CHASE ISSUANCE TRUST 8-K

What Happened

• Chase Issuance Trust filed an 8-K reporting that on May 28, 2026 it completed a securitization of approximately $1,250,000,000 of credit card receivables. As part of the transaction, the trust issued $1,250,000,000 aggregate principal amount of Class A(2026-1) notes (a tranche of the CHASEseries). Chase Card Funding LLC acted as depositor and transferor; JPMorgan Chase Bank, N.A. served as sponsor, originator, administrator and servicer and will continue servicing the receivables.

Key Details

• Closing date: May 28, 2026.
• Class A(2026-1) notes issued: $1,250,000,000 (part of CHASEseries: Class A, B, and C notes).
• Credit risk retention: Transferor Amount (seller’s interest) retained by Chase Card Funding LLC = $3.16 billion.
• Seller’s Interest Percentage = 36.75% of the aggregate principal amount of outstanding CHASEseries notes.

Why It Matters

• The filing documents a standard securitization transaction that converts credit card receivables into marketable notes, providing funding and transferring certain risks. The sizable seller’s interest (36.75%, $3.16B) indicates Chase Card Funding LLC retained a significant portion of economic exposure, which is a regulatory disclosure about credit risk retention. For investors, the key takeaways are the amount of notes issued, the continued role of JPMorgan Chase Bank as servicer, and the material level of seller retention disclosed in the 8-K.