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 16, 2000
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
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(Originator of the Trust referred to herein)
CHASE MANHATTAN AUTO OWNER TRUST 1998-A
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(Issuer)
(Exact name of the registrant as specified in its charter)
United States 333-36939 22-2382082
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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
Item 5. Other Events:
Chase Manhattan Auto Owner Trust 1998-A is the issuer of 4 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 February 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 16, 2000, 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
Certificateholder with respect to
the October 16, 2000 distribution.
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 17, 2000
By: THE CHASE MANHATTAN BANK,
USA, NATIONAL ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
-----------------------------
Name: Patricia Garvey
Title: Vice President
INDEX TO EXHIBITS
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Exhibit No. Description
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20.1 Statement to Certificateholders dated
October 16, 2000 delivered pursuant to
Section 5.8 of the Sale and Servicing
Agreement dated as of February 1, 1998.
Page 1
Chase Manhattan Auto Owner Trust 1998-A
Statement to Certificateholders
October 16 2000
DISTRIBUTION IN DOLLARS
ORIGINAL PRIOR
FACE PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL
A1 238,000,000.00 0.00 0.00 0.00 0.00
A2 204,000,000.00 0.00 0.00 0.00 0.00
A3 294,000,000.00 0.00 0.00 0.00 0.00
A4 246,000,000.00 241,212,364.11 15,154,325.43 1,165,859.76 16,320,185.19
B1 30,620,164.79 30,620,164.79 0.00 153,100.82 153,100.82
TOTALS 1,012,620,164.79 271,832,528.90 15,154,325.43 1,318,960.58 16,473,286.01
CURRENT
REALIZED DEFERRED PRINCIPAL
CLASS LOSES INTEREST BALANCE
A1 0.00 0.00 0.00
A2 0.00 0.00 0.00
A3 0.00 0.00 0.00
A4 0.00 0.00 226,058,038.68
B1 0.00 0.00 30,620,164.79
TOTALS 0.00 0.00 256,678,203.47
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE
PRIOR CURRENT
PRINCIPAL PRINCIPAL
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR
A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A3 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000
A4 980.53806549 61.60294890 4.73926732 66.34221622 918.93511659
B1 1,000.00000000 0.00000000 4.99999987 4.99999987 1,000.00000000
TOTALS 268.44471239 14.96545887 1.30252253 16.26798140 253.47925352
PASS-THROUGH RATES
CURRENT
CLASS PASS THRU
CLASS RATE
A1 A1 5.549000 %
A2 A2 5.679000 %
A3 A3 5.700000 %
A4 A4 5.800000 %
B1 B1 6.000000 %
TOTALS
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: kimberly.k.costa@chase.com
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 2
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
STATEMENT TO CERTIFICATEHOLDERS
Due Period 32
Due Period Beginning Date 09/01/00
Due Period End Date 09/30/00
Determination Date 10/10/00
Section 5.8(iii) Servicing Fee 226,527.11
Section 5.8(iii) Servicing Fee per $1000 0.22370393
Section 5.8(iv) Administration Fee 1,000.00
Section 5.8(iv) Administration Fee per $1000 0.00098754
Section 5.8(vi) Pool Balance at the end of the Collection Period 256,678,203.47
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 73,490.14
TOTAL 73,490.14
Section 5.8(viii) Realized Net Losses for Collection Period 213,942.02
Section 5.8(ix) Reserve Account Balance after Disbursement 7,700,346.10
Section 5.8(x) Specified Reserve Account Balance 7,700,346.10
Section 5.8(xi) Total Distribution Amount 16,974,139.37
Servicing Fee 226,527.11
Administration Fee 1,000.00
Noteholders Distribution Amount 16,320,185.19
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 3
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
Certficateholders Distribution Amount 153,100.82
Deposit to Reserve Account 273,326.25
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 4
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
I. Avaliable Amount in the Collection Accont
A.Credits
1. Payments from Obligors Applied to Collection Period
a. Principal Payments 14,839,209.33
b. Other Interest Payments 2,033,755.96
c. Total 16,872,965.29
2. Proceeds from Repurchased Receivables
a. Principal Before Cutoff Date 0.00
b. Interest Before Cutoff Date 0.00
c. Principal Payments 73,490.14
d. Recovery of Advance 0.00
e. Other Interest Payments 0.00
f. Total 73,490.14
3. Reversal from Defaulted Contracts 0.00
4. Recovery of Defaulted Receivables 27,683.94
5. Advance Recoveries Before Cutoff Date
a. Principal 587.90
b. Interest 0.00
c. Total 587.90
6. Net Adjustments 0.00
7. Reserve Fund Transfer Amount 0.00
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 5
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
8. Overpayment From Obligors 0.00
9. Total Credits 16,974,727.27
B. Debits
1. Overpayments From Obligors 0.00
2. Advance Recovery Amount Before Cutoff Data to Seller
a. Principal 587.90
b. Interest. 0.00
c. Total 587.90
3. Reversal of Defaulted Contracts 0.00
4. Total Debits 587.90
C. Total Available Amount (Lines A-B) 16,974,139.37
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 6
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
II. Liquidation Proceeds on Defaulted Receivables for the Collection Period
A. Principal 241,625.96
B. Interest 17,802.94
C. Total 259,428.90
III. Disbursements from Collection Account
A. Avalaible Distribution Amount
1. Available Distribution Amount 16,974,139.37
2. Reserve Account Transfer Amount 0.00
3. Total Distribution Amount 16,974,139.37
B. Monthly Servicing Fee 226,527.11
C. Monthly Administration Fee 1,000.00
D. Noteholders Interest Distributable Amount 1,165,859.76
E. Certificateholders Interest Distributable Amount 153,100.82
F. Noteholders Principal Distributable Amount 15,154,325.43
G. Certificateholders Principal Distributable Amount 0.00
H. Deposit to Reserve Account 273,326.25
IV. Monthly Disbursements
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
A. Pool Servicing Fee
a. Monthly Servicing Fee 226,527.11
b. Unpaid Monthly Servicing Fee 0.00
c. Total 226,527.11
B. Administrative Fee
a. Monthly Administration Fee 1,000.00
b. Unpaid Monthly Administration Fee 0.00
c. Total 1,000.00
C. Noteholders' Interest Distributable Amount
Class A-1 Monthly Interest 0.00
Class A-1 Carryover Shortfall 0.00
Class A-1 Total 0.00
Class A-2 Monthly Interest 0.00
Class A-2 Carryover Shortfall 0.00
Class A-2 Total 0.00
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 8
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
Class A-3 Monthly Interest 0.00
Class A-3 Carryover Shortfall 0.00
Class A-3 Total 0.00
Class A-4 Monthly Interest 1,165,859.76
Class A-4 Carryover Shortfall 0.00
Class A-4 Total 1,165,859.76
Total for Notes Monthly Interest 1,165,859.76
Total for Notes Carryover Shortfall 0.00
Total for Notes Total 1,165,859.76
D. Certificateholders' Interest Distributable Amount
Class B-1 Monthly Interest 153,100.82
Class B-1 Carryover Shortfall 0.00
Class B-1 Total 153,100.82
Total for Certificates Monthly Interest 153,100.82
Total for Certificates Carryover Shortfall 0.00
Total for Certificates Total 153,100.82
E. Noteholders' Principal Distributable Amount
Class A-1 Monthly Principal 0.00
Class A-1 Carryover Shortfall 0.00
Class A-1 Total 0.00
Class A-2 Monthly Principal 0.00
Class A-2 Carryover Shortfall 0.00
Class A-2 Total 0.00
Class A-3 Monthly Principal 0.00
Class A-3 Carryover Shortfall 0.00
Class A-3 Total 0.00
Class A-4 Monthly Principal 15,154,325.43
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 9
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
Class A-4 Carryover Shortfall 0.00
Class A-4 Total 15,154,325.43
Total for Notes Monthly Principal 15,154,325.43
Total for Notes Carryover Shortfall 0.00
Total for Notes Total 15,154,325.43
F. Certificateholders' Principal Distributable Amout
Class B-1 Monthly Principal 0.00
Class B-1 Carryover Shortfall 0.00
Class B-1 Total 0.00
Total for Certificates Monthly Principal 0.00
Total for Certificates Carryover Shortfall 0.00
Total for Certificates Total 0.00
G. Total Disbursements 16,700,813.12
V. Payment Deficiency Amount
A. Scheduled Monthly Disbursements 16,700,813.12
B. Available Distribution Amount 16,974,139.37
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 10
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
C. Payment Deficiency Amount 0.00
VI. Reserve Account Transfer Amount
A. Available Reserve Amount 8,154,975.87
B. Payment Deficiency Amount 0.00
C. Withdrawal for Write-Off 0.00
D. Reserve Account Withdrawal (MIN: Lines A and (B+C)) 0.00
VII. Pool Balance Reduction Allocation for Collection Period
A. Beginning Pool Balance 271,832,528.90
B. Pool Balance Reduction
1. Avalaible Principal
a. Principal Payments 14,839,209.33
b. From Repurchased Receivables 73,490.14
c. Total 14,912,699.47
2. From Defaulted Receivables 241,625.96
3. Total Pool Balance Reduction 15,154,325.43
C. Ending Pool Balance 256,678,203.47
D. Allocations
1.Percentage Allocation
a. Notes 100.00000000%
b. Certificates 0.00000000%
2. Monthly Principal Allocation
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 11
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
a. Notes 15,154,325.43
b. Certificates 0.00
VIII. Delinquency and Defaults
Group 1
Principal Delinquency Principal
Period Number Amount Balance
30-59 days 857 615,226.62 6,758,007.07
60-89 days 150 146,174.11 1,141,624.06
90-119 days 70 104,877.71 519,411.43
120-149 days 28 45,811.12 183,504.33
150-179 days 17 29,366.41 87,974.87
180-209 days 1 826.21 3,699.87
210-239 days 6 12,744.44 22,087.47
240+ days Delinquent 0 0.00 0.00
Total 1,129 955,026.62 8,716,309.10
B. Principal amount of loans in defaulted receivables 241,625.96
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 12
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
C. Delinquency Percentage
1. Outstanding principal balance for deliquency >= 60 days 1,958,302.03
2. Pool Principal Ending Balance 256,678,203.47
3. Delinquency Percentage 0.76294052%
IX. Pool Delinquency Percentages
A. Delinquency Percentage for 2nd previous period 0.79596820%
B. Delinquency Percentage for previous period 0.77377155%
C. Delinquency Percentage for current period 0.76294052%
D. Average Deliquency Percentage 0.77756009%
X. Portfolio Loss Ratios
A. Net Loss Ratio for 2nd previous period 0.31216305%
B. Net Loss Ratio for previous period 0.44694102%
1. Principal Balance of Defaulted Receivables 241,625.96
2. Principal Recoveries on Defaulted Receivables 27,683.94
3. Average Pool Balance for Collection Period 264,255,366.18
4. Net Loss Ratio for Current Period(12*(1-2)/3) 0.97152398%
D. Average Net Loss Ratio ((A+B+C) / 3) 0.57687601%
XI. Specified Reserve Account Balance
A. Calculation for Reserve Account Floor Amount
1. Guaranteed Floor Amount 7,594,651.24
2. Possible Floor Amount
a. Principal Balance at the Beginning of Next Collection Period 256,678,203.47
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 13
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
b. Cumulative Monthly Interest through Final Distribution Data
Class A-1 Balance
Class A-1 Interest Rate
Class A-1 Service Rate
Class A-1 Term
Class A-1 Interest
Class A-1 Service Fee
Class A-1 Total
Class A-2 Balance
Class A-2 Interest Rate
Class A-2 Service Rate
Class A-2 Term
Class A-2 Interest
Class A-2 Service Fee
Class A-2 Total
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 14
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
Class A-3 Balance
Class A-3 Interest Rate
Class A-3 Service Rate
Class A-3 Term
Class A-3 Interest
Class A-3 Service Fee
Class A-3 Total
Class A-4 Balance
Class A-4 Interest Rate
Class A-4 Service Rate
Class A-4 Term
Class A-4 Interest
Class A-4 Service Fee
Class A-4 Total
Class B-1 Balance
Class B-1 Interest Rate
Class B-1 Service Rate
Class B-1 Term
Class B-1 Interest
Class B-1 Service Fee
Class B-1 Total
c. Possible Floor Amount equals Pool Balance + Interest + Service Fee
(Lines a+b) 298,200,498.71
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
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Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
3. Reserve Account Floor (Minimum Lines 1 and 2) 7,594,651.24
B. Possible Reserve Account Amount
1. Reserve Account Trigger Percentages
a. Average Delinquency Percentage 0.77756009%
b. Average Delinquency Percentage Trigger 1.25000000%
c. Average Loss Ratio 0.57687601%
d. Average Loss Ratio Trigger 1.25000000%
e. Maximum Reserve Account Percentage Specified 6.00000000%
f. Minimum Reserve Account Percentage specified 3.00000000%
g. Reserve Account Percentage Applied 3.00000000%
2. Pool Principal Balance 256,678,203.47
3. Possible Reserve Account Amount 7,700,346.10
C. Specified Reserve Account Balance (Max: Lines A and B) 7,700,346.10
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 16
Chase Manhattan Auto Owner Trust 1998-A
October 16 2000
MONTHLY SERVICER REPORT
XII. Reserve Account
A. Reserve Account Balance After Disbursement from Previous Period
1. Reserve Account Balance After Disbursement from Previous Period 8,154,975.87
2. Reserve Account Transfer Amount 0.00
3. Investment Earnings 44,471.35
4. Deposit to Reserve Account After Disbursement 273,326.25
5. Amount After Deposit 8,472,773.47
B. Specified Reserve Account Balance 7,700,346.10
C. Available Reserve Account Amount (Min: Lines A and B) 7,700,346.10
1. Excess in Reserve Acct: Max(LinesA - B and 0) 772,427.37
D. Excess Amount to Seller 772,427.37
F. Ending Reserve Account Balance 7,700,346.10
XIII. Weighted Average Coupon as of Current Period
XIV. Weighted Average Maturity as of Current Period
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION