Item 1. Business
Omitted.
Item 2.
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.
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.
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.
Part II
Item 5.
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
Item 6.
Item 6. Selected Financial Data
Omitted.
Item 7.
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
Omitted.
Item 8.
Item 8. Financial Statements and Supplementary Data
Omitted.
Item 9.
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
None.
Part III
Item 10.
Item 10. Directors and Executive Officers of the Registrant
Omitted.
Item 11.
Item 11. Executive Compensation
Omitted.
Item 12.
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:
Item 13.
Item 13. Certain Relationships and Related Transactions
Omitted.
Part IV
Item 14.
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.
(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.
(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.
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
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