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
August 1, 2019 to August 31, 2019.
Commission File Number of issuing entity: 333-218098-01
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: 333-218098
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 August 1, 2019 to August 31, 2019 (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 333-218098-01). See Prospectus dated May 20, 2019, filed on May 20, 2019, as modified by the sections in the report on Form 10-D filed on July 16, 2019 entitled Litigation Regarding the Depositor and Issuing Entity and Litigation Regarding the Indenture Trustee, respectively.
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 |
Description | |
99.1 | Monthly Information Officers Certificate | |
99.2 | Asset Pool One Monthly Servicers 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: September 16, 2019 |
By: |
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, |
||||||
as Servicer |
||||||||
/s/ Patricia Garvey |
||||||||
Name: Patricia Garvey |
||||||||
Title: Executive Director |
Exhibit 99.1
CHASE ISSUANCE TRUST
Monthly Information Officers Certificate
Monthly Period: August 2019
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: August 31, 2019 |
(b) | Interest Period: August 15, 2019 through September 15, 2019 |
(c) | Determination Date: September 12, 2019 |
(d) | Distribution Date: September 16, 2019 |
JPMORGAN CHASE BANK, NATIONAL ASSOCIATION, as Servicer |
By: | /s/ Patricia M. Garvey | |
Name: Patricia Garvey | ||
Title: Executive Director |
Exhibit 99.2
CHASE ISSUANCE TRUST
Asset Pool One Monthly Servicers Certificate
Monthly Period: August 2019
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 |
27,464,409,581.52 | 27,275,583,682.60 | ||||||
Excess Funding Amount |
0.00 | 0.00 | ||||||
|
|
|
|
|||||
TOTAL |
27,464,409,581.52 | 27,275,583,682.60 | ||||||
|
|
|
|
5a. |
The Nominal Liquidation Amount of all Asset Pool One Notes as of the last day of the related Monthly Period | |||||||||
CHASEseries |
9,475,000,000.00 | |||||||||
|
|
|||||||||
TOTAL |
9,475,000,000.00 | |||||||||
5b. |
Asset Pool One Transferor Amount for the related Monthly Period | 17,800,583,682.60 | ||||||||
5c. |
Asset Pool One Required Transferor Amount for the related Monthly Period | 1,363,779,184.13 | ||||||||
5d. |
Asset Pool One Pool Balance for the related Monthly Period | 27,275,583,682.60 | ||||||||
5e. |
Asset Pool One Minimum Pool Balance for the related Monthly Period | 9,475,000,000.00 | ||||||||
6a. |
The aggregate amount of Collections of Principal Receivables received by Asset Pool One for the related Monthly Period | 9,605,427,774.08 | ||||||||
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 |
34.50 | % | 3,313,795,182.42 | |||||||
|
|
|
|
|||||||
TOTAL |
34.50 | % | 3,313,795,182.42 | |||||||
7a. |
The aggregate amount of Collections of Finance Charge Receivables received by Asset Pool One for the related Monthly Period | 451,960,261.97 | ||||||||
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 |
34.50 | % | 155,922,648.53 | |||||||
|
|
|
|
|||||||
TOTAL |
34.50 | % | 155,922,648.53 | |||||||
8a. |
The Asset Pool One Servicing Fee for the related Monthly Period | 34,330,511.98 | ||||||||
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 |
34.50 | % | 11,843,750.00 | |||||||
|
|
|
|
|||||||
TOTAL |
34.50 | % | 11,843,750.00 |
9a. |
The Asset Pool One Default Amount for the related Monthly Period | 56,176,943.39 | ||||||||
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 |
34.50 | % | 19,380,592.80 | |||||||
|
|
|
|
|||||||
TOTAL |
34.50 | % | 19,380,592.80 |
10. | Delinquencies as of the last day of the related Monthly Period |
Number of Accounts |
Amount of Receivables (1) |
Percentage of Receivables |
||||||||||||||||
Pool Balance |
13,938,810 | 27,812,373,941.30 | 100.00% | |||||||||||||||
Number of Days Delinquent |
||||||||||||||||||
30-59 days |
15,122 | 95,337,095.85 | 0.34% | |||||||||||||||
60-89 days |
9,213 | 69,280,499.78 | 0.25% | |||||||||||||||
90-119 days |
7,332 | 57,448,319.84 | 0.21% | |||||||||||||||
120-149 days |
5,767 | 47,514,763.29 | 0.17% | |||||||||||||||
150-179 days |
5,625 | 48,676,469.20 | 0.17% | |||||||||||||||
180 or more days |
0 | 0.00 | 0.00% | |||||||||||||||
TOTAL |
43,059 | 318,257,147.96 | 1.14% | |||||||||||||||
11. |
Losses and Recoveries for the related Monthly Period |
|
||||||||||||||||
Average Pool Balance (2) | 27,464,409,581.52 | |||||||||||||||||
Gross Losses (3) | 63,313,155.51 | |||||||||||||||||
Gross Losses as a Percentage of Average Pool Balance (Annualized) |
|
2.77% | ||||||||||||||||
Recoveries (4) | 7,136,212.12 | |||||||||||||||||
Net Losses (5) | 56,176,943.39 | |||||||||||||||||
Net Losses as a Percentage of Average Pool Balance (Annualized) |
|
2.45% | ||||||||||||||||
Number of Accounts Charged Off During the Monthly Period |
|
10,020 | ||||||||||||||||
Average Net Loss Amount on Accounts Charged Off during the Monthly Period |
|
5,606.48 | ||||||||||||||||
12. |
Change in Sponsors or affiliates 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 (2015-01 | ) | 750,000,000.00 | Class B (2015-01) | 750,000,000.00 | ||||||||||||
Class B (2017-01 | ) | 750,000,000.00 | Class B (2017-01) | 750,000,000.00 | ||||||||||||
Class C (2015-01 | ) | 750,000,000.00 | Class C (2015-01) | 750,000,000.00 | ||||||||||||
Class C (2017-01 | ) | 750,000,000.00 | Class C (2017-01) | 750,000,000.00 | ||||||||||||
|
|
|
|
|||||||||||||
3,000,000,000.00 | 3,000,000,000.00 |
13. | Credit Risk Retention |
As of Last Day of Monthly Period | ||||||
Sellers Interest |
17,800,583,682.60 | |||||
Sellers Interest (%) (7) |
187.87% |
(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 Servicers 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 Sellers Interest percentage is calculated by dividing the Sellers 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 September 12, 2019.
JPMorgan Chase Bank, National Association, as Servicer | ||
By: /s/ Patricia Garvey
| ||
Patricia Garvey | ||
Executive Director |
Exhibit 99.3
CHASE ISSUANCE TRUST
CHASEseries Monthly Noteholders Statement
Monthly Period: August 2019
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 September 16, 2019 per $1,000 Initial Outstanding Dollar Principal Amount |
Tranche
|
Amount
|
|||||
Class A (2012-07) | 1.80000 | |||||
Class A (2014-02) | 2.30833 | |||||
Class A (2015-04) | 1.53333 | |||||
Class A (2016-03) | 2.44012 | |||||
Class A (2016-04) | 1.24167 | |||||
Class A (2017-01) | 2.21789 | |||||
Class A (2017-02) | 2.30678 | |||||
Class A (2018-01) | 2.12900 | |||||
Class B (2015-01) | 2.53789 | |||||
Class B (2017-01) | 2.50234 | |||||
Class C (2015-01) | 2.84012 | |||||
Class C (2017-01) | 2.71567 |
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 (2014-02) |
2.30833 | 2.77000 | % | |||||
Class A (2015-04) |
1.53333 | 1.84000 | % | |||||
Class A (2016-03) |
2.44012 | 2.74513 | % | |||||
Class A (2016-04) |
1.24167 | 1.49000 | % | |||||
Class A (2017-01) |
2.21789 | 2.49513 | % | |||||
Class A (2017-02) |
2.30678 | 2.59513 | % | |||||
Class A (2018-01) |
2.12900 | 2.39513 | % | |||||
Class B (2015-01) |
2.53789 | 2.85513 | % | |||||
Class B (2017-01) |
2.50234 | 2.81513 | % | |||||
Class C (2015-01) |
2.84012 | 3.19513 | % | |||||
Class C (2017-01) |
2.71567 | 3.05513 | % |
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 (2014-02) | 0.00000 | |||||
Class A (2015-04) | 0.00000 | |||||
Class A (2016-03) | 0.00000 | |||||
Class A (2016-04) | 0.00000 | |||||
Class A (2017-01) | 0.00000 | |||||
Class A (2017-02) | 0.00000 | |||||
Class A (2018-01) | 0.00000 | |||||
Class B (2015-01) | 0.00000 | |||||
Class B (2017-01) | 0.00000 | |||||
Class C (2015-01) | 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
|
Adjusted Outstanding Amount
|
Nominal Liquidation
|
||||||||||||
Class A (2012-07) |
750,000,000.00 | 750,000,000.00 | 750,000,000.00 | 750,000,000.00 | ||||||||||||
Class A (2014-02) |
625,000,000.00 | 625,000,000.00 | 625,000,000.00 | 625,000,000.00 | ||||||||||||
Class A (2015-04) |
775,000,000.00 | 775,000,000.00 | 775,000,000.00 | 775,000,000.00 | ||||||||||||
Class A (2016-03) |
525,000,000.00 | 525,000,000.00 | 525,000,000.00 | 525,000,000.00 | ||||||||||||
Class A (2016-04) |
850,000,000.00 | 850,000,000.00 | 850,000,000.00 | 850,000,000.00 | ||||||||||||
Class A (2017-01) |
900,000,000.00 | 900,000,000.00 | 900,000,000.00 | 900,000,000.00 | ||||||||||||
Class A (2017-02) |
650,000,000.00 | 650,000,000.00 | 650,000,000.00 | 650,000,000.00 | ||||||||||||
Class A (2018-01) |
1,400,000,000.00 | 1,400,000,000.00 | 1,400,000,000.00 | 1,400,000,000.00 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Class A |
6,475,000,000.00 | 6,475,000,000.00 | 6,475,000,000.00 | 6,475,000,000.00 | ||||||||||||
Class B (2015-01) |
750,000,000.00 | 750,000,000.00 | 750,000,000.00 | 750,000,000.00 | ||||||||||||
Class B (2017-01) |
750,000,000.00 | 750,000,000.00 | 750,000,000.00 | 750,000,000.00 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total Class B |
1,500,000,000.00 | 1,500,000,000.00 | 1,500,000,000.00 | 1,500,000,000.00 | ||||||||||||
Class C (2015-01) |
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 |
1,500,000,000.00 | 1,500,000,000.00 | 1,500,000,000.00 | 1,500,000,000.00 | ||||||||||||
Total |
9,475,000,000.00 | 9,475,000,000.00 | 9,475,000,000.00 | 9,475,000,000.00 |
2. | Nominal Liquidation Amount of Notes of the CHASEseries |
Tranche
|
Beginning Nominal Liquidation Amount
|
Increases from withdrawn the
Principal Subaccounts in
|
Reimbursements of prior Nominal Amount Deficits
|
Reductions Principal Collections Charge-Offs
|
Reductions due deposited to Funding
|
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 (2014-02) |
625,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 625,000,000.00 | ||||||||||||||||||
Class A (2015-04) |
775,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 775,000,000.00 | ||||||||||||||||||
Class A (2016-03) |
525,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 525,000,000.00 | ||||||||||||||||||
Class A (2016-04) |
850,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 850,000,000.00 | ||||||||||||||||||
Class A (2017-01) |
900,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 900,000,000.00 | ||||||||||||||||||
Class A (2017-02) |
650,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 650,000,000.00 | ||||||||||||||||||
Class A (2018-01) |
1,400,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,400,000,000.00 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Class A |
6,475,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 6,475,000,000.00 | ||||||||||||||||||
Class B (2015-01) |
750,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750,000,000.00 | ||||||||||||||||||
Class B (2017-01) |
750,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 750,000,000.00 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||
Total Class B |
1,500,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,500,000,000.00 | ||||||||||||||||||
Class C (2015-01) |
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 |
1,500,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 1,500,000,000.00 | ||||||||||||||||||
Total |
9,475,000,000.00 | 0.00 | 0.00 | 0.00 | 0.00 | 9,475,000,000.00 |
3. | CHASEseries Interest Funding Account Sub-Accounts |
Tranche
|
Beginning Interest Subaccount
|
Targeted deposit Funding
|
Previous shortfalls deposits to
|
Actual deposit to
|
Amount withdrawn from Subaccount for
|
Other Withdrawals
|
Ending Interest
|
|||||||||||||||||||||
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 (2014-02) |
0.00 | 1,442,708.33 | 0.00 | 1,442,708.33 | (1,442,708.33 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class A (2015-04) |
0.00 | 1,188,333.33 | 0.00 | 1,188,333.33 | (1,188,333.33 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class A (2016-03) |
0.00 | 1,281,060.67 | 0.00 | 1,281,060.67 | (1,281,060.67 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class A (2016-04) |
0.00 | 1,055,416.67 | 0.00 | 1,055,416.67 | (1,055,416.67 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class A (2017-01) |
0.00 | 1,996,104.00 | 0.00 | 1,996,104.00 | (1,996,104.00 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class A (2017-02) |
0.00 | 1,499,408.44 | 0.00 | 1,499,408.44 | (1,499,408.44 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class A (2018-01) |
0.00 | 2,980,606.22 | 0.00 | 2,980,606.22 | (2,980,606.22 | ) | 0.00 | 0.00 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total Class A |
0.00 | 12,793,637.66 | 0.00 | 12,793,637.66 | (12,793,637.66 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class B (2015-01) |
0.00 | 1,903,420.00 | 0.00 | 1,903,420.00 | (1,903,420.00 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class B (2017-01) |
0.00 | 1,876,753.33 | 0.00 | 1,876,753.33 | (1,876,753.33 | ) | 0.00 | 0.00 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total Class B |
0.00 | 3,780,173.33 | 0.00 | 3,780,173.33 | (3,780,173.33 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class C (2015-01) |
0.00 | 2,130,086.67 | 0.00 | 2,130,086.67 | (2,130,086.67 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Class C (2017-01) |
0.00 | 2,036,753.33 | 0.00 | 2,036,753.33 | (2,036,753.33 | ) | 0.00 | 0.00 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Total Class C |
0.00 | 4,166,840.00 | 0.00 | 4,166,840.00 | (4,166,840.00 | ) | 0.00 | 0.00 | ||||||||||||||||||||
Total |
0.00 | 20,740,650.99 | 0.00 | 20,740,650.99 | (20,740,650.99 | ) | 0.00 | 0.00 |
4. | CHASEseries Principal Funding Account Sub-Accounts |
Tranche
|
Beginning Principal Subaccount
|
Targeted deposit to
|
Previous shortfalls of deposits to Funding
|
Actual deposit to the
|
Amount withdrawn
|
Other Withdrawals
|
Ending Subaccount
|
|||||||||||||||||||||
Class A (2012-07) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||
Class A (2014-02) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||
Class A (2015-04) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||
Class A (2016-03) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||
Class A (2016-04) |
0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||||||||||||||||||||
Class A (2017-01) |
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 (2018-01) |
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 (2015-01) |
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 (2015-01) |
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
|
Class C
|
Targeted deposit to
|
Actual deposit to
|
Amount
|
Withdrawal of
|
Ending Class C
|
|||||||||||||||||||||
Class C (2015-01) |
71,062,500.00 | 55,371.67 | 0.00 | 0.00 | 0.00 | (55,371.67 | ) | 71,062,500.00 | ||||||||||||||||||||
Class C (2017-01) |
71,062,500.00 | 55,371.67 | 0.00 | 0.00 | 0.00 | (55,371.67 | ) | 71,062,500.00 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
Total Class C |
142,125,000.00 | 110,743.34 | 0.00 | 0.00 | 0.00 | (110,743.34 | ) | 142,125,000.00 | ||||||||||||||||||||
Total |
142,125,000.00 | 110,743.34 | 0.00 | 0.00 | 0.00 | (110,743.34 | ) | 142,125,000.00 |
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 Notes as of the close of business on the related Note Transfer Date |
Required 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 (2014-02) |
50,872,062.50 | 50,872,062.50 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Class A (2015-04) |
63,081,357.50 | 63,081,357.50 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Class A (2016-03) |
42,732,532.50 | 42,732,532.50 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Class A (2016-04) |
69,186,005.00 | 69,186,005.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
Class A (2017-01) |
73,255,770.00 | 73,255,770.00 | 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 (2018-01) |
113,953,420.00 | 113,953,420.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||||||||||||
|
|
|
|
|||||||||||||||||||||
Total |
527,034,567.50 | 527,034,567.50 | 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 business on the related
|
Class B Usage of
|
Cumulative Class B
|
|||||||||
Class B (2015-01) |
300,134,254.02 | 0.00 | 0.00 | |||||||||
Class B (2017-01) |
300,134,254.02 | 0.00 | 0.00 | |||||||||
|
|
|
|
|
|
|||||||
Total |
600,268,508.04 | 0.00 | 0.00 |
C. | Information regarding the performance of the CHASEseries |
August Monthly Period |
July Monthly Period |
June Monthly Period |
||||||||||
Yield - Finance Charge, Fees & Interchange |
19.38% | 19.73% | 20.04% | |||||||||
Plus: Yield - Collections of Discount Receivables |
0.00% | 0.00% | 0.00% | |||||||||
Less: Net Credit Losses |
2.45% | 2.21% | 2.42% | |||||||||
(a) Portfolio Yield |
16.93% | 17.52% | 17.62% | |||||||||
Less: |
||||||||||||
Coupon |
2.50% | 2.45% | 2.36% | |||||||||
Plus: Servicing Fee |
1.50% | 1.50% | 1.50% | |||||||||
(b) Base Rate |
4.00% | 3.95% | 3.86% | |||||||||
(a) - (b) = Excess Spread Percentage |
12.93% | 13.57% | 13.76% | |||||||||
Three Month Average Excess Spread Percentage |
13.42% | 13.79% | 13.79% | |||||||||
Excess Spread Amount paid to Transferor |
$ | 104,043,830.75 | $ | 127,290,621.11 | $ | 139,862,224.61 | ||||||
Principal Payment Rate |
34.97% | 36.03% | 34.79% |
JPMorgan Chase Bank, National Association, as Servicer | ||||
By: /s/ Patricia Garvey | ||||
Patricia Garvey | ||||
Executive Director |