0001193125-19-245265.txt : 20190916 0001193125-19-245265.hdr.sgml : 20190916 20190916060533 ACCESSION NUMBER: 0001193125-19-245265 CONFORMED SUBMISSION TYPE: 10-D PUBLIC DOCUMENT COUNT: 4 CONFORMED PERIOD OF REPORT: 20190831 0001658982 0000869090 FILED AS OF DATE: 20190916 DATE AS OF CHANGE: 20190916 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: 191093592 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: 191093591 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 d801213d10d.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

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
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: September 16, 2019

    By:  

 

JPMORGAN CHASE BANK, NATIONAL ASSOCIATION,

 
     

 

        as Servicer

 
     

 

            /s/ Patricia Garvey                                    

 
     

 

        Name:   Patricia Garvey

 
     

 

        Title:     Executive Director

 
EX-99.1 2 d801213dex991.htm EX-99.1 EX-99.1

Exhibit 99.1

CHASE ISSUANCE TRUST

Monthly Information Officer’s 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
EX-99.2 3 d801213dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

CHASE ISSUANCE TRUST

Asset Pool One Monthly Servicer’s 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 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 (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      
 

Seller’s Interest

     17,800,583,682.60  
 

Seller’s 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 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 September 12, 2019.

 

JPMorgan Chase Bank, National Association, as Servicer

By:    /s/ Patricia Garvey

 

         Patricia Garvey
          Executive Director
EX-99.3 4 d801213dex993.htm EX-99.3 EX-99.3

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    
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 (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
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 (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
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 (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
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 (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
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 (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
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 (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
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 (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