CHASE MANHATTAN BANK USA
8-K, 1999-10-29
ASSET-BACKED SECURITIES
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<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: October 15, 1999


                 CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
           ----------------------------------------------------------
                  (Originator of the Trust referred to herein)
           (Exact name of the registrant as specified in its charter)


                   CHASE MANHATTAN AUTO OWNER TRUST 1998-C
                   ---------------------------------------
                                    (Issuer)


         Delaware                        333-36939                22-2382028
- ----------------------------    ------------------------    -------------------
(State or other jurisdiction    (Commission File Number)    (IRS Employer
of incorporation)                                           Identification No.)


            802 Delaware Avenue, Wilmington, Delaware         19801
            -----------------------------------------       ----------
            (Address of principal executive offices)        (Zip Code)

Registrant's telephone number, including area code: (302) 575-5033
<PAGE>

Item 5.  Other Events:

         Chase Manhattan Auto Owner Trust 1998-C is the issuer of four 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 June 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 October 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
                  --------         -----------

                  20.1             Monthly Statement to Certificateholder with
                                   respect to the October 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:  October 29, 1999

                                            By: THE CHASE MANHATTAN BANK,
                                            USA, NATIONAL ASSOCIATION
                                            as Servicer


                                            By: /s/ Patricia Garvey
                                            -----------------------------------
                                            Name:  Patricia Garvey
                                            Title: Vice President
<PAGE>

                                INDEX TO EXHIBITS
                                -----------------

Exhibit No.                  Description
- -----------                  -----------
20.1                          Statement to Certificateholders dated 10/15/1999
                              delivered pursuant to Section 5.8 of the Sale and
                              Servicing Agreement dated as of June 1, 1998.


<PAGE>

                                                                    Exhibit 20.1
- --------------------------------------------------------------------------------
                     Chase Manhattan Auto Owner Trust 1998-C

                         Statement to Certificateholders

                                October 15, 1999
- --------------------------------------------------------------------------------

- --------------------------------------------------------------------------------
                             DISTRIBUTION IN DOLLARS
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------------------------------------------------------------
             ORIGINAL           PRIOR                                                                                    CURRENT
               FACE            PRINCIPAL                                                       REALIZED   DEFERRED      PRINCIPAL
 CLASS         VALUE            BALANCE          PRINCIPAL        INTEREST          TOTAL       LOSSES    INTEREST       BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S>      <C>                 <C>               <C>              <C>             <C>               <C>       <C>      <C>
  A1       258,000,000.00              0.00             0.00            0.00             0.00     0.00      0.00               0.00
  A2       195,000,000.00     12,565,456.97    12,565,456.97       60,178.07    12,625,635.04     0.00      0.00               0.00
  A3       325,000,000.00    325,000,000.00    11,761,340.95    1,570,833.33    13,332,174.28     0.00      0.00     313,238,659.05
  A4       283,900,000.00    283,900,000.00             0.00    1,384,012.50     1,384,012.50     0.00      0.00     283,900,000.00
  B1        32,889,211.45     27,246,906.00       752,375.19      136,234.53       888,609.72     0.00      0.00      26,494,530.81
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS   1,094,789,211.45    648,712,362.97    25,079,173.11    3,151,258.43    28,230,431.54     0.00      0.00     623,633,189.86
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
- -------------------------------------------------------------------------------------                     --------------------
                       FACTOR INFORMATION PER $1000 OF ORIGINAL FACE                                      PASS-THROUGH RATES
              PRIOR                                                       CURRENT                                    CURRENT
            PRINCIPAL                                                    PRINCIPAL                         CLASS    PASS-THRU
CLASS        FACTOR         PRINCIPAL      INTEREST        TOTAL          FACTOR                                       RATE
- -------------------------------------------------------------------------------------                     --------------------
<S>      <C>               <C>            <C>           <C>            <C>                                   <C>     <C>
  A1         0.00000000     0.00000000    0.00000000     0.00000000        0.00000000                        A1      5.588000%
  A2        64.43824087    64.43824087    0.30860549    64.74684636        0.00000000                        A2      5.747000%
  A3     1,000.00000000    36.18874138    4.83333332    41.02207471      963.81125862                        A3      5.800000%
  A4     1,000.00000000     0.00000000    4.87500000     4.87500000    1,000.00000000                        A4      5.850000%
  B1       828.44509791    22.87604831    4.14222549    27.01827380      805.56904960                        B1      6.000000%
- -------------------------------------------------------------------------------------                     --------------------
TOTALS     592.54544727    22.90776420    2.87841568    25.78617988      569.63768307
- -------------------------------------------------------------------------------------                     --------------------
</TABLE>

- --------------------------------------------------------------------------------
 IF THERE ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT, PLEASE CONTACT THE
                          ADMINISTRATOR LISTED BELOW:
                                 Kimberly Costa
             The Chase Manhattan Bank - Structured Finance Services
                         450 W. 33rd Street, 14th Floor,
                            New York, New York 10001
                               Tel: (212) 946-3247
                        Email: [email protected]
- --------------------------------------------------------------------------------
[Image]                          (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------
<PAGE>
- --------------------------------------------------------------------------------
                     Chase Manhattan Auto Owner Trust 1998-C

                                October 15, 1999
- --------------------------------------------------------------------------------
                         STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<S>                <C>                                                   <C>
                                            Due Period                               16

                                            Due Period Beginning Date          09/01/99

                                            Due Period End Date                09/30/99

                                            Determination Date                 10/08/99

Section 5.8(iii)   Servicing Fee                                             540,593.64

Section 5.8(iii)   Servicing Fee per $1000                                   0.49378788

Section 5.8(iv)    Administration Fee                                          1,000.00

Section 5.8(iv)    Administration Fee per $1000                              0.00091342

Section 5.8(vi)    Pool Balance at the end of the Collection Period      623,633,189.86

Section 5.8(vii)   Repurchase Amounts for Repurchased Receivable
                   By Seller                                                       0.00
                   By Servicer                                                83,128.14
                   TOTAL                                                      83,128.14

Section 5.8(viii)  Realized Net Losses for Collection Period                 390,322.84

Section 5.8(ix)    Reserve Account Balance after Disbursement             18,708,995.70

Section 5.8(x)     Specified Reserve Account Balance                      18,708,995.70

Section 5.8(xi)    Total Distribution Amount                              29,557,688.00
                   Servicing Fee                                             540,593.64
                   Administration Fee                                          1,000.00
                   Noteholders Distribution Amount                        27,341,821.82
                   Certficateholders Distribution Amount                     888,609.72
                   Deposit to Reserve Account                                785,662.82
</TABLE>

[Image]                          (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
- --------------------------------------------------------------------------------



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