American Express has upsized its latest offering of securities backed by a pool of credit card receivables, according to a regulatory filing.

The deal, American Express 2014-3, was originally sized at $720 million, including $650 million of three-year class A notes and $28.2 million of three-year class B notes; the tranches were upsized to $1.5 billion and $65.03 million, respectively.

The class A notes have a preliminary ‘Aaa’ rating from Moody’s Investors Service and ‘AAA’ from Standard & Poor’s; the class B notes have preliminary ‘A2’/’AA+’ ratings. Both tranches have an expected final payment date of September 2017 and a legal final maturity of April 2020.

The trust is also issuing a collateral interest in the amount of $169.08 million that is subordinated to the class A certificates and class B certificates.

Barclays, Deutsche Bank and Wells Fargo are the lead managers. 

The pool of collateral is comprised of American Express credit cards, including Optima, Blue, co-branded credit cards with Delta Airlines, Costco, Hilton and Starwood Hotels, and others; and credit lines extended to charge card members for travel-related expenditures originated by Centurion and FSB.

As of 30 June 2014, American Express managed approximately $66.3 billion in worldwide card member loans, of which it has sold approximately $28.3 billion to the American Express Credit Account Master Trust.

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