Capital One is marketing $500 million of three-year notes backed by credit card receivables, according to Fitch Ratings.

The offering consists of a single tranche of class A notes to be issued from the bank’s Capital One Multi-Asset Execution Trust. Fitch has assigned a preliminary ‘AAA’ rating to the 2015-1 series, which benefits from credit enhancement of 21%/

Upon issuance of this transaction, 17 tranches of class A notes will be outstanding under COMET, according to Fitch. The total invested amount of notes outstanding will be approximately $14.79 billion, consisting of $11.6 billion of class A notes, $1.38 billion of class B notes and $1.38 billion of class C notes.

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