Nordstrom is in the market with a private-label credit card deal underwritten by the Royal Bank of Scotland. The securitization is called Nordstrom Credit Card Master Note Trust II – Series 2011-1.

The Standard & Poor's-rated transaction is backed by receivables originated by Nordstrom in Nordstrom private-label credit card accounts and 90% participation interest in receivables in Nordstrom Visa credit card accounts.

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