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: February 15, 2001
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
-------------------------------------------------
(Originator of the Trust referred to herein)
CHASE MANHATTAN AUTO OWNER TRUST 1998-C
---------------------------------------
(Issuer)
(Exact name of the registrant as specified in its charter)
United States 333-36939 22-2382028
- ------------------------------ ------------------------------- -------------------------
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
802 Delaware Avenue, Wilmington, Delaware 19801
-------------------------------------------------------- -------------
(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-C is the issuer of four 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 June 1, 1998, as amended. The parties to the Sale and
Servicing Agreement are: Chase Manhattan Bank USA, National Association ("Chase
USA"), as seller and as servicer, and Chase Manhattan Owner Trust, as issuer.
On February 15, 2001, 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
---------- ---------------
20.1 Monthly Statement to Certificateholder with respect
to the February 15, 2001 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: February 27, 2001
By: THE CHASE MANHATTAN BANK, USA, NATIONAL
ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
-----------------------------------
Name: Patricia Garvey
Title: Vice President
INDEX TO EXHIBITS
-----------------
Exhibit No. Description
- --------------- -----------------
20.1 Statement to Certificateholders dated
February 15, 2001 delivered pursuant to
Section 5.8 of the Sale and Servicing Agreement
dated as of June 1, 1998.
Page 1
Chase Manhattan Auto Owner Trust 1998-C
Statement to Certificateholders
February 15 2001
DISTRIBUTION IN DOLLARS
ORIGINAL PRIOR
FACE PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL
A1 258,000,000.00 0.00 0.00 0.00 0.00
A2 195,000,000.00 0.00 0.00 0.00 0.00
A3 325,000,000.00 7,297,973.13 7,297,973.13 35,273.54 7,333,246.67
A4 283,900,000.00 283,900,000.00 10,479,794.22 1,384,012.50 11,863,806.72
B1 32,889,211.45 17,032,447.74 549,827.86 85,162.24 634,990.10
TOTALS 1,094,789,211.45 308,230,420.87 18,327,595.21 1,504,448.28 19,832,043.49
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 0.00 273,420,205.78
B1 0.00 0.00 16,482,619.88
TOTALS 0.00 0.00 289,902,825.66
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL CLASS PASS THRU
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR RATE
A1 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A1 5.588000 %
A2 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A2 5.747000 %
A3 22.45530194 22.45530194 0.10853397 22.56383591 0.00000000 A3 5.800000 %
A4 1,000.00000000 36.91368165 4.87500000 41.78868165 963.08631835 A4 5.850000 %
B1 517.87339949 16.71757503 2.58936704 19.30694206 501.15582446 B1 6.000000 %
TOTALS 281.54316616 16.74075248 1.37418990 18.11494239 264.80241368
IF THERE, ARE ANY QUESTIONS OR PROBLEMS WITH THIS STATEMENT PLEASE CONTACT THE
ADMINISTRATOR LISTED BELOW:
Maria Inoa
The Chase Manhattan Bank - Structured Finance Services
450 W. 33rd Street, 14th Floor,
New York, New York 10001
Tel: (212) 946-3676
Fax: 212) 946-8552
Email: maria.inoa@chase.com
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION
Page 2
Chase Manhattan Auto Owner Trust 1998-C
Statement to Certificateholders
February 15 2001
Due Period 32
Due Period Beginning Date 01/01/01
Due Period End Date 01/31/01
Determination Date 02/09/01
Section 5.8(iii) Servicing Fee 256,858.68
Section 5.8(iii) Servicing Fee per $1000 0.23461930
Section 5.8(iv) Administration Fee 1,000.00
Section 5.8(iv) Administration Fee per $1000 0.00091342
Section 5.8(vi) Pool Balance at the end of the Collection Period 289,902,825.66
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 49,362.13
TOTAL 49,362.13
Section 5.8(viii) Realized Net Losses for Collection Period 197,767.31
Section 5.8(ix) Reserve Account Balance after Disbursement 8,697,084.77
Section 5.8(x) Specified Reserve Account Balance 8,697,084.77
Section 5.8(xi) Total Distribution Amount 20,711,086.66
Servicing Fee 256,858.68
Administration Fee 1,000.00
Noteholders Distribution Amount 19,197,053.39
Certficateholders Distribution Amount 634,990.10
Deposit to Reserve Account 621,184.49
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION