Discover Card Execution Note Trust sold $350 million principal amount of the DiscoverSeries class B(2017-1) notes and $510 million principal amount of the DiscoverSeries class C(2017-1) notes.

The notes were sold at a discount for about $842.1 million, with no applicable underwriting discounts or commissions, and will not bear interest before their expected maturity. The net proceeds were paid to Discover Bank.

Additionally, Discover Bank, through Discover Card Execution Note Trust, as issuer, increased the principal amount of class D(2009-1) notes by about $79.9 million, bringing the outstanding principal amount of the notes to about $1.81 billion. The notes were sold at par value for cash, with no applicable underwriting discounts or commissions.

Discover Financial Services is the parent company of Discover Bank and the note trust.