American Express is prepping a new credit card securitization worth $595 million, according to a presale from Fitch Ratings.

Barclays, RBC Capital Markets, and RBS are leading the transaction.

The deal is split into four tranches. An A piece for $500 million is rated ‘AAAsf’ by Fitch; a B piece for $28.8 is rated ‘A+sf’; a $38.7-million 1 tranche is rated ‘BBB+sf’; and, finally, a 2 tranche for $29.8 million is unrated.

The class 1 notes will not be publicly offered.

The A tranche rest on a credit cushion made up of a 4.5% subordination of class B certificates and 11.5% of collateral interest.

The servicer is American Express Travel Related Services Company.

This issuance brings the total number of series outstanding in the structure’s master trust to 19. Receivables in that trust totaled $29 billion as of Sept. 30. The active accounts earmarked for the trust portfolio have an average account balance of $3,506. They are spread across the country.

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