Chase is readying another $500 million securitization of credit card receivables off of its Chase Issuance Trust, according to a regulatory filing,
The single tranche of series 2014-8 Class A notes have a scheduled principal payment date of November 2016 and a legal final maturity of November 2018. They will pay a floating rate of interest pegged to one-month Libor.
JP Morgan Securities, Mitsubishi UFJ Securities, and Wells Fargo Securities are the underwriters.
When the latest offering is completed, there will be $29.12 billion of class A notes outstanding.
Chase was last in the market with an credit card deal on Nov. 10, when it sold an upsized $1.3 billion of three-year bonds at a fixed rate of 1.38%.
