Discover Card Execution Note Trust issued $750.0 million principal amount of DiscoverSeries Class A(2017-1) notes and $550.0 million principal amount of DiscoverSeries Class A(2017-2) notes.

The net proceeds of the offerings, after deducting underwriting commissions, discounts and expenses, were about $747.0 million and $548.1 million, respectively. The net proceeds were paid to Discover Bank, which will add those proceeds to its general funds.

The underwriters of the notes were Merrill Lynch Pierce Fenner & Smith Inc., SG Americas Securities LLC, Barclays Capital Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., MUFG Securities Americas Inc. and RBC Capital Markets LLC.

In addition, on Jan. 20, Discover Bank, through Discover Card Execution Note Trust as issuer, increased the principal amount of the class D(2009-1) notes by about $120.8 million, bringing the outstanding principal amount of the notes to about $1.89 billion. The notes were sold at par value with no applicable underwriting discounts or commissions.

Discover Bank extended the expected maturity date of the Class D(2009-1) notes to Jan. 18, 2022, and extended the legal maturity date of the notes to July 15, 2024.

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