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: September 22, 1999
CHASE CREDIT CARD MASTER TRUST (formerly known as
"Chemical Master Credit Card Trust I")
- -----------------------------------------------------------------------------
(Issuer of Securities)
THE CHASE MANHATTAN BANK USA, N.A.
(Sponsor of the Trust)
- -----------------------------------------------------------------------------
(Exact name of registrant as specified in its charter)
United States 33-40006 22-2382028
- -----------------------------------------------------------------------------
(State or other (Commission File Number) (IRS Employer
jurisdiction Identification No.)
of incorporation)
802 Delaware Avenue, Wilmington, Delaware 19801
- ------------------------------------------------------- ----------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5050
Item 5. Other Events:
On Monday, September 20, 1999, Chase Securities Inc. on behalf of the
Trust distributed to the Investors a collateral term sheet. A copy of the
collateral term sheet is being filed as Exhibit 20.1 to this current report
on Form 8-K.
Item 7(c). Exhibits
Exhibits Description
---------- ---------------
20.1 Collateral Term Sheet distributed to
Investors on September 20, 1999.
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: September 22, 1999
The Chase Manhattan Bank,
as Servicer
By: /s/ Patrick Margey
-----------------------------------
Name: Patrick Margey
Title:Vice President
INDEX TO EXHIBITS
----------------------------
Exhibit No. Description
- --------------- -----------------
20.1 Collateral Term Sheet distributed to
Investors on September 20, 1999.
Exhibit 20.1
The analyses in this report are based on information provided by the
[Seller]. Chase Securities Inc. ("CSI") makes no representations as to the
accuracy or completeness of the information contained herein. The
information contained herein is qualified in its entirety by the
information in the Prospectus and Prospectus Supplement for the securities
referred to herein (the "Securities"). The information contained herein is
preliminary as of the date hereof, supersedes any previous information
delivered to you by CSI and will be superseded by the applicable final
Prospectus and Prospectus Supplement and any other information subsequently
filed with the Securities and Exchange Commission. These materials are
subject to change, completion, or amendment from time to time without
notice, and CSI is under no obligation to keep you advised of such changes.
These materials are not intended as an offer or solicitation with respect
to the purchase or sale of any Security. Any investment decision with
respect to the Securities should be made by you based upon the information
contained in the final Prospectus Supplement and Prospectus relating to the
securities. You should consult your own counsel, accountant, and other
advisors as to the legal, tax, business, financial and related aspects of a
purchase of the Securities.
ABS RESEARCH
CHASE CREDIT CARD MASTER TRUST STATISTICS
[line graph showing yield, chargeoffs and 3-month excess spread for the
period from February 1996 to July 1999, reflecting the following data: ]
Portfolio Yield Charge-Off 3-month Excess Spread
Nov-95 18.09 3.26 5.20
Dec-95 18.22 4.33 5.28
Jan-96 17.72 6.27 5.31
Feb-96 18.32 6.03 4.56
Mar-96 18.95 5.80 4.42
Apr-96 17.98 11.84 2.94
May-96 18.33 7.13 2.58
Jun-96 17.03 6.77 1.64
Jul-96 17.92 5.49 3.76
Aug-96 17.52 5.49 4.06
Sep-96 15.81 5.30 4.14
Oct-96 17.33 5.96 3.78
Nov-96 15.19 6.38 2.70
Dec-96 18.32 5.91 3.34
Jan-97 16.10 6.59 2.74
Feb-97 15.59 6.68 2.79
Mar-97 19.15 6.92 2.74
Apr-97 17.14 7.83 2.68
May-97 17.45 7.21 3.13
Jun-97 17.94 7.13 2.67
Jul-97 18.03 7.16 3.19
Aug-97 17.58 6.93 3.33
Sep-97 17.28 6.94 3.16
Oct-97 19.15 6.66 3.70
Nov-97 16.13 7.05 3.16
Dec-97 18.88 7.27 3.58
Jan-98 16.99 6.90 2.78
Feb-98 17.07 6.52 3.28
Mar-98 19.53 6.95 3.61
Apr-98 16.44 6.09 3.69
May-98 17.10 6.38 3.75
Jun-98 18.03 6.82 3.28
Jul-98 18.01 6.38 3.71
Aug-98 17.82 7.11 3.70
Sep-98 17.42 6.30 3.67
Oct-98 18.59 6.30 3.89
Nov-98 18.19 6.28 4.30
Dec-98 18.94 6.69 4.66
Jan-99 17.44 6.70 4.13
Feb-99 18.07 5.95 4.18
Mar-99 20.12 6.15 4.77
Apr-99 17.47 5.51 5.18
May-99 18.29 5.87 5.28
Jun-99 18.67 5.76 4.93
Jul-99 17.44 5.37 4.96
*Data as of July 1999
________________ Source: Bloomberg
CHASE SECURITIES INC.
ABS RESEARCH
CHASE CREDIT CARD MASTER TRUST
QUARTERLY PERFORMANCE: 1997 TO SECOND QUARTER 1999*
CHASE CREDIT CARD MASTER TRUST
QUARTERLY PORTFOLIO YIELD
[bar graph showing quarterly portfolio yield for the period from the
first quarter of 1996 to the third quarter of 1999]
CHASE CREDIT CARD MASTER TRUST
PORTFOLIO CHARGEOFFS
[bar graph showing quarterly portfolio chargeoffs for the period from the
first quarter of 1996 to the third quarter of 1999]
CHASE CREDIT CARD MASTER TRUST
QUARTERLY PORTFOLIO EXCESS SPREAD
[bar graph showing quarterly portfolio excess spread for the period from
the first quarter of 1996 to the third quarter of 1999]
[these three charts reflect the following data:]
Quarterly Quarterly Quarterly
Ave Ave Ave
Yield Chargeoff Spread
----------------------------------------
96/1 18.09 5.55 5.05
96/2 18.42 8.26 3.31
96/3 17.49 5.92 3.15
96/4 16.11 5.88 3.54
97/1 16.67 6.39 2.96
97/2 17.91 7.32 2.85
97/3 17.85 7.07 3.06
97/4 17.52 6.88 3.34
98/1 17.65 6.90 3.21
98/2 17.69 6.47 3.68
98/3 17.95 6.77 3.56
98/4 18.07 6.29 3.95
99/1 18.15 6.45 4.32
99/2 18.63 5.84 5.08
__________ Source: Bloomberg
CHASE SECURITIES INC. *Through July Distribution
ABS Research
CHASE CREDIT CARD MASTER TRUST*
MONTHLY DIFFERENCE: 1997-1998/FIRST HALF 1998-1999
CHANGE IN YIELD
[bar graph showing quarterly year-to-year change in portfolio yield for the
period from the first quarter of 1996 to the third quarter of 1999]
CHANGE IN CHARGEOFFS
[bar graph showing quarterly year-to-year change in portfolio chargeoffs
for the period from the first quarter of 1996 to the third quarter of 1999]
CHANGE IN SPREAD
[bar graph showing quarterly year-to-year change in portfolio excess spread
for the period from the first quarter of 1996 to the third quarter of 1999]
[these three charts reflect the following data:]
Difference Difference Difference
98-97 98-97 98-97
Yield Chargeoff Spread
----------------------------------------
Jan 0.56 1.36 0.24
Feb 0.89 0.31 0.04
Mar 1.48 (0.16) 0.49
Apr 0.38 0.03 0.87
May (0.70) (1.74) 1.01
Jun (0.35) (0.83) 0.62
Jul 0.09 (0.31) 0.61
Aug (0.02) (0.78) 0.52
Sep 0.24 0.18 0.37
Oct 0.14 (0.64) 0.51
Nov (0.56) (0.36) 0.19
Dec 2.06 (0.77) 1.14
Jan** 0.06 (0.58) 1.08
Feb** 0.45 (0.20) 1.35
Mar** 1.00 (0.57) 0.90
Apr** 0.59 (0.80) 1.16
May** 1.03 (0.58) 1.49
Jun** 1.19 (0.51) 1.53
Jul** 0.64 (1.06) 1.65
__________ Source: Bloomberg
CHASE SECURITIES INC. *Through July Distribution
**Difference from 1998 to 1999
ABS RESEARCH
CHASE CREDIT CARD MASTER TRUST PERFORMANCE
CREDIT CARD CHARGEOFFS
[line graph showing chargeoffs for Chase Credit Card Master Trust, MBNA
Master Trust and the Moody's Aggregate Issuer Index for the period from
December 1995 to July 1999]
PORTFOLIO YIELD
[line graph showing portfolio yield for Chase Credit Card Master Trust,
MBNA Master Trust and the Moody's Aggregate Issuer Index for the period
from December 1995 to July 1999]
3 MONTH AVERAGE EXCESS SPREAD
[line graph showing 3 month average excess spread for Chase Credit Card
Master Trust, MBNA Master Trust and the Moody's Aggregate Issuer Index for
the period from December 1995 to July 1999]
[these three charts reflect the following data:]
MOODY'S Aggregate Issuer Indexes (%)
3mo ave
Date Chargeoffs Yield excess spread
Jan-95 4.10 17.99 5.40
Feb-95 4.05 18.47 5.58
Mar-95 4.02 19.27 5.75
Apr-95 4.09 18.21 5.85
May-95 4.04 18.73 5.90
Jun-95 3.90 18.07 5.54
Jul-95 4.03 18.08 5.59
Aug-95 4.12 18.28 5.50
Sep-95 4.27 17.63 5.33
Oct-95 4.21 18.07 5.26
Nov-95 4.33 17.69 5.04
Dec-95 4.54 17.69 4.93
Jan-96 4.49 17.27 4.61
Feb-96 4.58 17.77 4.70
Mar-96 5.00 18.36 4.93
Apr-96 5.40 17.66 4.83
May-96 5.43 17.96 4.52
Jun-96 5.73 17.61 4.16
Jul-96 5.66 18.18 4.26
Aug-96 5.47 18.34 4.42
Sep-96 5.59 17.89 4.56
Oct-96 5.59 18.47 4.74
Nov-96 6.07 18.00 4.54
Dec-96 6.10 18.71 4.61
Jan-97 6.39 17.88 4.05
Feb-97 6.40 18.06 4.11
Mar-97 6.72 19.58 4.29
Apr-97 7.10 18.31 4.32
May-97 6.93 18.72 4.12
Jun-97 6.87 18.63 3.76
Jul-97 7.01 19.28 4.07
Aug-97 6.59 18.81 4.25
Sep-97 6.69 18.96 4.38
Oct-97 6.60 19.59 4.53
Nov-97 6.71 18.44 4.43
Dec-97 6.65 19.54 4.54
Jan-98 6.48 18.40 4.23
Feb-98 6.63 18.85 4.45
Mar-98 6.63 20.28 4.82
Apr-98 6.59 18.74 4.93
May-98 6.64 19.11 4.92
Jun-98 6.65 19.23 4.57
Jul-98 6.21 19.98 5.04
Aug-98 6.21 19.83 5.46
Sep-98 6.23 19.10 5.57
Oct-98 6.11 20.05 6.18
Nov-98 6.25 19.47 5.69
Dec-98 5.92 19.73 6.02
Jan-99 6.00 19.25 5.90
Feb-99 6.05 19.64 6.16
Mar-99 5.94 20.29 6.48
Apr-99 5.76 18.60 6.93
May-99 6.08 19.72 6.54
Jun-99 5.90 19.01 5.99
Jul-99
Portfolio Yield Charge-Off 3-month Excess Spread
Nov-95 18.09 3.26 5.20
Dec-95 21 18.22 4.33 5.28
Jan-96 20 17.72 6.27 5.31
Feb-96 21 18.32 6.03 4.56
Mar-96 20 18.95 5.80 4.42
Apr-96 21 17.98 11.84 2.94
May-96 21 18.33 7.13 2.58
Jun-96 22 17.03 6.77 1.64
Jul-96 20 17.92 5.49 3.76
Aug-96 22 17.52 5.49 4.06
Sep-96 22 15.81 5.30 4.14
Oct-96 20 17.33 5.96 3.78
Nov-96 22 15.19 6.38 2.70
Dec-96 19 18.32 5.91 3.34
Jan-97 21 16.10 6.59 2.74
Feb-97 25 15.59 6.68 2.79
Mar-97 23 19.15 6.92 2.74
Apr-97 26 17.14 7.83 2.68
May-97 26 17.45 7.21 3.13
Jun-97 25 17.94 7.13 2.67
Jul-97 26 18.03 7.16 3.19
Aug-97 26 17.58 6.93 3.33
Sep-97 25 17.28 6.94 3.16
Oct-97 26 19.15 6.66 3.70
Nov-97 23 16.13 7.05 3.16
Dec-97 26 18.88 7.27 3.58
Jan-98 24 16.99 6.90 2.78
Feb-98 23 17.07 6.52 3.28
Mar-98 27 19.53 6.95 3.61
Apr-98 26 16.44 6.09 3.69
May-98 25 17.10 6.38 3.75
Jun-98 26 18.03 6.82 3.28
Jul-98 27 18.01 6.38 3.71
Aug-98 26 17.82 7.11 3.70
Sep-98 25 17.42 6.30 3.67
Oct-98 25 18.59 6.30 3.89
Nov-98 24 18.19 6.28 4.30
Dec-98 26 18.94 6.69 4.66
Jan-99 25 17.44 6.70 4.13
Feb-99 26 18.07 5.95 4.18
Mar-99 27 20.12 6.15 4.77
Apr-99 26 17.47 5.51 5.18
May-99 25 18.29 5.87 5.28
Jun-99 26 18.67 5.76 4.93
Jul-99 26 17.44 5.37 4.96
Aug-99 26
MBNAM
Portfolio Yield Charge-Off 3-month Excess Spread
Dec-95 17.18 3.17 5.32
Jan-96 17.13 3.51 5.17
Feb-96 17.35 3.80 5.10
Mar-96 18.18 3.92 5.41
Apr-96 18.38 4.06 5.91
May-96 16.71 3.94 5.86
Jun-96 17.22 4.18 5.33
Jul-96 16.85 4.11 5.12
Aug-96 16.87 4.38 4.96
Sep-96 17.70 4.00 5.25
Oct-96 17.10 4.26 5.21
Nov-96 16.74 3.73 5.43
Dec-96 17.08 3.86 5.34
Jan-97 17.30 3.97 5.41
Feb-97 17.09 4.81 4.94
Mar-97 16.84 4.37 4.93
Apr-97 17.84 4.50 5.04
May-97 16.23 4.55 5.03
Jun-97 17.28 4.53 4.72
Jul-97 17.16 4.60 4.38
Aug-97 17.53 4.92 4.63
Sep-97 17.46 4.84 4.67
Oct-97 17.46 4.80 4.64
Nov-97 18.37 4.61 4.92
Dec-97 17.42 5.01 5.03
Jan-98 18.25 4.64 5.16
Feb-98 17.84 4.71 4.97
Mar-98 16.74 4.83 4.88
Apr-98 18.54 4.85 5.08
May-98 18.66 4.96 5.44
Jun-98 17.95 5.01 5.51
Jul-98 17.67 5.10 5.15
Aug-98 19.08 5.09 5.36
Sep-98 18.72 4.98 5.73
Oct-98 18.93 4.98 5.98
Nov-98 17.96 4.96 5.77
Dec-98 18.72 4.98 5.77
Jan-99 18.12 4.95 5.70
Feb-99 17.82 6.13 5.83
Mar-99 19.18 5.12 6.15
Apr-99 17.83 5.23 5.97
May-99 19.45 4.88 6.51
Jun-99 17.44 5.06 5.97
Jul-99 18.7 4.97 6.26
Aug-99
*Data as of July 1999
__________ Source: Bloomberg
CHASE SECURITIES INC.
