<PAGE>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------------------
FORM 10-K
FOR ANNUAL AND TRANSITION REPORTS
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
(Mark One)
X ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
- --- SECURITIES EXCHANGE ACT OF 1934.
For the Fiscal Year Ended: December 31, 1999
OR
_____ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934.
For the transition period from _____ to _____
Commission file numbers 33-94190, 333-04607 and 333-74303
Chase Credit Card Master Trust
(formerly known as "Chemical Master Credit Card Trust I") (issuer)
Chase Manhattan Bank USA, National Association (depositor)
(Exact name of registrant as specified in its charter)
USA 22-2382028
(State of Other Jurisdiction of (IRS Employer Identification Number)
Incorporation or Organization)
802 Delaware Avenue, Wilmington, Delaware 19801
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5050
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Name of Each Exchange of Which Registered
NONE N/A
Securities registered pursuant to Section 12(g) of the Act:
NONE
(Title of Class)
Indicate by check mark whether the registrant (1) has filed all reports
required to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934 during the preceding 12 months (or for such reports), and (2) has been
subject to such filing requirements for the last 90 days: Yes X No
--- ---
Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K or any amendment to this Form 10-K. X
---
<PAGE>
State the aggregate market value of the voting and non-voting common
equity held by non-affiliates of the registrants. The aggregate value shall be
computed by reference to the price at which the common equity was sold, or the
average bid and asked prices of such common equity, as of a specified date
within 60 days prior to the date of filing.
The registrant has no voting or non-voting common outstanding as of the
date of this report. The registrant is a trust that has issued
certificates of beneficial interest in the trust assets.
DOCUMENTS INCORPORATED BY REFERENCE.
List hereunder the following documents if incorporated by reference and
the Part of the Form 10-K (e.g., Part I, Part II, etc.) into which the document
is incorporated: (1) any annual report to security holders; (2) any proxy or
information statement; and (3) any prospectus filed pursuant to Rule 424(b) or
(c) under the Securities Act of 1933. The listed documents should be clearly
described for identification purposes (e.g., annual report to security holders
for fiscal year ended December 31, 1999).
None.
<PAGE>
Introductory Note
Chase Master Credit Card Trust I (the predecessor of Chase Credit Card
Master Trust (the "Trust") was formed pursuant to a Pooling and Servicing
Agreement, as amended (the "Agreement") between The Chase Manhattan Bank
(formerly known as Chemical Bank), as seller and servicer, and an unrelated
trustee (the "Trustee"). The Trust files reports pursuant to Section 13, 15(d)
and 16 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"),
in the manner described in letters dated January 16, 1991 and March 14, 1991,
submitted to the Office of Chief Counsel on behalf of the originators of the
Trust. Accordingly, responses to certain Items have been omitted from or
modified in this Annual Report on Form 10-K.
The Chase Credit Card Master Trust is the Issuer of Asset Backed
Certificates, Series 1995-2, Series 1995-3, Series 1995-4, Series 1996-1, Series
1996-2, Series 1996-3, Series 1996-4, Series 1997-1, Series 1997-2, Series
1997-3, Series 1997-4, Series 1997-5, Series 1998-2, Series 1998-3, Series
1998-5, Series 1998-6, Series 1999-1, Series 1999-2 and Series 1999-3.
<PAGE>
Part I
Item 1. Business
Omitted.
Item 2. Properties
Pursuant to the Agreement, the Bank has transferred to the Trust from
time to time the receivables (the "Receivables") arising in certain designated
credit card accounts.
The aggregate Investor Default Amount for the year ended December 1999
was $958,577,476.00. There were no Investor Charge-offs for the same period. As
of December 31, 1999, Accounts designated for the Master Trust having an
aggregate balance of $250,538,821.15, or 1.26% of all Receivables, were
delinquent 30 - 59 days; Accounts having an aggregate balance of
$183,154,249.55, or .92% of all Receivables, were delinquent 60 - 89 days; and
Accounts having an aggregate balance of $259,279,134.38, or 1.94% of all
Receivables, were delinquent 90 days or more.
Item 3. Legal Proceedings
The Registrant knows of no material pending legal proceedings with
respect to the Trust, the Trustee, The Chase Manhattan Bank or Chase Manhattan
Bank USA, National Association
Item 4. Submission of Matters to a Vote of Security Holders
No matter was submitted to a vote of Certificateholders during the
fiscal year covered by this report.
<PAGE>
Part II
Item 5. Market for Registrant's Common Equity and Related
Stockholders Matters
To the knowledge of the registrant, the Certificates are traded in the
over-the-counter market to a limited extent.
As of December 31, 1999, all of the Certificates were registered in the
name of CEDE and Co. The registrant understands that CEDE and Co. is the nominee
for the Depository Trust Company ("DTC"). The registrant further understands
that DTC has no knowledge of the actual beneficial owners of the Certificates
held of record by CEDE & Co., and that DTC knows only the identity of the
participants to those whose accounts such Certificates are credited, who may or
may not be the beneficial owners of the Certificates. The Commission has
concurred with the registrant's position that the registrant may consider
holders of interests in the DTC System or DTC participants to be "holders of
record" and the following information is presented on that basis:
Series # of Holders
--------- ------------------
1995-2 Class A 72
Class B 3
1995-3 Class A 64
Class B 7
1995-4 Class A 15
Class B 2
1996-1 Class A 58
Class B 9
1996-2 Class A 47
Class B 5
1996-3 Class A 35
Class B 2
1996-4 Class A 34
Class B 6
1997-1 Class A 23
Class B 5
1997-2 Class A 56
Class B 6
1997-3 Class A 10
Class B 2
1997-4 Class A 14
Class B 2
1997-5 Class A 36
Class B 2
1998-2 Class A 5
Class B 2
1998-3 Class A 55
Class B 3
1998-5 Class A 7
Class B 2
1998-6 Class A 27
Class B 7
1999-1 Class A 11
Class B 4
1999-2 Class A 1
Class B 3
1999-3 1
<PAGE>
Item 6. Selected Financial Data
Omitted.
Item 7. Management's Discussion and Analysis of Financial Condition
and Results of Operations
Omitted.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9. Changes in and Disagreements with Accountants on Accounting
and Financial Disclosure
None.
<PAGE>
Part III
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11. Executive Compensation
Omitted.
Item 12. Security Ownership of Certain Beneficial Owners and Management
For the purposes of this Item 12, the records of DTC indicate that at
December 31, 1999, the participants in the DTC system that held positions in
Certificates representing interests in the Trust equal to more than 5% of the
total principal amount of one or more classes of Certificates outstanding on
that date are as follows:
<TABLE>
<CAPTION>
- --------------------------------------------------------------------------------------------
Name & Address of Participant Original Certificate % of Class
Principal Balance
- --------------------------------------------------------------------------------------------
<S> <C> <C> <C>
Series 1995-2 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 97,198,000 16.20%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 48,150,000 8.03%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 32,718,000 5.45%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 59,935,000 9.99%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Fifth Third Bank 40,900,000 6.82%
/State Teachers Retirement of Ohio
275 East Broad Street
Columbus, OH 43215
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 30,500,000 5.08%
801 S. Canal C-In
Chicago, Il 60607
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 61,625,000 10.27%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 5,000,000 14.67%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 19,090,000 56.00%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
FUNB - PHILA. Main 10,000,000 29.33%
123 South Broad Street
Philadelphia, PA 19109
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1995-3 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 77,378,000 17.20%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 70,220,000 15.60%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 42,100,000 9.36%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 72,332,000 16.07%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 67,727,000 15.05%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 14,550,000 56.91%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Chase Securities Inc. 5,000,000 19.56%
55 Water Street, Room 434
New York, NY 10041
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 2,500,000 9.78%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Series 1995-4 Class A
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Bank of New York (The) 37,500,000 12.50%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 20,060,000 6.69%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 72,265,000 24.09%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Chase Bank/Greenwich Capital 26,000,000 8.67%
4 New York Plaza
21 Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Fuji Bank and Trust Company (The) 50,000,000 16.67%
2 World Trade Center, 81st Floor
New York, NY 10048
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 41,000,000 13.67%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 11,428,000 53.33%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
Citibank, N.A. 10,000,000 46.67%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1996-1 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 64,352,500 9.19%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 97,095,000 13.87%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 82,598,000 11.80%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 93,490,000 13.36%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 38,750,000 5.54%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 38,910,000 5.56%
801 S. Canal C-In
Chicago, IL 60607
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 96,425,000 13.78%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 8,500,000 21.37%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 3,200,000 8.05%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 12,500,000 31.43%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Commerce Bank of Kansas City, N.A. 2,150,000 5.41%
922 Walnut
Kansas City, MO 64106
- --------------------------------------------------------------------------------------------
FUNB - PHILA. Main 2,772,000 7.00%
123 South Broad Street
Philadelphia, PA 19109
- --------------------------------------------------------------------------------------------
SSB - Bank Portfolio 8,000,000 20.11%
1776 Heritage Dr.
Global Corporate Action Unit JAB
5NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Series 1996-2 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 84,520,000 15.37%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 102,300,000 18.60%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 96,780,000 17.60%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 52,705,000 9.58%
801 S. Canal C-In
Chicago, IL 60607
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 65,140,000 11.84%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Suntrust Bank/Safekeeping 50,000,000 9.09%
Custodian for STES
303 Peachtree Street,
23rd Floor
Atlanta, GA 30302
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 20,250,000 64.80%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Chase Securities Inc. 3,500,000 11.20%
55 Water Street, Room 434
New York, NY 10041
- --------------------------------------------------------------------------------------------
Commerce Bank of Kansas City, N.A. 4,750,000 15.20%
922 Walnut
Kansas City, MO 64106
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 2,500,000 8.00%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Series 1996-3 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 61,349,000 14.89%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 34,510,000 8.38%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 101,975,000 24.75%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Deutsche Bank Securities Inc. 22,945,000 5.57%
175 Water Street
New York, NY 10038
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 85,680,000 20.80%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Citibank, N.A. 22,408,000 95.73%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Series 1996-4 Class A
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 96,685,000 6.91%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 334,170,000 23.87%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 245,850,052 17.56%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 206,366,000 14.75%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 15,000,000 12.86%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 12,666,000 10.86%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 10,000,000 8.57%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 49,000,000 42.00%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Fuji Bank and Trust Company (The) 25,000,000 21.43%
2 World Trade Center, 81st Floor
New York, NY 10048
- --------------------------------------------------------------------------------------------
Series 1997-1 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 88,250,000 7.67%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 60,000,000 5.22%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Chase Bank of Texas, N.A. 187,900,000 16.34%
P.O. Box 2558
Houston, TX 77252-8009
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 249,655,000 21.71%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 100,010,000 8.70%
Correspondence
Clearing Services
4 New York Plaza
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 199,500,000 13.35%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 61,325,000 5.33%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 25,000,000 26.09%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 41,833,000 43.65%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 21,000,000 21.91%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 7,000,000 7.30%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Series 1997-2 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 106,605,500 7.11%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 82,060,000 5.47%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 98,005,000 6.53%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 439,268,000 29.28%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 102,550,000 6.84%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 83,746,000 5.58%
801 S. Canal C-In
Chicago, IL 60607
- --------------------------------------------------------------------------------------------
Prudential Securities Custody 92,010,000 6.13%
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 155,665,000 10.38%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank of New York (The) 35,000,000 41.07%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 17,227,000 20.21%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Prudential Securities Custody 17,000,000 19.95%
c/o ADP Proxy Services
51 Mercedes Way
Edgewood, NY 11717
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 12,000,000 14.08%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Series 1997-3 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 34,000,000 13.60%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
The Bank of New York/CDC-FP 55,900,000 22.36%
One Wall Street
New York, NY 10286
- --------------------------------------------------------------------------------------------
Compass Bank 46,000,000 18.40%
701 South 20th Street - 11th Floor
Birmingham, AL 35233
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 53,000,000 21.20%
801 S. Canal C-In
Chicago, IL 60607
- --------------------------------------------------------------------------------------------
Zions-EPA 20,000,000 8.00%
c/o Desert Trust Company
P.O. Box 11558
Salt Lake City, UT 84147-0558
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 15,833,000 76.00%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 5,000,000 24.00%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
Series 1997-4 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 170,000,000 28.33%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 207,000,000 34.50%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Citibank, N.A. 63,000,000 10.50%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Lasalle National Bank 38,000,000 6.33%
c/o ADP Proxy Services
- --------------------------------------------------------------------------------------------
Norwest Bank Minnesota, 40,000,000 6.67%
National Association
733 Marquette Avenue
Minneapolis, MN 55479-0056
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 31,000,000 5.17%
801 S. Canal C-In
Chicago, IL 60607
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 41,666,000 83.33%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 8,334,000 16.67%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1997-5 Class A
- --------------------------------------------------------------------------------------------
Bankers Trust Company 68,555,000 13.71%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 50,030,000 10.01%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Brown Brothers Harriman & Co. 61,465,000 12.29%
63 Wall Street, 8th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 47,960,000 9.59%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 58,730,000 11.75%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
PNC Bank, National Association 35,115,000 7.02%
1600 Market Street
29th Floor
Philadelphia, PA 19103
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 83,320,000 16.66%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank of New York (The) 18,409,000 64.80%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Citibank, N.A. 10,000,000 35.20%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1998-2 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 200,000,000 25.00%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 65,000,000 8.13%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 370,000,000 46.25%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Deutsche Bank A.G., New York 75,000,000 9.38%
Branch
31 West 52nd Street
New York, NY 10019
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 90,000,000 11.25%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 60,000,000 90.00%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 6,666,000 10.00%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Series 1998-3 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 71,055,000 11.84%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 88,755,000 14.79%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 82,870,000 13.81%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 71,230,000 11.87%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 62,760,000 10.46%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Northern Trust Company (The) 40,410,000 6.74%
801 S. Canal C-In
Chicago, IL 60607
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 100,410,000 16.74%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank of New York (The) 12,090,000 35.46%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 17,000,000 48.88%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
First Union Securities, Inc. 5,000,000 14.67%
8739 Research Blvd.
Charlotte, NC 28262-0675
- --------------------------------------------------------------------------------------------
Series 1998-5 Class A
- --------------------------------------------------------------------------------------------
Bankers Trust Company 275,000,000 42.31%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 50,000,000 7.69%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 167,000,000 25.69%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 54,000,000 8.31%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
Norwest Bank Minnesota, 54,000,000 8.31%
National Association
733 Marquette Avenue
Minneapolis, MN 55479-0056
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bankers Trust Company 39,000,000 72.00%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 15,166,000 28.00%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1998-6 Class A
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Bank of New York (The) 47,690,000 7.33%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 99,255,000 15.27%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 219,545,000 33.78%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 170,210,000 26.19%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 56,370,000 8.67%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank of New York (The) 12,500,000 23.08%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 9,066,000 16.74%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 13,000,000 24.00%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
Harris Trust & Savings Bank 4,000,000 7.38%
Proxy Operations
41 South High Street
Columbus, OH 43287
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 13,500,000 24.92%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1999-1 Class A
- --------------------------------------------------------------------------------------------
Bank of New York (The) 103,000,000 13.73%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Boston Safe Deposit and Trust 110,000,000 14.67%
Company
c/o Mellon Bank N.A.
Three Mellon Bank Center
Room 153-3015
Pittsburgh, PA 15259
- --------------------------------------------------------------------------------------------
Brown Brothers Harriman & Co. 38,000,000 5.07%
63 Wall Street, 8th Floor
New York, NY 10005
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 207,000,000 27.60%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Citibank, N.A. 85,000,000 11.33%
P.O. Box 30576
Tampa, FL 33630-3576
- --------------------------------------------------------------------------------------------
State Street Bank and Trust Co. 80,000,000 10.67%
1776 Heritage Dr.
Global Corp. Action Unit JAB 5 NW
No. Quincy, MA 02171
- --------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<S> <C> <C> <C>
- --------------------------------------------------------------------------------------------
U.S. Bank National Association 67,500,000 9.00%
MPFP 1603 Proxy Unit
601 Second Avenue South
Minneapolis, MN 55402
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank of New York (The) 10,000,000 16.00%
925 Patterson Plank Rd.
Secaucus, NJ 07094
- --------------------------------------------------------------------------------------------
Bankers Trust Company 17,500,000 28.00%
c/o BT Services Tennessee Inc.
648 Grassmere Park Drive
Nashville, TN 37211
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 15,000,000 24.00%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
Fuji Bank and Trust Company (The) 20,000,000 32.00%
2 World Trade Center, 81st Floor
New York, NY 10048
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1999-2 Class A
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 500,000,000 100.00%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Class B
- --------------------------------------------------------------------------------------------
Bank One Trust Company, N.A. 14,666,000 35.20%
1900 Polaris Parkway
4th Floor
Columbus, OH 43240
- --------------------------------------------------------------------------------------------
Chase Manhattan Bank 8,000,000 19.20%
4 New York Plaza
13th Floor
New York, NY 10004
- --------------------------------------------------------------------------------------------
Fuji Bank and Trust Company (The) 19,000,000 45.60%
2 World Trade Center, 81st Floor
New York, NY 10048
- --------------------------------------------------------------------------------------------
- --------------------------------------------------------------------------------------------
Series 1999-3 Chase Credit Card Owner Trust 100%
1999-3
- --------------------------------------------------------------------------------------------
</TABLE>
Item 13. Certain Relationships and Related Transactions
Omitted.
<PAGE>
Part IV
Item 14. Exhibits, Financial Statement Schedules, and Reports of Form 8-K
(a) The following documents are filed as part of this
Annual Report on Form 10-K.
Exhibit Number Description
-------------- -----------
23.1 Consent of Independent Accountants.
28.1 Annual Servicer's Certificate pursuant to Section
3.05 of the Agreement.
28.2 Management Report on Internal Control.
28.3 Annual Independent Accountants' Reports pursuant to
Section 3.06 of the Agreement.
(b) Reports on Form 8-K.
The following Current Reports on Form 8-K were filed by the registrant
during 1999:
(1) Current Report on Form 8-K, filed on January 20, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the January 15, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(2) Current Report on Form 8-K, filed on January 20, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the January 15, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5 and Series 1998-6.
(3) Current Report on Form 8-K, filed on February 12, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the November 15, 1998, December 15, 1998 and January 15, 1999 distribution
with respect to Series 1995-4.
(4) Current Report on Form 8-K, filed on February 22, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the February 15, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(5) Current Report on Form 8-K, filed on February 22, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the February 15, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5 and Series 1998-6.
(6) Current Report on Form 8-K, filed on June 18, 1999, reporting Items
5 and 7, providing the Monthly Certificateholders' Statement with respect to the
March 15, 1999, April 15, 1999 and May 17, 1999 distribution with respect to
Series 1995-2, Series 1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(7) Current Report on Form 8-K, filed on June 18, 1999, reporting Items
5 and 7, providing the Monthly Certificateholders' Statement with respect to the
February 15, 1999, March 15, 1999 and April 15, 1999 distribution with respect
to Series 1995-4.
<PAGE>
(8) Current Report on Form 8-K, filed on June 18, 1999, reporting Items
5 and 7, providing the Monthly Certificateholders' Statement with respect to the
March 15, 1999, April 15, 1999 and May 17, 1999 distribution with respect to
Series 1996-4, Series 1997-1, Series 1997-2, Series 1997-3, Series 1997-4,
Series 1997-5, Series 1998-2, Series 1998-3, Series 1998-5 and Series 1998-6.
(9) Current Report on Form 8-K, filed on June 30, 1999, reporting Items
5 and 7, providing the Monthly Certificateholders' Statement with respect to the
June 15, 1999 distribution with respect to Series 1995-2, Series 1995-3, Series
1996-1, Series 1996-2 and Series 1996-3.
(10) Current Report on Form 8-K, filed on June 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the June 15, 1999 distribution with respect to Series 1996-4, Series 1997-1,
Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series 1998-2,
Series 1998-3, Series 1998-5, Series 1998-6 and Series 1999-1.
(11) Current Report on Form 8-K, filed on June 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the April 15, 1999 and May 17, 1999 distribution with respect to Series
1999-1.
(12) Current Report on Form 8-K, filed on July 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the July 15, 1999 distribution with respect to Series 1995-2, Series 1995-3,
Series 1996-1, Series 1996-2 and Series 1996-3.
(13) Current Report on Form 8-K, filed on July 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the May 17, 1999, June 15, 1999 and July 15, 1999 distribution with respect
to Series 1995-4.
(14) Current Report on Form 8-K, filed on July 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the July 15, 1999 distribution with respect to Series 1996-4, Series 1997-1,
Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series 1998-2,
Series 1998-3, Series 1998-5, Series 1998-6 and Series 1999-1.
(15) Current Report on Form 8-K, filed on August 27, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the August 16, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(16) Current Report on Form 8-K, filed on August 27, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the August 16, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5, Series 1998-6, Series 1999-1 and Series
1999-2.
(17) Current Report on Form 8-K, filed on September 22, 1999, reporting
Items 5 and 7, providing the Collateral Term Sheet with respect to the September
20, 1999 distribution with respect to Chase Credit Card Master Trust.
(18) Current Report on Form 8-K, filed on September 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the September 15, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(19) Current Report on Form 8-K, filed on September 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the September 15, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5, Series 1998-6, Series 1999-1 and Series
1999-2
(20) Current Report on Form 8-K, filed on October 8, 1999, reporting
Items 5 and 7, providing the Assignment No. 11 of Receivables in Additional
Accounts on October 1, 1999 with respect to Chase Credit Card Master Trust.
<PAGE>
(21) Current Report on Form 8-K, filed on October 29, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the October 15, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1995-4, Series 1996-1, Series 1996-2 and Series 1996-3.
(22) Current Report on Form 8-K, filed on October 29, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the August 16, 1999, September 15, 1999 and October 15, 1999 distribution
with respect to Series 1995-4.
(23) Current Report on Form 8-K, filed on October 29, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the October 15, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5, Series 1998-6, Series 1999-1 and Series
1999-2.
(24) Current Report on Form 8-K, filed on November 22, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the November 15, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(25) Current Report on Form 8-K, filed on November 22, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the November 15, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5, Series 1998-6, Series 1999-1 and Series
1999-2.
(26) Current Report on Form 8-K, filed on November 30, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the November 15, 1999 distribution with respect to Series 1999-3.
(27) Current Report on Form 8-K, filed on December 23, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the December 15, 1999 distribution with respect to Series 1995-2, Series
1995-3, Series 1996-1, Series 1996-2 and Series 1996-3.
(28) Current Report on Form 8-K, filed on December 23, 1999, reporting
Items 5 and 7, providing the Monthly Certificateholders' Statement with respect
to the December 15, 1999 distribution with respect to Series 1996-4, Series
1997-1, Series 1997-2, Series 1997-3, Series 1997-4, Series 1997-5, Series
1998-2, Series 1998-3, Series 1998-5, Series 1998-6, Series 1999-1, Series
1999-2 and Series 1999-3.
<PAGE>
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
Dated: March 29, 2000
Chase Credit Card Master Trust
by: The Chase Manhattan Bank
By: /s/ Patrick Margey
-----------------------------------
Name: Patrick Margey
Title: Vice President
Chase Credit Card Master Trust
by: Chase Manhattan Bank USA,
National Association
By: /s/ Patricia Garvey
-----------------------------------
Name: Patrick Garvey
Title: Vice President
<PAGE>
INDEX TO EXHIBITS
Exhibit Number: Description:
- --------------- ------------------------
23.1 Consent of Independent Accountants
28.1 Annual Servicer's Certificate pursuant to Section 3.05
of the Agreement
28.2 Management Report on Internal Controls
28.3 Annual Accountant's Report pursuant to Section 3.06
of the Agreement
<PAGE>
Exhibit 23.1
Consent of Independent Accountants
We hereby consent to the incorporation by reference in the Prospectuses
constituting part of the Registration Statements on Form S-3 (Nos. 33-94190,
333-04607 and 333-74303) of The Chase Manhattan Bank and Chase Manhattan Bank
USA, National Association of our report dated March 15, 2000 appearing as
Exhibit 23.1 of this Form 10-K.
/s/ PRICEWATERHOUSECOOPERS LLP
- -------------------------------
PRICEWATERHOUSECOOPERS LLP
New York, New York
March 15, 2000
<PAGE>
Exhibit 28.1
ANNUAL SERVICER'S CERTIFICATE
---------------------------------------------------
CHASE CREDIT CARD MASTER TRUST
(formerly known as Chemical Master Credit Card Trust I)
----------------------------------------------------
The undersigned, a duly authorized representative of The Chase
Manhattan Bank (formerly known as Chemical Bank), a banking corporation
organized and existing under the laws of the State of New York ("Chase"), as
Servicer pursuant to the Third Amended and Restated Pooling and Servicing
Agreement dated as of November 15, 1999 (the "Pooling and Servicing Agreement")
by and among Chase, Chase Manhattan Bank USA, National Association and The Bank
of New York, as trustee (the "Trustee") does hereby certify that:
1. Chase is the Servicer under the Pooling and Servicing
Agreement.
2. The undersigned is duly authorized pursuant to the Pooling
and Servicing Agreement to execute and deliver this Certificate to the Trustee.
3. This Certificate is delivered pursuant to Section 3.5 of
the Pooling and Servicing Agreement.
4. A review of the activities of the Servicer during the
calendar year ended December 31,1999 was conducted under the supervision of the
undersigned.
5. Based on such review, the Servicer has, to the best of the
knowledge of the undersigned, fully performed all its obligations under the
Pooling and Servicing Agreement throughout such period and no default in the
performance of such obligations has occurred or is continuing except as set
forth in paragraph 6 below.
6. The following is a description of each default in the
performance of the Servicer's obligations under the provisions of the Pooling
and Servicing Agreement, including any Supplement, known to the undersigned to
have been made during such period which sets forth in detail (i) the nature of
each such default, (ii) the action taken by the Servicer, if any, to remedy each
such default and (iii) the current status of each such default: NONE
IN WITNESS WHEREOF, the undersigned has duly executed this certificate
this 21st day of March, 2000.
THE CHASE MANHATTAN BANK,
as Servicer,
By CHASE MANHATTAN BANK USA,
NATIONAL ASSOCIATION
By: /s/Keith Schuck
-----------------------
Name: Keith Schuck
Title: Vice President
<PAGE>
Exhibit 28.2
[CHASE LOGO]
The Chase Manhattan Bank
Hicksville, NY
March 15, 2000
Management Report on Internal Control over
Servicing of Securitized Credit Card Receivables
- ------------------------------------------------
Management of The Chase Manhattan Bank is responsible for establishing and
maintaining an effective system of internal control over servicing of
securitized credit card receivables, which is designed to provide reasonable
assurance regarding the proper servicing of securitized credit card receivables.
The system contains self-monitoring mechanisms, and actions are taken to correct
deficiencies as they are identified.
There are inherent limitations in the effectiveness of any system of internal
control, including the possibility of human error and the circumvention or
overriding of controls. Accordingly, even an effective internal control system
can provide only reasonable assurance with respect to servicing of securitized
credit card receivables. Further, because of changes in conditions, the
effectiveness of an internal control system may vary over time.
Management of The Chase Manhattan Bank assessed its system of internal control
over servicing of securitized credit card receivables as of December 31, 1999 in
relation to criteria for effective internal control described in "Internal
Control-Integrated Framework" issued by the Committee of Sponsoring
Organizations of the Treadway Commission. Based on this assessment, management
believes that, as of December 31, 1999, The Chase Manhattan Bank maintained an
effective system of internal control over servicing of securitized credit card
receivables.
/s/Richard Srednicki
- --------------------
Richard Srednicki
Executive Vice President
The Chase Manhattan Bank
/s/ Michael Van Praag
- ---------------------
Michael Van Praag
Senior Vice President
The Chase Manhattan Bank
<PAGE>
Exhibit 28.3
Report of Independent Accountants
March 15, 2000
The Chase Manhattan Bank, Servicer
and
Chase Manhattan Bank USA, N.A., Transferor,
and
The Bank of New York, Trustee
We have examined management's assertion that, as of December 31, 1999, The Chase
Manhattan Bank maintained an effective system of internal control over servicing
of securitized credit card receivables, included in the accompanying Management
Report on Internal Control over Servicing of Securitized Credit Card
Receivables.
Our examination was made in accordance with standards established by the
American Institute of Certified Public Accountants and, accordingly included
obtaining an understanding of internal control over servicing of securitized
credit card receivables, testing and evaluating the design and operating
effectiveness of internal control, and such other procedures as we considered
necessary in the circumstances. We believe that our examination provides a
reasonable basis for our opinion.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projections of any evaluation of the system
of internal control over servicing of securitized credit card receivables to
future periods are subject to the risk that internal control may become
inadequate because of changes in conditions, or that the degree of compliance
with the policies or procedures may deteriorate.
In our opinion, management's assertion that, as of December 31, 1999, The Chase
Manhattan Bank maintained an effective system of internal control over servicing
of securitized credit card receivables, is fairly stated, in all material
respects, based upon the criteria for effective internal control described in
"Internal Control - Integrated Framework" issued by the Committee of Sponsoring
Organizations of the Treadway Commission.
/s/ PRICEWATERHOUSECOOPERS LLP
- ------------------------------
