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: May 15, 2001
CHASE MANHATTAN BANK USA, NATIONAL ASSOCIATION
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(Originator of the Trust referred to herein)
CHASE MANHATTAN AUTO OWNER TRUST 1998-B
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(Issuer)
(Exact name of the registrant as specified in its charter)
United States 333-36939 22-2382028
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
200 White clay Center Drive, Newark, DE 19711-5466
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (302) 575-5000
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 ("Chase USA"), as seller and as servicer, and Chase Manhattan Owner
Trust, as issuer.
On May 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
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20.1 Monthly Statement to Certificateholders with
respect to the May 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: May 25, 2001
By: CHASE MANHATTAN BANK USA,
NATIONAL ASSOCIATION
as Servicer
By: /s/ Patricia Garvey
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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 May 15, 2001
delivered pursuant to Section 5.8 of the Sale and
Servicing Agreement dated as of April 1, 1998.
Page 1
Chase Manhattan Auto Owner Trust 1998-B
Statement to Certificateholders
May 15 2001
DISTRIBUTION IN DOLLARS
ORIGINAL PRIOR CURRENT
FACE PRINCIPAL REALIZED DEFERRED PRINCIPAL
CLASS VALUE BALANCE PRINCIPAL INTEREST TOTAL LOSES INTEREST BALANCE
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 0.00 0.00 0.00 0.00 0.00 0.00 0.00
A4 282,800,000.00 185,615,575.40 14,836,100.00 897,141.95 15,733,241.95 0.00 0.00 170,779,475.40
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
TOTALS 1,086,404,142.65 218,219,718.05 14,836,100.00 1,061,521.17 15,897,621.17 0.00 0.00 203,383,618.05
FACTOR INFORMATION PER $1000 OF ORIGINAL FACE PASS-THROUGH RATES
PRIOR CURRENT CURRENT
PRINCIPAL PRINCIPAL PASS THRU
CLASS FACTOR PRINCIPAL INTEREST TOTAL FACTOR CLASS RATE
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 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 A3 5.750000 %
A4 656.34927652 52.46145686 3.17235484 55.63381170 603.88781966 A4 5.800000 %
B1 1,000.00000000 0.00000000 5.04166669 5.04166669 1,000.00000000 B1 6.050000 %
TOTALS 200.86421754 13.65615190 0.97709603 14.63324793 187.20806564
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-B
Statement to Certificateholders
May 15 2001
Due Period 37
Due Period Beginning Date 04/01/01
Due Period End Date 04/30/01
Determination Date 05/10/01
Section 5.8(iii) Servicing Fee 181,849.77
Section 5.8(iii) Servicing Fee per $1000 0.16738685
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 203,383,618.05
Section 5.8(vii) Repurchase Amounts for Repurchased Receivable
By Seller 0.00
By Servicer 65,375.32
TOTAL 65,375.32
Section 5.8(viii) Realized Net Losses for Collection Period 121,956.74
Section 5.8(ix) Reserve Account Balance after Disbursement 8,148,031.07
Section 5.8(x) Specified Reserve Account Balance 8,148,031.07
Section 5.8(xi) Total Distribution Amount 16,414,678.77
Servicing Fee 181,849.77
Administration Fee 1,000.00
Noteholders Distribution Amount 15,733,241.95
Certficateholders Distribution Amount 164,379.22
Deposit to Reserve Account 334,207.83
(C)COPYRIGHT 1999, CHASE MANHATTAN CORPORATION