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Chase Bank USA completes securitization of credit card receivables

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Chase Bank USA completes securitization of credit card receivables

Chase Bank USA NA, along with associated entities, completed the securitization of roughly $1.5 billion of credit card receivables.

The securitization consists of $750 million class B notes and another $750 million class C notes. Both are part of the CHASEseries notes.

The bank served as sponsor, originator, administrator and servicer. Chase Issuance Trust was issuing entity and Chase Card Funding LLC was depositor and transferor. All are units of JPMorgan Chase & Co.

As of the closing date, the seller's interest retained by Chase Card Funding was $7.74 billion while the seller's interest percentage, the percentage divided by the aggregate principal amount of outstanding CHASEseries notes, was 24.5%.