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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: October 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 OWNER 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 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
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20.1 Monthly Statement to Certificateholders with
respect to the October 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: October 29, 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
10/15/1999 delivered pursuant to Section
5.8 of the Sale and Servicing Agreement
dated as of April 1, 1998.
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Exhibit 20.1
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Chase Manhattan Auto Owner Trust 1998-B
Statement to Certificateholders
October 15, 1999
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<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 321,000,000.00 276,754,100.11 23,932,658.90 1,326,113.40 25,258,772.30 0.00 0.00 252,821,441.21
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 1,086,404,142.65 592,158,242.76 23,932,658.90 2,857,359.29 26,790,018.19 0.00 0.00 568,225,583.86
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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 862.16230564 74.55656978 4.13119439 78.68776417 787.60573586 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 545.06257802 22.02924120 2.63010714 24.65934834 523.03333682
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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:
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]
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[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Auto Owner Trust 1998-B
October 15, 1999
STATEMENT TO CERTIFICATEHOLDERS
<TABLE>
<S> <C>
Due Period 18
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 493,465.20
Section 5.8(iii) Servicing Fee per $1000 0.45421881
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 568,225,583.86
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 71,076.15
TOTAL 71,076.15
Section 5.8(viii) Realized Net Losses for Collection Period 477,742.61
Section 5.8(ix) Reserve Account Balance after Disbursement 17,046,767.52
Section 5.8(x) Specified Reserve Account Balance 17,046,767.52
Section 5.8(xi) Total Distribution Amount 27,923,505.14
Servicing Fee 493,465.20
Administration Fee 1,000.00
Noteholders Distribution Amount 26,625,638.97
Certficateholders Distribution Amount 164,379.22
Deposit to Reserve Account 639,021.75
</TABLE>
[Image] (C) COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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