Discover Bank is planning a $500 million credit card debt securitization, according to a filing with the Securities and Exchange Commission today.

Barclays, Credit Suisse, Bank of America Merrill Lynch, Deutsche Bank Securities, JPMorgan, RBC Capital Markets, and Societe General will act as joint-lead underwriters.

The transaction, Discover Card Execution Notes Trust, features one tranche of class A notes that recieve credit enhancement through the subordination of interest and principal payments on class B, class C, and class D DiscoverSeries notes issued in May and through loss protection provided by such notes, according to the filing.

The notes have not yet been rated.

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