Citibank priced a $650 million of two-year bonds backed by credit receivables at a spread of 25 basis points over one month Libor, according to a deal document.

The deal called, CCCIT 2014-A9, brings the issuer’s year to date issuance from the credit card trust to $12.5 billion, according to Standard & Poor’s. S&P is expected to assign an ‘AAA’ ratings to the notes.

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