Chase Manhattan Bank's more than $490 million issue of automobile pass-through securities yesterday had the tightest spread of any public auto-backed issued in the past 24 months, sources familiar with the deal said.

The issue, Chase Manhattan Grantor Trust 1991-A, was priced at 99.854 with a 6.9% coupon to yield 6.91% or 69 basis points over the two-year Treasury's average life.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.