Exhibit 25.1
SECURITIES AND EXCHANGE COMMISSION
Washington, D. C. 20549
_________________________
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF
A CORPORATION DESIGNATED TO ACT AS TRUSTEE
___________________________________________
CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF
A TRUSTEE PURSUANT TO SECTION 305(b)(2) ________
________________________________________
THE CHASE MANHATTAN BANK
(Exact name of trustee as specified in its charter)
New York 13-4994650
(State of incorporation (I.R.S. employer
if not a national bank) identification No.)
270 Park Avenue
New York, New York 10017
(Address of principal executive offices) (Zip Code)
William H. McDavid
General Counsel
270 Park Avenue
New York, New York 10017
Tel: (212) 270-2611
(Name, address and telephone number of agent for service)
____________________________________________
Union Carbide Corporation
(Exact name of obligor as specified in its charter)
New York 13-14217301
(State or other jurisdiction of (I.R.S. employer
incorporation or organization) identification No.)
39 Old Ridgebury Road
Danbury, CT 06817-0001
(Address of principal executive offices) (Zip Code)
Debt Securities
(Title of the indenture securities)
GENERAL
Item 1. General Information.
Furnish the following information as to the trustee:
(a) Name and address of each examining or supervising
authority to which it is subject.
New York State Banking Department, State House, Albany,
New York 12110.
Board of Governors of the Federal Reserve System,
Washington, D.C., 20551
Federal Reserve Bank of New York, District No. 2, 33
Liberty Street, New York, N.Y.
Federal Deposit Insurance Corporation, Washington,
D.C., 20429.
(b) Whether it is authorized to exercise corporate trust
powers.
Yes.
Item 2. Affiliations with the Obligor.
If the obligor is an affiliate of the trustee, describe each
such affiliation.
None.
- 2 -
Item 16. List of Exhibits
List below all exhibits filed as a part of this Statement of
Eligibility.
1. A copy of the Articles of Association of the Trustee as
now in effect, including the Organization Certificate and the
Certificates of Amendment dated February 17, 1969, August 31, 1977,
December 31, 1980, September 9, 1982, February 28, 1985, December 2,
1991 and July 10, 1996 (see Exhibit 1 to Form T-1 filed in connection
with Registration Statement No. 333-06249, which is incorporated by
reference).
2. A copy of the Certificate of Authority of the Trustee
to Commence Business (see Exhibit 2 to Form T-1 filed in connection with
Registration Statement No. 33-50010, which is incorporated by reference.
On July 14, 1996, in connection with the merger of Chemical Bank and The
Chase Manhattan Bank (National Association), Chemical Bank, the
surviving corporation, was renamed The Chase Manhattan Bank).
3. None, authorization to exercise corporate trust powers
being contained in the documents identified above as Exhibits 1 and 2.
4. A copy of the existing By-Laws of the Trustee (see
Exhibit 4 to Form T-1 filed in connection with Registration Statement
No. 333-06249, which is incorporated by reference).
5. Not applicable.
6. The consent of the Trustee required by Section 321(b)
of the Act (see Exhibit 6 to Form T-1 filed in connection with
Registration Statement No. 33-50010, which is incorporated by reference.
On July 14, 1996, in connection with the merger of Chemical Bank and The
Chase Manhattan Bank (National Association), Chemical Bank, the
surviving corporation, was renamed The Chase Manhattan Bank).
7. A copy of the latest report of condition of the
Trustee, published pursuant to law or the requirements of its
supervising or examining authority.
8. Not applicable.
9. Not applicable.
SIGNATURE
Pursuant to the requirements of the Trust Indenture Act of
1939 the Trustee, The Chase Manhattan Bank, a corporation organized and
existing under the laws of the State of New York, has duly caused this
statement of eligibility to be signed on its behalf by the undersigned,
thereunto duly authorized, all in the City of New York and State of New
York, on the 10th day of July, 1998.
THE CHASE MANHATTAN BANK
By /s/ R. Lorenzen
R. Lorenzen
Senior Trust Officer
- 3 -
Exhibit 7 to Form T-1
Bank Call Notice
RESERVE DISTRICT NO.2
CONSOLIDATED REPORT OF CONDITION OF
The Chase Manhattan Bank
of 270 Park Avenue, New York, New York 10017
and Foreign and Domestic Subsidiaries,
a member of the Federal Reserve System,
at the close of business March 31, 1998, in
accordance with a call made by the Federal Reserve Bank of this
District pursuant to the provisions of the Federal Reserve Act.
Dollar Amounts
ASSETS in Millions
Cash and balances due from depository institutions:
Noninterest-bearing balances and
currency and coin.................................. $12,037
Interest-bearing balances.......................... 4,054
Securities: ............................................
Held to maturity securities............................. 2,340
Available for sale securities........................... 50,134
Federal funds sold and securities purchased under
agreements to resell................................. 24,982
Loans and lease financing receivables:
Loans and leases, net of unearned income $127,958
Less: Allowance for loan and lease losses 2,797
Less: Allocated transfer risk reserve...... 0
Loans and leases, net of unearned income,
allowance, and reserve................... 125,161
Trading Assets......................................... 61,820
Premises and fixed assets (including capitalized
leases)............................................ 2,961
Other real estate owned................................ 347
Investments in unconsolidated subsidiaries and
associated companies................................... 242
Customers' liability to this bank on acceptances
outstanding............................................ 1,380
Intangible assets...................................... 1,549
Other assets........................................... 11,727
TOTAL ASSETS........................................... $298,734
LIABILITIES
Deposits
In domestic offices................................. $96,682
Noninterest-bearing...........................$38,074
Interest-bearing...............................58,608
In foreign offices, Edge and Agreement,
subsidiaries and IBF's................................. 72,630
Non-interest bearing...........................$3,289
Interest-bearing...............................69,341
Federal funds purchased and securities sold under agree-
ments to repurchase......................................... 42,735
Demand notes issued to the U.S. Treasury................... 872
Trading liabilities........................................ 45,545
Other borrowed money (includes mortgage indebtedness
and obligations under capitalized leases):
With a remaining maturity one year or less...... 4,454
With a remaining maturity of more than one year.
through three years.......................... 231
With a remaining maturity of more than three years.......... 106
Bank's liability on acceptances executed and outstanding 1,380
Subordinated notes and debentures...................... 5,708
Other liabilities....................................... 11,295
TOTAL LIABILITIES....................................... 281,638
EQUITY CAPITAL
Perpetual preferred stock and related surplus 0
Common stock............................................. 1,211
Surplus (exclude all surplus related to preferred stock)... 10,291
Undivided profits and capital reserves..................... 5,579
Net unrealized holding gains (losses)
on available-for-sale securities............................ (1)
Cumulative foreign currency translation adjustments.......... 16
TOTAL EQUITY CAPITAL......................................... 17,096
TOTAL LIABILITIES AND EQUITY CAPITAL......................... $298,734
I, Joseph L. Sclafani, E.V.P. & Controller of the above-named
bank, do hereby declare that this Report of Condition has been
prepared in conformance with the instructions issued
by the appropriate Federal regulatory authority and is true
to the best of my knowledge and belief.
JOSEPH L. SCLAFANI
We, the undersigned directors, attest to the correctness
of this Report of Condition and declare that it has been
examined by us, and to the best of our knowledge and
belief has been prepared in conformance with the in-
structions issued by the appropriate Federal regulatory
authority and is true and correct.
WALTER V. SHIPLEY
THOMAS G. LABRECQUE DIRECTORS
WILLIAM B. HARRISON, JR.