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: December 15, 1998
-----------------------------------
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
--------------------------------------------------------------
(Originator of the Trust referred to herein)
(Exact name of registrant as specified in its charter)
CHASE MANHATTAN AUTO OWNER TRUST 1998-C
--------------------------------------------
(Issuer with respect to Certificates)
Delaware 333-7575 13-2633612
--------------- ----------------- ------------------
(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)
(302) 575-5033
---------------------------------------------------
(Registrant's telephone number, including area code)
<PAGE>
Item 5. Other Events
On 12/15/98 Chase Manhattan Auto Owner Trust 1998-C (the "Trust") made
distributions to Certificateholders contemplated by the Sale and
Servicing Agreement, dated as of February 1, 1998, (the "Sale & Servicing
Agreement"), between the Registrant, as Seller and Servicer, and
the Trust, as Issuer.
A copy of the Certificateholder Report for such Distribution Date
delivered pursuant to section 5.8 of the Sale and Servicing Agreement is
being filed as Exhibit 20.1 to this Current Report on Form 8-K.
Item 7 (c). Exhibits
--------
Exhibit Description
------- -----------
20.1 Monthly Certificateholder's statement with respect to the
December 15, 1998 distribution.
<PAGE>
SIGNATURES
----------
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Bank has caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.
CHASE MANHATTAN BANK USA,
NATIONAL ASSOCIATION
/s/ Patricia Garvey
-----------------------------
By: Patricia Garvey
Title: Vice President
Date: January 13, 1999
<PAGE>
INDEX TO EXHIBITS
-----------------
Exhibit Description
------- -----------
20.1 Certificateholder Reports dated
1/6/1999 delivered pursuant to
Section 5.8 of the Sale and
Servicing Agreement dated as of
February 1, 1998.
<TABLE>
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
====================================================================================================================================
PERIOD 6 PAGE # 1
DETERMINATION: 10-Dec-98 Beginning 11/1/98
DISTRIBUTION: 15-Dec-98 Ending 11/30/98
TIME: 1/6/99 14:19
CLASS A-1 5.588% ASSET BACKED NOTES
CLASS A-2 5.747% ASSET BACKED NOTES
CLASS A-3 5.800% ASSET BACKED NOTES
CLASS A-4 5.850% ASSET BACKED NOTES
CLASS B-1 6.000% ASSET BACKED CERTIFICATES
ORIG PRINCIPAL BEG PRINCIPAL PRINCIPAL INTEREST TOTAL END PRINCIPAL
CLASS BALANCE BALANCE DISTRIBUTION DISTRIBUTION DISTRIBUTION BALANCE
- ------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 Notes $258,000,000.00 $92,473,555.27 $29,197,150.67 $416,264.57 $29,613,415.24 $63,276,404.60
A-2 Notes $195,000,000.00 $195,000,000.00 $0.00 $933,887.50 $933,887.50 $195,000,000.00
A-3 Notes $325,000,000.00 $325,000,000.00 $0.00 $1,570,833.33 $1,570,833.33 $325,000,000.00
A-4 Notes $283,900,000.00 $283,900,000.00 $0.00 $1,384,012.50 $1,384,012.50 $283,900,000.00
- ------------------------------------------------------------------------------------------------------------------------------------
NOTE TOTALS $1,061,900,000.00 $896,373,555.27 $29,197,150.67 $4,304,997.90 $33,502,148.57 $867,176,404.60
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
B-1 $32,889,211.45 $32,889,211.45 $0.00 $164,446.06 $164,446.06 $32,889,211.45
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
CERTIFICATE TOTALS $32,889,211.45 $32,889,211.45 $0.00 $164,446.06 $164,446.06 $32,889,211.45
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
TOTALS $1,094,789,211.45 $929,262,766.72 $29,197,150.67 $4,469,443.96 $33,666,594.63 $900,065,616.05
- ------------------------------------------------------------------------------------------------------------------------------------
FACTOR INFORMATION PER $1,000
PRINCIPAL INTEREST END PRINCIPAL
CLASS DISTRIBUTION DISTRIBUTION BALANCE
- ----------------------------------------------------------------------------------------------
<S> <C> <C> <C>
A-1 113.16725066 1.61342857 245.25738217
-----------------------
A-2 0.00000000 4.78916667 1,000.00000000
-----------------------
A-3 0.00000000 4.83333332 1,000.00000000
-----------------------
A-4 0.00000000 4.87500000 1,000.00000000
-----------------------
- ----------------------------------------------------------------------------------------------
Notes Totals 27.49519792 4.05405208 816.62718203
- ----------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------
B-1 0.00000000 5.00000008 1,000.00000000
- ----------------------- -----------------------
- ----------------------------------------------------------------------------------------------
Certificate Totals 0.00000000 5.00000008 1,000.00000000
- ----------------------------------------------------------------------------------------------
- ----------------------------------------------------------------------------------------------
TOTALS 26.66919839 4.08246986 822.13599352
- ----------------------------------------------------------------------------------------------
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
- ------------------------------------------------------------------------------------------------------------------------------------
CHASE MANHATTAN AUTO OWNER TRUST
SERIES 1998-C
STATEMENT TO CERTIFICATEHOLDERS
====================================================================================================================================
- ------------------------------------------------------------------------------------------------------------------------------------
PERIOD 6 PAGE # 2
DETERMINATION: 10-Dec-98 Beginning 11/1/98
DISTRIBUTION: 15-Dec-98 Ending 11/30/98
TIME: 1/6/99 14:19
per $1000
<S> <C> <C>
Section 5.8 (iii) Servicing Fee $774,385.64 0.70733766
Section 5.8 (iv) Administration Fee $1,000.00 0.00091342
Section 5.8 (vi) Pool Balance at the end of the Collection Period $900,065,616.05
Section 5.8 (vii) Repurchase Amounts for Repurchased Receivable
By Seller $0.00
By Servicer $0.00
TOTAL $0.00
Section 5.8 (viii) Realized Net Losses for Collection Period $237,094.15
Section 5.8 (ix) Reserve Account Balance after Disbursement $27,001,968.48
Section 5.8 (x) Specified Reserve Account Balance $27,001,968.48
Section 5.8 (xi) Total Distribution Amount $35,872,052.71
Servicing Fee $774,385.64
Administrative Fee $1,000.00
Noteholders' Distribution Amount $33,502,148.57
Certificateholders' Distribution Amount $ 164,446.06
Deposit to Reserve Account $1,430,072.44
Section 5.8 (xii) Noteholders' Distributable Amount
--------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
--------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
A-1 $29,197,150.67 $416,264.57 $29,613,415.24 113.16725066 1.61342857 114.78067922
A-2 $0.00 $933,887.50 $933,887.50 0.00000000 4.78916667 4.78916667
A-3 $0.00 $1,570,833.33 $1,570,833.33 0.00000000 4.83333332 4.83333332
A-4 $0.00 $1,384,012.50 $1,384,012.50 0.00000000 4.87500000 4.87500000
--------------------------------------------------------------------------------------------------------------------------------
Total $29,197,150.67 $4,304,997.90 $33,502,148.57 27.49519792 4.05405208 31.54925000
--------------------------------------------------------------------------------------------------------------------------------
Section 5.8 (xiii) Certificateholders' Distributable Amount
-------------------------------------------------------------------------------------------------------------------------------
Class Principal Interest Total Prin (per $1000/orig) Int (per $1000/orig) Total (per $1000/orig)
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
B-1 $0.00 $164,446.06 $164,446.06 0.00000000 5.00000008 5.00000008
-------------------------------------------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------------------------------------------
Total $0.00 $164,446.06 $164,446.06 0.00000000 5.00000008 5.00000008
-------------------------------------------------------------------------------------------------------------------------------
Section 5.8 (xiv) Reserve Fund Transfer Amount $ 1,430,072.44
(C) COPYRIGHT 1998, CHASE MANHATTAN BANK
- ------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
