST BALANCE
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
A1 250,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A2 200,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A3 321,000,000.00 252,821,441.21 23,450,336.18 1,211,436.07 24,661,772.25 0.00 0.00 229,371,105.03
A4 282,800,000.00 282,800,000.00 0.00 1,366,866.67 1,366,866.67 0.00 0.00 282,800,000.00
B1 32,604,142.65 32,604,142.65 0.00 164,379.22 164,379.22 0.00 0.00 32,604,142.65
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TOTALS 1,086,404,142.65 568,225,583.86 23,450,336.18 2,742,681.96 26,193,018.14 0.00 0.00 544,775,247.68
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</TABLE>
<TABLE>
<CAPTION>
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FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
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PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS-THRU
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR RATE
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<S> <C> <C> <C> <C> <C> <C> <C>
A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 5.578000%
A2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A2 5.729000%
A3 787.60573586 73.05400679 3.77394414 76.82795093 714.55172907 A3 5.750000%
A4 1,000.00000000 0.00000000 4.83333335 4.83333335 1,000.00000000 A4 5.800000%
B1 1,000.00000000 0.00000000 5.04166669 5.04166669 1,000.00000000 B1 6.050000%
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TOTALS 523.03333682 21.58527868 2.52455035 24.10982903 501.44805813
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</TABLE>
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IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT,
PLEASE CONTACT THE ADMINISTRATOR LISTED BELOW:
Mark McDermott
The Chase Manhattan Bank - Structured Finance Services
450 W. 33rd Street, 14th Floor,
New York, New York 10001
Tel: (212) 946-7016
Email: [email protected]
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[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Auto Owner Trust 1998-B
November 15, 1999
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STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<S> <C>
Due Period 19
Due Period Beginning Date 10/01/99
Due Period End Date 10/31/99
Determination Date 11/10/99
Section 5.8(iii) Servicing Fee 473,521.32
Section 5.8(iii) Servicing Fee per $1000 0.43586111
Section 5.8(iv) Administration Fee 1,000.00
Section 5.8(iv) Administration Fee per $1000 0.00092047
Section 5.8(vi) Pool Balance at the end of the Collection Period 544,775,247.68
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 124,194.87
TOTAL 124,194.87
Section 5.8(viii) Realized Net Losses for Collection Period 71,560.84
Section 5.8(ix) Reserve Account Balance after Disbursement 16,343,257.43
Section 5.8(x) Specified Reserve Account Balance 16,343,257.43
Section 5.8(xi) Total Distribution Amount 27,535,225.33
Servicing Fee 473,521.32
Administration Fee 1,000.00
Noteholders Distribution Amount 26,028,638.92
Certficateholders Distribution Amount 164,379.22
Deposit to Reserve Account 867,685.87
</TABLE>
[Image] (Copyright) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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