Chase Bank has filed plans with the Securities and Exchange Commission for a $500 million credit card securitization.
The 2014-4 class A notes will be issued off of the bank’s Chase Issuance Trust. They have a scheduled principal payment date of April 2016 and a legal maturity of April 2018. Upon issuance, there will be $28.06 billion of class A notes outstanding and a total of $34.29 billion of notes outstanding, including class B and class C notes.
JP Morgan Securities, Barclays Capital and Mitsubishi UFJ Securities are underwriting the offering.
Chase’s latest offering comes just one week after it issued $1.4 million of floating-rate credit card notes due in 2016 and $625 million of fixed-rate credit card notes due in 2021 on April 2.