-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, OdkcnYzDzNLzBvTsMqyg5VmqO7wFpzIrNcGWmyPbJ2JdOuPLYC+xM/YHHtv7IgL3 //yXg6MkLl/VklTfdJF/DA== 0000950152-98-001560.txt : 19980302 0000950152-98-001560.hdr.sgml : 19980302 ACCESSION NUMBER: 0000950152-98-001560 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19980217 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19980227 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEYCORP /NEW/ CENTRAL INDEX KEY: 0000091576 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] IRS NUMBER: 346542451 STATE OF INCORPORATION: OH FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-11302 FILM NUMBER: 98551916 BUSINESS ADDRESS: STREET 1: 127 PUBLIC SQ CITY: CLEVELAND STATE: OH ZIP: 44114-1306 BUSINESS PHONE: 2166893000 MAIL ADDRESS: STREET 1: 127 PUBLIC SQ CITY: CLEVELAND STATE: OH ZIP: 44114-1306 FORMER COMPANY: FORMER CONFORMED NAME: SOCIETY CORP DATE OF NAME CHANGE: 19920703 8-K 1 KEY CONSUMER ACCEPTANCE CORP. CURRENT REPORT 8-K 1 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 (Date of earliest event reported): February 17, 1998 ------------------------- KEY CONSUMER ACCEPTANCE CORPORATION - -------------------------------------------------------------------------------- (Exact Name of Registrant as Specified in its Charter) Delaware 333-12431 52-1995940 - -------------------------------------------------------------------------------- (STATE OR OTHER JURISDICTION (COMMISSION FILE NUMBER) (I.R.S. EMPLOYER OF INCORPORATION) IDENTIFICATION NO.) c/o Key Bank USA, National Association, as Servicer, 4910 Tiedeman Road, - -------------------------------------------------------------------------------- Brooklyn, Ohio 44144, Attn: Yvonne M. Etling - -------------------------------------------------------------------------------- (Address of Principal Executive Offices) Registrant's Telephone Number, Including Area Code: (216) 813-6501 --------------------------- Exhibit Index on Page 4 Page 1 of 7 pages 2 Item 5. OTHER EVENTS On February 17, 1998, Key Auto Finance Trust 1997-2 (the "Trust") made its regular monthly distribution of funds to holders of the Trust's Asset Backed Notes and Certificates and distributed the Noteholder's and Certificateholder's Statement, filed herewith as an Exhibit to this Form 8-K, to Noteholders and Certificateholders of record. The Trust is hereby filing the Noteholder's and Certificateholder's Statement reflecting the Trust's activities for the period ending Janaury 31, 1998, including a statistical summary of the delinquency and default characteristics of the Trust's auto loan portfolio as of such date. Item 7. EXHIBITS Exhibit 99 - Noteholder's and Certificateholder's Statement 3 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 20, 1998 Key Consumer Acceptance Corporation By: /S/ Craig Platt ---------------------------------- Craig Platt 4 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: February 20, 1998 Key Consumer Acceptance Corporation By: ----------------------------------- Craig Platt 5 EXHIBIT INDEX EXHIBIT PAGE 99 - Noteholder's and Certificateholder's Statement for February 17, 1998. 5-7 EX-99 2 EXHIBIT 99 1 KEY AUTO FINANCE TRUST 1997-2 MONTHLY STATEMENT TO NOTEHOLDERS AND CERTIFICATEHOLDERS Servicer: Key Bank USA, N.A. Indenture Trustee: Bankers Trust Company Owner Trustee: Chase Manhattan Bank Delaware Collection Period: January 1, 1998 to January 31, 1998 Distribution Date: February 17, 1998
Statement for Class A, Class B and Class C Noteholders and Certificateholders Per $1,000 of Original Pursuant to Section 5.6 of the Sale and Servicing Agreement Class A/B/C Note Amount or Certificate Amount ------------------------------ (i) Principal Distribution Class A-1 Note Amount 38,213,420.78 142.5873910 Class A-2 Note Amount 0.00 0.0000000 Class A-3 Note Amount 0.00 0.0000000 Class A-4 Note Amount 0.00 0.0000000 Class A-5 Note Amount 0.00 0.0000000 Class A-P Note Amount 0.00 0.0000000 Class B Note Amount 0.00 0.0000000 Class C Note Amount 0.00 0.0000000 Certificates Amount 0.00 0.0000000 (ii) Interest Distribution Class A-1 Note Amount 1,222,608.19 4.5619709 Class A-2 Note Amount 724,790.00 5.4908333 Class A-3 Note Amount 762,500.00 5.0833333 Class A-4 Note Amount 758,500.00 5.1250000 Class A-5 Note Amount 790,625.00 5.2083333 Class A-P Note Amount 640,625.00 5.1250000 Class B Note Amount 334,005.00 5.2500000 Class C Note Amount 134,662.50 5.5416667 Certificates Amount 115,920.00 6.7083333 (iii) Total Pool Balance of Notes and Certificates (end of Collection Period) 1,002,364,881.58 (iv) Class A-1 Notes Balance (end of Collection Period) 190,364,881.58 Class A-1 Pool Factor (end of Collection Period) 0.7103167 Class A-2 Notes Balance (end of Collection Period) 132,000,000.00 Class A-2 Pool Factor (end of Collection Period) 1.0000000 Class A-3 Notes Balance (end of Collection Period) 150,000,000.00 Class A-3 Pool Factor (end of Collection Period) 1.0000000 Class A-4 Notes Balance (end of Collection Period) 148,000,000.00 Class A-4 Pool Factor (end of Collection Period) 1.0000000
Page 1 2 KEY AUTO FINANCE TRUST 1997-2 MONTHLY STATEMENT TO NOTEHOLDERS AND CERTIFICATEHOLDERS Servicer: Key Bank USA, N.A. Indenture Trustee: Bankers Trust Company Owner Trustee: Chase Manhattan Bank Delaware Collection Period: January 1, 1998 to January 31, 1998 Distribution Date: February 17, 1998
Statement for Class A, Class B and Class C Noteholders and Certificateholders Per $1,000 of Original Pursuant to Section 5.6 of the Sale and Servicing Agreement Class A/B/C Note Amount or Certificate Amount ------------------------------ Class A-5 Notes Balance (end of Collection Period) 151,800,000.00 Class A-5 Pool Factor (end of Collection Period) 1.0000000 Class A-P Notes Balance (end of Collection Period) 125,000,000.00 Class A-P Pool Factor (end of Collection Period) 1.0000000 Class B Notes Balance (end of Collection Period) 63,620,000.00 Class B Pool Factor (end of Collection Period) 1.0000000 Class C Notes Balance (end of Collection Period) 24,300,000.00 Class C Pool Factor (end of Collection Period) 1.0000000 Certificates Balance (end of Collection Period) 17,280,000.00 Certificates Pool Factor (end of Collection Period) 1.0000000 (v) Basic Servicing Fee 843,119.39 0.8060683 (vi) Aggregate Realized Losses 794,545.19 Aggregate Net Losses 612,005.39 (vii) Reserve Account Balance after Giving Effect to Payments 39,115,674.05 Made on Distribution Date Specified Reserve Account Balance after Giving Effect to Payments 39,115,674.05 Made on Distribution Date Distribution to Seller from Reserve Account 0.00 Draws on Reserve Account 0.00 Deposits to Reserve Account 0.00 Class C Reserve Account Balance after Giving Effect to Payments 5,229,826.00 Made on Distribution Date Specified Class C Reserve Account Balance after Giving Effect to 5,229,826.00 Payments Made on Distribution Date Distribution to Seller from Class C Reserve Account 0.00 Draws on Class C Reserve Account 0.00 Deposits to Class C Reserve Account 0.00 (viii) Class A-1 Notes Interest Carryover Shortfall 0.00 0.0000000 Class A-2 Notes Interest Carryover Shortfall 0.00 0.0000000 Class A-3 Notes Interest Carryover Shortfall 0.00 0.0000000 Class A-4 Notes Interest Carryover Shortfall 0.00 0.0000000 Class A-5 Notes Interest Carryover Shortfall 0.00 0.0000000 Class A-P Notes Interest Carryover Shortfall 0.00 0.0000000
Page 2 3 KEY AUTO FINANCE TRUST 1997-2 MONTHLY STATEMENT TO NOTEHOLDERS AND CERTIFICATEHOLDERS Servicer: Key Bank USA, N.A. Indenture Trustee: Bankers Trust Company Owner Trustee: Chase Manhattan Bank Delaware Collection Period: January 1, 1998 to January 31, 1998 Distribution Date: February 17, 1998
Statement for Class A, Class B and Class C Noteholders and Certificateholders Per $1,000 of Original Pursuant to Section 5.6 of the Sale and Servicing Agreement Class A/B/C Note Amount or Certificate Amount ------------------------------ Class B Notes Interest Carryover Shortfall 0.00 0.0000000 Class C Notes Interest Carryover Shortfall 0.00 0.0000000 Certificates Interest Carryover Shortfall 0.00 0.0000000 Class A-1 Notes Principal Carryover Shortfall 0.00 0.0000000 Class A-2 Notes Principal Carryover Shortfall 0.00 0.0000000 Class A-3 Notes Principal Carryover Shortfall 0.00 0.0000000 Class A-4 Notes Principal Carryover Shortfall 0.00 0.0000000 Class A-5 Notes Principal Carryover Shortfall 0.00 0.0000000 Class A-P Notes Principal Carryover Shortfall 0.00 0.0000000 Class B Notes Principal Carryover Shortfall 0.00 0.0000000 Class C Notes Principal Carryover Shortfall 0.00 0.0000000 Certificates Principal Carryover Shortfall 0.00 0.0000000 (ix) Additional Principal Distributable Amount 4,362,002.96 (x) Aggregate Purchase Amount of Receivables Repurchased by the 0.00 Seller or purchased by Servicer
(xi) Delinquent Contracts
Number Balance ---------------------------------------------- 30-59 Days 1376 14,623,376.66 60-89 Days 330 3,763,586.60 90 Days or More 42 430,999.96
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