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Discover Financial trust to issue $825M notes

Discover Card Execution Note Trust has entered into an underwriting agreement to issue notes in one or more series, classes and tranches.

The parties to the underwriting agreement are the trust, Discover Bank, Discover Funding LLC, RBC Capital Markets LLC and SG Americas Securities LLC.

Additionally, the trust, Discover Bank and Discover Funding entered into a terms agreement with RBC Capital Markets and SG Americas Securities to issue $825 million principal amount of class A(2017-7) DiscoverSeries notes.

The trust, as issuer, and U.S. Bank NA, as indenture trustee, will enter the notes' terms document on or about Oct. 10.

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