0001193125-21-215744.txt : 20210715 0001193125-21-215744.hdr.sgml : 20210715 20210715060600 ACCESSION NUMBER: 0001193125-21-215744 CONFORMED SUBMISSION TYPE: 10-D PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20210630 0001658982 0000869090 FILED AS OF DATE: 20210715 DATE AS OF CHANGE: 20210715 ABS ASSET CLASS: Credit card FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHASE ISSUANCE TRUST CENTRAL INDEX KEY: 0001174821 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 222382028 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-67076-02 FILM NUMBER: 211091614 BUSINESS ADDRESS: STREET 1: 201 N. WALNUT STREET 2: DE1-1001 CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 3025944000 MAIL ADDRESS: STREET 1: 201 N. WALNUT ST STREET 2: DE1-1001 CITY: WILMINGTON STATE: DE ZIP: 19801 FORMER COMPANY: FORMER CONFORMED NAME: BANK ONE ISSUANCE TRUST DATE OF NAME CHANGE: 20020604 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Chase Card Funding LLC CENTRAL INDEX KEY: 0001658982 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FILING VALUES: FORM TYPE: 10-D SEC ACT: 1934 Act SEC FILE NUMBER: 333-208503 FILM NUMBER: 211091615 BUSINESS ADDRESS: STREET 1: C/O CHASE BANK USA, NATIONAL ASSOCIATION STREET 2: 201 NORTH WALNUT STREET CITY: WILMINGTON STATE: DE ZIP: 19801 BUSINESS PHONE: 30228240000 MAIL ADDRESS: STREET 1: C/O CHASE BANK USA, NATIONAL ASSOCIATION STREET 2: 201 NORTH WALNUT STREET CITY: WILMINGTON STATE: DE ZIP: 19801 10-D 1 d202961d10d.htm 10-D 10-D

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-D

ASSET-BACKED ISSUER

DISTRIBUTION REPORT PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

For the monthly distribution period from

June 1, 2021 to June 30, 2021.

Commission File Number of issuing entity: 333-239581

Central Index Key Number of issuing entity: 0001174821

CHASE ISSUANCE TRUST

(Issuing Entity of the Notes)

(Exact name of issuing entity as specified in its charter)

Commission File Number of depositor: 333-239581-01

Central Index Key Number of depositor: 0001658982

CHASE CARD FUNDING LLC

(Exact name of depositor as specified in its charter)

Central Index Key Number of sponsor: 0000869090

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION

(Exact name of sponsor as specified in its charter)

Patricia M. Garvey

Chase Card Funding LLC

201 North Walnut Street

Wilmington, Delaware 19801

302-282-6545

(Name and telephone number, including area code, of the person to contact in connection with this filing)

Delaware

(State or other jurisdiction of incorporation

or organization of the issuing entity)

N.A.

(I.R.S. Employer Identification No. of the issuing entity)

N.A.

(I.R.S. Employer Identification No. of the depositor)

13-4994650

(I.R.S. Employer Identification No. of the sponsor)

 

 

CHASE ISSUANCE TRUST

c/o Chase Card Funding LLC

201 North Walnut Street

Wilmington, Delaware

  

19801

 

(Address of principal executive offices of the issuing entity)   (Zip Code)

(302) 282-6545

(Telephone number, including area code)

N.A.

(Former name, former address, if changed since last report)

 

               Registered/reporting pursuant to
(check one)

 

    Name of
exchange
(If Section 12(b))

 

  

Title of class

           Section 12(b)

 

    Section 12(g)

 

    Section 15(d)

 

CHASEseries Class A Notes

       ☐    ☐    ☒   

CHASEseries Class B Notes

       ☐    ☐    ☒   

CHASEseries Class C Notes

       ☐    ☐    ☒   

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.     Yes  ☒    No  ☐.

PART I – DISTRIBUTION INFORMATION

Item 1. Distribution and Pool Performance Information.

The information required by Items 1121(a) and 1121(b) of Regulation AB is provided in the distribution reports attached hereto as Exhibits 99.1, 99.2, and 99.3.

With respect to the information required by Item 1121(c) of Regulation AB, JPMorgan Chase Bank, National Association (CIK number 0000869090) has no repurchase activity to report for the monthly distribution period from June 1, 2021 to June 30, 2021 (the “Monthly Distribution Period”) for Chase Issuance Trust.

PART II – OTHER INFORMATION

Item 2. Legal Proceedings.

The most current information or update to this item, as of the end of the Monthly Distribution Period to which this report relates, was previously reported by Chase Issuance Trust (CIK number 0001174821, SEC File Number 333-239581). See Form 10-K dated and filed on March 30, 2021, as modified by the section in the report on Form 10-D filed on May 17, 2021 entitled “Litigation Regarding Wells Fargo Bank, National Association.”

Item 7. Change in Sponsor Interest in the Securities.

The information required by Item 1124 of Regulation AB is provided in Item 12 of the distribution report attached hereto as Exhibit 99.2. There has been no change in the securities held by the Sponsor and its affiliates during the Monthly Distribution Period.

Item 10. Exhibits.

 

Exhibit
No.

   

Description

99.1    Monthly Information Officer’s Certificate
99.2    Asset Pool One Monthly Servicer’s Certificate
99.3    CHASEseries Monthly Noteholders’ Statement

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

      CHASE ISSUANCE TRUST  
     

 

(Issuing entity)

  

Date: July 15, 2021

     By:  

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,

  
     

 

        as Servicer

  
     

 

            /s/ Patricia M. Garvey                                    

  
     

 

        Name:   Patricia M. Garvey

  
     

 

        Title:     Executive Director

  
EX-99.1 2 d202961dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

CHASE ISSUANCE TRUST

Monthly Information Officer’s Certificate

Monthly Period: June 2021

The undersigned, a duly authorized representative of JPMorgan Chase Bank, National Association (the “Bank”), as Servicer pursuant to the Fourth Amended and Restated Transfer and Servicing Agreement, dated as of January 20, 2016 (as amended, supplemented or otherwise modified, the “Transfer and Servicing Agreement”), among the Bank, as Servicer and Administrator, Chase Card Funding LLC, as Transferor, Chase Issuance Trust, as Issuing Entity, and Wells Fargo Bank, National Association, as Indenture Trustee and Collateral Agent, does hereby certify as follows:

Item 1121(a)(1):

 

  (a)

Record Date: June 30, 2021

 

  (b)

Interest Period: June 15, 2021 through July 14, 2021

 

  (c)

Determination Date: July 13, 2021

 

  (d)

Distribution Date: July 15, 2021

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Servicer
By:  

 /s/  Patricia M. Garvey

  Name: Patricia M. Garvey
  Title: Executive Director

 

 EX-99.2 3 d202961dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

CHASE ISSUANCE TRUST

Asset Pool One Monthly Servicer’s Certificate

Monthly Period: June 2021

 

1.

Capitalized terms used in this certificate have their respective meanings set forth in the Fourth Amended and Restated Indenture, dated as of January 20, 2016 (as amended, supplemented or otherwise modified, the “Indenture”), and the Third Amended and Restated Asset Pool One Supplement, dated as of January 20, 2016 (as amended, supplemented or otherwise modified, the “Asset Pool One Supplement”), each between the Chase Issuance Trust and Wells Fargo Bank, National Association, as Indenture Trustee and Collateral Agent.

 

2.

As of the date hereof, JPMorgan Chase Bank, National Association is the Servicer and Administrator under the Transfer and Servicing Agreement and Chase Card Funding LLC is the Transferor.

 

3.

The undersigned is a Responsible Officer of Servicer.

 

4.

Collateral of Asset Pool One

 

         Beginning Balance              Ending Balance          

Principal Receivables

      10,783,811,630.65        10,830,703,322.77  

Excess Funding Amount

      0.00        0.00  
  

 

 

     

 

 

  

TOTAL

      10,783,811,630.65        10,830,703,322.77  
  

 

 

     

 

 

  

 

5a.

    The Nominal Liquidation Amount of all Asset Pool One Notes as of the last day of the related Monthly Period     
  

CHASEseries

        3,900,000,000.00  
       

 

 

  
  

TOTAL

        3,900,000,000.00  

5b.

    Asset Pool One Transferor Amount for the related Monthly Period        6,930,703,322.77  

5c.

    Asset Pool One Required Transferor Amount for the related Monthly Period        541,535,166.14  

5d.

    Asset Pool One Pool Balance for the related Monthly Period        10,830,703,322.77  

5e.

    Asset Pool One Minimum Pool Balance for the related Monthly Period        3,900,000,000.00  

6a.

    The aggregate amount of Collections of Principal Receivables received by Asset Pool One for the related Monthly Period        4,958,212,780.70  

6b.

    The aggregate amount of Collections of Principal Receivables allocated pursuant to Section 3.3 of the Asset Pool One Supplement for the related Monthly Period     
  

CHASEseries

      36.17 %      1,793,153,525.59  
     

 

 

    

 

 

  
  

TOTAL

      36.17 %      1,793,153,525.59  

7a.

    The aggregate amount of Collections of Finance Charge Receivables received by Asset Pool One for the related Monthly Period        191,194,061.52  
   Collections of Discount Receivables included in 7a above        0.00  

7b.

    The aggregate amount of Collections of Finance Charge Receivables allocated pursuant to subsection 3.2(a) of the Asset Pool One Supplement for the related Monthly Period     
  

CHASEseries

      36.17 %      69,145,944.45  
     

 

 

    

 

 

  
  

TOTAL

      36.17 %      69,145,944.45  

8a.

    The Asset Pool One Servicing Fee for the related Monthly Period        13,479,764.54  

8b.

    The Asset Pool One Servicing Fee allocated to each Series pursuant to subsection 3.4(b) of the Asset Pool One Supplement for the related Monthly Period     
  

CHASEseries

      36.17 %      4,875,000.00  
     

 

 

    

 

 

  
  

TOTAL

      36.17 %      4,875,000.00  

9a.

    The Asset Pool One Default Amount for the related Monthly Period         11,717,243.41  

9b.

    The Asset Pool One Default Amount allocated to each Series pursuant to subsection 3.2(b) of the Asset Pool One Supplement for the related Monthly Period      
  

CHASEseries

      36.17%        4,237,578.59  
     

 

 

     

 

 

  
  

TOTAL

      36.17%        4,237,578.59  

 

10.

Delinquencies as of the last day of the related Monthly Period

 

                 Number
        of Accounts        		      Amount of
        Receivables (1)        		      Percentage of
        Receivables        		  
  

Pool Balance

         7,032,799        11,072,216,992.54        100.00%  
  

Number of Days Delinquent

            
  

30-59 days

                  4,559        22,359,541.93        0.20%  
  

60-89 days

         2,228        13,531,260.06        0.12%  
  

90-119 days

         1,932        13,280,454.33        0.12%  
  

120-149 days

         1,730        12,806,853.74        0.12%  
  

150-179 days

         1,569        12,329,277.01        0.11%  
  

180 or more days

         0        0.00            0.00%  
  

TOTAL

         12,018        74,307,387.07        0.67%  

11.

    Losses and Recoveries for the related Monthly Period

 

   
   Average Pool Balance (2)               10,783,811,630.65  
   Gross Losses (3)               16,383,552.25  
   Gross Losses as a Percentage of Average Pool Balance (Annualized)

 

      1.82%  
   Recoveries (4)               4,666,308.84  
   Net Losses (5)               11,717,243.41  
   Net Losses as a Percentage of Average Pool Balance (Annualized)

 

      1.30%  
   Number of Accounts Charged Off During the Monthly Period

 

      3,200  
   Average Net Loss Amount on Accounts Charged Off during the Monthly Period

 

      3,661.64  

12.

    Change in Sponsor’s or affiliate’s interest in securities for the related Monthly Period

 

   

 

     As of Last Day of Previous Monthly Period      As of Last Day of Monthly Period  
CHASEseries Notes Held by the Sponsor or an Affiliate (6)    Tranche     Amount      Tranche     Amount  
     Class B (2017-01 )      750,000,000.00        Class B (2017-01)       750,000,000.00  
     Class C (2017-01 )      750,000,000.00        Class C (2017-01)       750,000,000.00  
    

 

 

       

 

 

  
       1,500,000,000.00          1,500,000,000.00  

 

13.

Credit Risk Retention

 

             As of Last Day of Monthly Period      
 

Seller’s Interest

      6,930,703,322.77  
 

Seller’s Interest (%) (7)

      177.71%  

(1)

The amount of receivables reflected includes all principal, finance charge and fee amounts due from cardholders as of the date specified.

 

(2)

Average Pool Balance means “Asset Pool One Average Principal Balance” as defined in the Asset Pool One Supplement.

 

(3)

Gross Losses are charge-offs of principal receivables. Gross Losses do not include the amount of any reductions in principal receivables due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount.

 

(4)

Recoveries are amounts received on previously charged-off receivables during the related Monthly Period, and allocated to the issuing entity pro rata, based on the amount of gross losses in the issuing entity as a percentage of gross losses in the Servicer’s managed portfolio of credit card receivables for the related Monthly Period.

 

(5)

Net Losses are Gross Losses minus Recoveries. Net Losses do not include any reductions in principal receivables due to fraud, returned goods or customer disputes, the amount of which instead results in the reduction of the Asset Pool One Transferor Amount.

 

(6)

The securities listed here are not being relied upon to satisfy the U.S. Risk Retention Requirements (79 FR 77601).

 

(7)

The Seller’s Interest percentage is calculated by dividing the Seller’s Interest, which is equal to the Asset Pool One Transferor Amount, by the aggregate unpaid principal balance of all outstanding investor asset-backed interests in the Issuing Entity. The required risk retention percentage is 5%.

IN WITNESS WHEREOF, the undersigned has duly executed and delivered this Certificate on this date July 13, 2021.

 

JPMorgan Chase Bank, National Association, as Servicer

By:    /s/ Patricia M. Garvey

 

         Patricia M. Garvey
          Executive Director

 

 EX-99.3 4 d202961dex993.htm EX-99.3 EX-99.3

Exhibit 99.3

CHASE ISSUANCE TRUST

CHASEseries Monthly Noteholders’ Statement

Monthly Period: June 2021

The undersigned, a duly authorized representative of JPMorgan Chase Bank, National Association (the “Bank”), as Servicer pursuant to the Fourth Amended and Restated Transfer and Servicing Agreement, dated as of January 20, 2016 (as amended, supplemented or otherwise modified, the “Transfer and Servicing Agreement”), by and among the Chase Card Funding LLC, as Transferor, the Bank, as Servicer and Administrator, Chase Issuance Trust, as Issuing Entity, and Wells Fargo Bank, National Association, as Indenture Trustee and Collateral Agent, does hereby certify as follows:

 

A.

Information regarding the Current Distribution to Noteholders

 

1.

The total amount of the distribution to Noteholders on the Payment Date July 15, 2021 per $1,000 Initial Outstanding Dollar Principal Amount

 

      

Tranche

 

   

Amount

 

  
  Class A (2012-07)      1.80000  
  Class A (2017-02)      0.39407  
  Class A (2020-01)      1.27500  
  Class B (2017-01)      0.57740  
  Class C (2017-01)      0.77740  

 

2.

The amount of the distribution set forth in item 1 in respect of interest on the Notes per $1,000 Initial Outstanding Dollar Principal Amount

 

Tranche    Amount              Interest Rate  

Class A (2012-07)

      1.80000        2.16000 % 

Class A (2017-02)

      0.39407        0.47288 % 

Class A (2020-01)

      1.27500        1.53000 % 

Class B (2017-01)

      0.57740        0.69288 % 

Class C (2017-01)

      0.77740        0.93288 % 

 

3.

The amount of the distribution set forth in item 1 in respect of principal on the Notes per $1,000 Initial Outstanding Dollar Principal Amount

 

      

Tranche

 

   

Amount

 

  
 

Class A (2012-07)

      0.00000  
 

Class A (2017-02)

      0.00000  
 

Class A (2020-01)

      0.00000  
 

Class B (2017-01)

      0.00000  
 

Class C (2017-01)

      0.00000  

B.

Information regarding the Tranches of Notes of the CHASEseries

 

1.

Outstanding Dollar Principal Amount and Nominal Liquidation Amount of Tranches of Notes of the CHASEseries for the related Monthly Period

 

Tranche

 

   

Initial Outstanding

Dollar Principal

Amount

 

     

    Outstanding Dollar    
Principal Amount

 

     

        Adjusted Outstanding        
Dollar Principal

Amount

 

     

    Nominal Liquidation    
Amount

 

  

Class A (2012-07)

      750,000,000.00        750,000,000.00        750,000,000.00        750,000,000.00  

Class A (2017-02)

      650,000,000.00        650,000,000.00        650,000,000.00        650,000,000.00  

Class A (2020-01)

      1,000,000,000.00        1,000,000,000.00        1,000,000,000.00        1,000,000,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Class A

      2,400,000,000.00        2,400,000,000.00        2,400,000,000.00        2,400,000,000.00  

Class B (2017-01)

      750,000,000.00        750,000,000.00        750,000,000.00        750,000,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Class B

      750,000,000.00        750,000,000.00        750,000,000.00        750,000,000.00  

Class C (2017-01)

      750,000,000.00        750,000,000.00        750,000,000.00        750,000,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Class C

      750,000,000.00        750,000,000.00        750,000,000.00        750,000,000.00  

Total

      3,900,000,000.00        3,900,000,000.00        3,900,000,000.00        3,900,000,000.00  

 

2.

Nominal Liquidation Amount of Notes of the CHASEseries

 

        Tranche

 

   

Beginning

Nominal

Liquidation

Amount

 

     

 

Increases from
amounts
withdrawn
from
the Principal
Funding
Subaccounts in
respect of
Prefunding
Excess
Amounts

 

     

Reimbursements
of prior
Nominal
Liquidation
Amount Deficits
from Available
Finance Charge
Collections

 

     

Reductions
due to
reallocations
of Available
Principal
Collections
and Investor
Charge-Offs

 

     

Reductions due
to amounts
deposited to
the Principal
Funding
Subaccounts

 

     

Ending Nominal
Liquidation Amount

 

  

Class A (2012-07)

      750,000,000.00        0.00        0.00        0.00        0.00        750,000,000.00  

Class A (2017-02)

      650,000,000.00        0.00        0.00        0.00        0.00        650,000,000.00  

Class A (2020-01)

      1,000,000,000.00        0.00        0.00        0.00        0.00        1,000,000,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Class A

      2,400,000,000.00        0.00        0.00        0.00        0.00        2,400,000,000.00  

Class B (2017-01)

      750,000,000.00        0.00        0.00        0.00        0.00        750,000,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Class B

      750,000,000.00        0.00        0.00        0.00        0.00        750,000,000.00  

Class C (2017-01)

      750,000,000.00        0.00        0.00        0.00        0.00        750,000,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

     

 

 

  

Total Class C

      750,000,000.00        0.00        0.00        0.00        0.00        750,000,000.00  

Total

      3,900,000,000.00        0.00        0.00        0.00        0.00        3,900,000,000.00  

 

3.

CHASEseries Interest Funding Account Sub-Accounts    

 

Tranche

 

   

Beginning
Interest
Funding
Subaccount
Balance

 

     

Targeted deposit
to the Interest
Funding
Subaccount with
respect to the
current period

 

     

Previous
shortfalls
of targeted
deposits to
the Interest
Funding
Subaccount

 

     

Actual deposit to
the Interest
Funding
Subaccount

 

     

Amount
withdrawn from
the Interest
Funding
Subaccount for
payment to
Noteholders

 

    

Other
Withdrawals

 

     

Ending Interest
Funding
Subaccount
Balance

 

  

Class A (2012-07)

      0.00        1,350,000.00        0.00        1,350,000.00        (1,350,000.00 )      0.00        0.00  

Class A (2017-02)

      0.00        256,143.33        0.00        256,143.33        (256,143.33 )      0.00        0.00  

Class A (2020-01)

      0.00        1,275,000.00        0.00        1,275,000.00        (1,275,000.00 )      0.00        0.00  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

  

Total Class A

      0.00        2,881,143.33        0.00        2,881,143.33        (2,881,143.33 )      0.00        0.00  

Class B (2017-01)

      0.00        433,050.00        0.00        433,050.00        (433,050.00 )      0.00        0.00  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

  

Total Class B

      0.00        433,050.00        0.00        433,050.00        (433,050.00 )      0.00        0.00  

Class C (2017-01)

      0.00        583,050.00        0.00        583,050.00        (583,050.00 )      0.00        0.00  
  

 

 

     

 

 

     

 

 

     

 

 

     

 

 

    

 

 

     

 

 

  

Total Class C

      0.00        583,050.00        0.00        583,050.00        (583,050.00 )      0.00        0.00  

Total

      0.00        3,897,243.33        0.00        3,897,243.33        (3,897,243.33 )      0.00        0.00  

4.

CHASEseries Principal Funding Account Sub-Accounts

 

 

Tranche

  

Beginning
Principal

Funding
Subaccount

Balance

    

Targeted deposit to

the Principal Funding

Subaccount with

respect to the current

period

    

Previous
shortfalls of

targeted
deposits to

the Principal
Funding

Subaccount

    

Actual deposit
to the

Principal Funding

Subaccount

    

Amount withdrawn

from the Principal

Funding Subaccount

for payment to

Noteholders

    

 

Other
Withdrawals

    

Ending
Principal

Funding
Subaccount

Balance

  

Class A (2012-07)

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  

Class A (2017-02)

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  

Class A (2020-01)

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Class A

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  

Class B (2017-01)

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Class B

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  

Class C (2017-01)

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  
 

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

    

 

 

  

Total Class C

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  

Total

     0.00       0.00       0.00       0.00       0.00       0.00       0.00  

 

5.

CHASEseries Class C Reserve Sub-Accounts

 

 

Tranche

 

   

 

Beginning Class C

Reserve
Subaccount

Balance

 

     

 

Class C

Reserve

Subaccount
earnings for
the current
period

 

     

 

Targeted deposit to

the Class C

Reserve

Subaccount

 

     

Actual deposit to

the Class C
Reserve

Subaccount,
including

Excess Amounts

 

     

Amount
withdrawn
in respect of
payment of

interest or
principal to

Noteholders

     

Withdrawal of
Excess Amounts
pursuant to

subsection 3.25(c)
of the Indenture

Supplement

    

 

Ending Class C

Reserve
Subaccount

Balance

  

Class C (2017-01)

      58,500,000.00        7,114.14        0.00        0.00        0.00        (7,114.14 )      58,500,000.00  
  

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

Total Class C

      58,500,000.00        7,114.14        0.00        0.00        0.00        (7,114.14 )      58,500,000.00  

Total

      58,500,000.00        7,114.14        0.00        0.00        0.00        (7,114.14 )      58,500,000.00  

 

6.

Class A Required Subordinated Amount of Class B and Class C Notes and Class A Usage of Class B and Class C Required Subordinated Amounts    

 

Tranche   

Required
Subordinated
Amount of Class B

Notes as of the close
of business on the
related Note Transfer
Date

     

Required
Subordinated
Amount of Class C

Notes as of the close
of business on the
related Note Transfer
Date

     

Class A

Usage of
Class B

Required
Subordinated

Amount for
the current
period

     

Class A

Usage of

Class C

Required
Subordinated

Amount for
the current
period

     

Cumulative

Class A

Usage of

Class B

Required
Subordinated

Amount

     

Cumulative

Class A

Usage of

Class C

Required
Subordinated

Amount

  

Class A (2012-07)

      61,046,475.00        61,046,475.00        0.00        0.00        0.00        0.00  

Class A (2017-02)

      52,906,945.00        52,906,945.00        0.00        0.00        0.00        0.00  

Class A (2020-01)

      81,395,300.00        81,395,300.00        0.00        0.00        0.00        0.00  
  

 

 

     

 

 

  

Total

      195,348,720.00        195,348,720.00        0.00        0.00        0.00        0.00  

7.

Class B Required Subordinated Amount of Class C Notes and Class B Usage of Class C Required Subordinated Amounts

 

Tranche

 

   

Required
Subordinated Amount
of Class C Notes as of
the close of

business on the related
Note Transfer Date

 

     

Class B Usage of
Class C Required
Subordinated Amount
for the current period

 

     

Cumulative Class B
Usage of Class C
Required
Subordinated Amount

 

  

Class B (2017-01)

      237,096,656.26        0.00        0.00  
  

 

 

     

 

 

     

 

 

  

Total

      237,096,656.26        0.00        0.00  

 

C.

Information regarding the performance of the CHASEseries    

 

     June
Monthly Period		      May
Monthly Period		      April
Monthly Period		  

Yield - Finance Charge, Fees & Interchange

      21.57%                            21.70%                            21.39%                      

Plus: Yield - Collections of Discount Receivables

      0.00%                            0.00%                            0.00%                      

Less: Net Credit Losses

      1.30%                            1.77%                            1.97%                      

(a) Portfolio Yield

      20.27%        19.93%        19.42%  

Less:

         

Coupon

      1.20%                            1.15%                            1.16%                      

Plus: Servicing Fee

      1.50%                            1.50%                            1.50%                      

(b) Base Rate

      2.70%        2.65%        2.66%  

(a) - (b) = Excess Spread Percentage

      17.57%        17.28%        16.76%  

Three Month Average Excess Spread Percentage

      17.20%        17.21%        16.64%  

Excess Spread Amount paid to Transferor

    $ 56,136,485.12         $ 65,311,865.63         $ 60,610,822.63     

Principal Payment Rate

      45.98%        45.56%        43.83%  

 

JPMorgan Chase Bank, National Association, as Servicer  
By:       /s/ Patricia M. Garvey  
           Patricia M. Garvey  
  Executive Director  
July 13, 2021