Chase Manhattan Bank is hoping to expand the investor base for its credit-card securitizations with a first-of-its-kind owner trust card deal in the $800 million range expected to launch later this month or early next quarter, according to a source close to the situation.

The offering will be the first credit card-backed bond issued through an owner trust and will be led by Chase Securities Inc., which is structuring the transaction to contain class A and class B floating-rate notes benchmarked off of one-month Libor. The accounts in the transaction come from Chase's Visa USA Inc. and its MasterCard International Inc. programs.

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