CHASE ISSUANCE TRUST. Asset Pool One Monthly Servicer's Certificate

Transcription

1 CHASE ISSUANCE TRUST Asset Pool One Monthly Servicer's Certificate Monthly Period: January 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. As of the date hereof, Chase Bank USA, National Association is the Servicer and Administrator under the Transfer and Servicing Agreement and Chase Card Funding LLC is the Transferor. The undersigned is a Responsible Officer of Servicer. 4. Collateral of Asset Pool One Principal Receivables Excess Funding Beginning Balance Ending Balance 43,492,392, ,990,616, ,492,392, ,990,616, a. The Nominal Liquidation of all Asset Pool One Notes as of the last day of the related Monthly Period CHASEseries 33,870,000,00 33,870,000,00 5b. Asset Pool One Transferor for the related Monthly Period 5c. Asset Pool One Required Transferor for the related Monthly Period 8,120,616, ,099,530, d. 5e. Asset Pool One Pool Balance for the related Monthly Period Asset Pool One Minimum Pool Balance for the related Monthly Period 41,990,616, ,100,000,00 6a. The aggregate amount of Collections of Principal Receivables received by Asset Pool One for the related Monthly Period 13,520,781, b. 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 7a. CHASEseries The aggregate amount of Collections of Finance Charge Receivables received by Asset Pool One for the related Monthly Period 77.88% 10,529,401, % 10,529,401, ,683, Collections of Discount Receivables included in 7a above b. 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 77.88% 494,264, % 494,264, a. The Asset Pool One Servicing Fee for the related Monthly Period 54,365, b. 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 77.88% 42,337, % 42,337,50

2 9a. The Asset Pool One Default for the related Monthly Period 82,841, b. The Asset Pool One Default allocated to each Series pursuant to subsection 3.2(b) of the Asset Pool One Supplement for the related Monthly Period CHASEseries 77.88% 64,513, % 64,513, Delinquencies as of the last day of the related Monthly Period Number of Accounts of Receivables (1) Percentage of Receivables days 24, ,057, % days 15, ,703, % days 12,792 95,942, % days 10,952 85,999, % days 9,568 76,871, % 180 or more days , % 72, ,242, % 11. Losses and Recoveries for the related Monthly Period Average Pool Balance (2) 43,492,392, Gross Losses (3) 90,682, Gross Losses as a Percentage of Average Pool Balance 2.50% Recoveries (4) 7,841, Net Losses (5) 82,841, Net Losses as a Percentage of Average Pool Balance 2.29% Number of Accounts Charged Off During the Monthly Period 14,610 Average Net Loss on Accounts Charged Off during the Monthly Period 5, Change in Sponsor's or affiliate's interest in securities for the related Monthly Period CHASEseries Notes Held by the Sponsor or an Affiliate (6) As of Last Day of Previous Monthly Period As of Last Day of Monthly Period Class B ( ) Class B ( ) Class B ( ) Class B ( ) Class C ( ) Class C ( ) Class C ( ) Class C ( ) 75,000,00 1,000,000,00 750,000,00 750,000,00 75,000,00 1,000,000,00 750,000,00 750,000,00 5,150,000,00 Class B ( ) 75,000,00 Class B ( ) 1,000,000,00 Class B ( ) 750,000,00 Class B ( ) 750,000,00 Class C ( ) 75,000,00 Class C ( ) 1,000,000,00 Class C ( ) 750,000,00 Class C ( ) 750,000,00 5,150,000, Credit Risk Retention As of Last Day of Monthly Period Seller's Interest Seller's Interest (%) (7) 8,120,616, %

3 (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. (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. (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, 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 February 13, CHASE BANK USA, NATIONAL ASSOCIATION, as Servicer By: /s/ Patricia Garvey Patricia Garvey Executive Director

4 CHASE ISSUANCE TRUST Form of CHASEseries Monthly Noteholders' Statement Monthly Period: January 2017 The undersigned, a duly authorized representative of Chase Bank USA, 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 February 15, 2017 per $1,000 Initial Outstanding Dollar Principal Class A ( ) 1, Class A ( ) 1, Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class B ( ) 1, Class B ( ) Class B ( ) Class B ( ) Class B ( ) Class C ( ) 1, Class C ( ) Class C ( ) Class C ( ) Class C ( )

5 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 Interest Rate Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class A ( ) % Class B ( ) % Class B ( ) % Class B ( ) % Class B ( ) % Class B ( ) % Class C ( ) % Class C ( ) % Class C ( ) % Class C ( ) % Class C ( ) %

6 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 Class A ( ) 1,00000 Class A ( ) 1,00000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class A ( ) 000 Class B ( ) 1,00000 Class B ( ) 000 Class B ( ) 000 Class B ( ) 000 Class B ( ) 000 Class C ( ) 1,00000 Class C ( ) 000 Class C ( ) 000 Class C ( ) 000 Class C ( ) 000

7 B. 1. Information regarding the s of Notes of the CHASEseries Outstanding Dollar Principal and Nominal Liquidation of s of Notes of the CHASEseries for the related Monthly Period Initial Outstanding Dollar Principal Outstanding Dollar Principal Adjusted Outstanding Dollar Principal Nominal Liquidation Class A ( ) 400,000,00 400,000,00 400,000,00 400,000,00 Class A ( ) 450,000,00 450,000,00 450,000,00 450,000,00 Class A ( ) 470,000,00 470,000,00 470,000,00 470,000,00 Class A ( ) 405,000,00 405,000,00 405,000,00 405,000,00 Class A ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Class A ( ) 1,500,000,00 1,500,000,00 1,500,000,00 1,500,000,00 Class A ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Class A ( ) 900,000,00 900,000,00 900,000,00 900,000,00 Class A ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Class A ( ) 625,000,00 625,000,00 625,000,00 625,000,00 Class A ( ) 900,000,00 900,000,00 900,000,00 900,000,00 Class A ( ) 775,000,00 775,000,00 775,000,00 775,000,00 Class A ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Class A ( ) 625,000,00 625,000,00 625,000,00 625,000,00 Class A ( ) 825,000,00 825,000,00 825,000,00 825,000,00 Class A ( ) 500,000,00 500,000,00 500,000,00 500,000,00 Class A ( ) 1,300,000,00 1,300,000,00 1,300,000,00 1,300,000,00 Class A ( ) 350,000,00 350,000,00 350,000,00 350,000,00 Class A ( ) 2,125,000,00 2,125,000,00 2,125,000,00 2,125,000,00 Class A ( ) 775,000,00 775,000,00 775,000,00 775,000,00 Class A ( ) 775,000,00 775,000,00 775,000,00 775,000,00 Class A ( ) 1,100,000,00 1,100,000,00 1,100,000,00 1,100,000,00 Class A ( ) 1,000,000,00 1,000,000,00 1,000,000,00 1,000,000,00 Class A ( ) 700,000,00 700,000,00 700,000,00 700,000,00 Class A ( ) 1,500,000,00 1,500,000,00 1,500,000,00 1,500,000,00 Class A ( ) 1,800,000,00 1,800,000,00 1,800,000,00 1,800,000,00 Class A ( ) 525,000,00 525,000,00 525,000,00 525,000,00 Class A ( ) 850,000,00 850,000,00 850,000,00 850,000,00 Class A ( ) 1,350,000,00 1,350,000,00 1,350,000,00 1,350,000,00 Class A ( ) 1,175,000,00 1,175,000,00 1,175,000,00 1,175,000,00 Class A ( ) 1,100,000,00 1,100,000,00 1,100,000,00 1,100,000,00 Total Class A 27,800,000,00 27,800,000,00 27,800,000,00 27,800,000,00 Class B ( ) 515,000,00 515,000,00 515,000,00 515,000,00 Class B ( ) 75,000,00 75,000,00 75,000,00 75,000,00 Class B ( ) 1,000,000,00 1,000,000,00 1,000,000,00 1,000,000,00 Class B ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Class B ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Total Class B 3,090,000,00 3,090,000,00 3,090,000,00 3,090,000,00 Class C ( ) 405,000,00 405,000,00 405,000,00 405,000,00 Class C ( ) 75,000,00 75,000,00 75,000,00 75,000,00 Class C ( ) 1,000,000,00 1,000,000,00 1,000,000,00 1,000,000,00 Class C ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Class C ( ) 750,000,00 750,000,00 750,000,00 750,000,00 Total Class C 2,980,000,00 2,980,000,00 2,980,000,00 2,980,000,00 Total 33,870,000,00 33,870,000,00 33,870,000,00 33,870,000,00

8 2. Nominal Liquidation of Notes of the CHASEseries Beginning Nominal Liquidation Increases from amounts withdrawn from the Principal Funding Subaccounts in respect of Prefunding Excess s Reimbursements of prior Nominal Liquidation 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 Class A ( ) 400,000,00 (400,000,00) Class A ( ) 450,000,00 (450,000,00) Class A ( ) 470,000,00 470,000,00 Class A ( ) 405,000,00 405,000,00 Class A ( ) 750,000,00 750,000,00 Class A ( ) 1,500,000,00 1,500,000,00 Class A ( ) 750,000,00 750,000,00 Class A ( ) 900,000,00 900,000,00 Class A ( ) 750,000,00 750,000,00 Class A ( ) 625,000,00 625,000,00 Class A ( ) 900,000,00 900,000,00 Class A ( ) 775,000,00 775,000,00 Class A ( ) 750,000,00 750,000,00 Class A ( ) 625,000,00 625,000,00 Class A ( ) 825,000,00 825,000,00 Class A ( ) 500,000,00 500,000,00 Class A ( ) 1,300,000,00 1,300,000,00 Class A ( ) 350,000,00 350,000,00 Class A ( ) 2,125,000,00 2,125,000,00 Class A ( ) 775,000,00 775,000,00 Class A ( ) 775,000,00 775,000,00 Class A ( ) 1,100,000,00 1,100,000,00 Class A ( ) 1,000,000,00 1,000,000,00 Class A ( ) 700,000,00 700,000,00 Class A ( ) 1,500,000,00 1,500,000,00 Class A ( ) 1,800,000,00 1,800,000,00 Class A ( ) 525,000,00 525,000,00 Class A ( ) 850,000,00 850,000,00 Class A ( ) 1,350,000,00 1,350,000,00 Class A ( ) 1,175,000,00 1,175,000,00 Class A ( ) 1,100,000,00 1,100,000,00 Total Class A 27,800,000,00 (850,000,00) 26,950,000,00 Class B ( ) 515,000,00 (515,000,00) Class B ( ) 75,000,00 75,000,00 Class B ( ) 1,000,000,00 1,000,000,00 Class B ( ) 750,000,00 750,000,00 Class B ( ) 750,000,00 750,000,00 Total Class B 3,090,000,00 (515,000,00) 2,575,000,00 Class C ( ) 405,000,00 (405,000,00) Class C ( ) 75,000,00 75,000,00 Class C ( ) 1,000,000,00 1,000,000,00 Class C ( ) 750,000,00 750,000,00 Class C ( ) 750,000,00 750,000,00 Total Class C 2,980,000,00 (405,000,00) 2,575,000,00 Total 33,870,000,00 (1,770,000,00) 32,100,000,00

9 3. CHASEseries Interest Funding Account Sub-Accounts 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 withdrawn from the Interest Funding Subaccount for payment to Noteholders Other Withdrawals Ending Interest Funding Subaccount Balance Class A ( ) 263, , (263,326.44) Class A ( ) 1,961,25 1,961,25 (1,961,25) Class A ( ) 305, , (305,622.46) Class A ( ) 266, , (266,618.03) Class A ( ) 626, , (626,653.75) Class A ( ) 1,975,00 1,975,00 (1,975,00) Class A ( ) 1,350,00 1,350,00 (1,350,00) Class A ( ) 744, , (744,734.50) Class A ( ) 812,50 812,50 (812,50) Class A ( ) 527, , (527,246.18) Class A ( ) 860, , (860,734.50) Class A ( ) 747, , (747,431.10) Class A ( ) 717, , (717,278.75) Class A ( ) 1,442, ,442, (1,442,708.33) Class A ( ) 755, , (755,777.46) Class A ( ) 525,00 525,00 (525,00) Class A ( ) 1,495,00 1,495,00 (1,495,00) Class A ( ) 306, , (306,535.64) Class A ( ) 2,815, ,815, (2,815,625.00) Class A ( ) 635, , (635,056.10) Class A ( ) 1,188, ,188, (1,188,333.33) Class A ( ) 1,246, ,246, (1,246,666.67) Class A ( ) 819, , (819,427.22) Class A ( ) 945,00 945,00 (945,00) Class A ( ) 1,422, ,422, (1,422,474.17) Class A ( ) 2,055,00 2,055,00 (2,055,00) Class A ( ) 557, , (557,074.29) Class A ( ) 1,055, ,055, (1,055,416.67) Class A ( ) 1,428,75 1,428,75 (1,428,75) Class A ( ) 1,077, ,077, (1,077,083.33) Class A ( ) 971, , (971,666.67) Total Class A 31,900, ,900, (31,900,990.59) Class B ( ) 422, , (422,005.02) Class B ( ) 104, , (104,352.88) Class B ( ) 1,109, ,109, (1,109,427.22) Class B ( ) 886, , (886,445.42) Class B ( ) 862, , (862,278.75) Total Class B 3,384, ,384, (3,384,509.29) Class C ( ) 400, , (400,380.53) Class C ( ) 143, , (143,019.54) Class C ( ) 1,391, ,391, (1,391,371.67) Class C ( ) 1,067, ,067, (1,067,695.42) Class C ( ) 1,067, ,067, (1,067,695.42) Total Class C 4,070, ,070, (4,070,162.58) Total 39,355, ,355, (39,355,662.46)

10 4. CHASEseries Principal Funding Account Sub-Accounts 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 withdrawn from the Principal Funding Subaccount for payment to Noteholders Other Withdrawals Ending Principal Funding Subaccount Balance Class A ( ) 400,000,00 400,000,00 (400,000,00) Class A ( ) 450,000,00 450,000,00 (450,000,00) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Class A ( ) Total Class A 850,000,00 850,000,00 (850,000,00) Class B ( ) 515,000,00 515,000,00 (515,000,00) Class B ( ) Class B ( ) Class B ( ) Class B ( ) Total Class B 515,000,00 515,000,00 (515,000,00) Class C ( ) 405,000,00 405,000,00 (405,000,00) Class C ( ) Class C ( ) Class C ( ) Class C ( ) Total Class C 405,000,00 405,000,00 (405,000,00) Total 1,770,000,00 1,770,000,00 (1,770,000,00) 5. CHASEseries Class C Reserve Sub-Accounts 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 s withdrawn in respect of payment of interest or principal to Noteholders Withdrawal of Excess s pursuant to subsection 3.25(c) of the Indenture Supplement Ending Class C Reserve Subaccount Balance Class C ( ) 69,047, , (69,063,811.03) Class C ( ) 12,786, , ,234, ,234, ,024, Class C ( ) 170,486, , ,462, ,462, ,990, Class C ( ) 127,864, , ,346, ,346, ,242, Class C ( ) 127,864, , ,344, ,344, ,242, Total Class C 508,050,00 125, ,388, ,388, (69,063,811.03) 481,500,00 Total 508,050,00 125, ,388, ,388, (69,063,811.03) 481,500,00

11 6. Class A Required of Class B and Class C Notes and Class A Usage of Class B and Class C Required s Required of Class B Notes as of the close of business on the related Note Transfer Date Required of Class C Notes as of the close of business on the related Note Transfer Date Class A Usage of Class B Required for the current period Class A Usage of Class C Required for the current period Cumulative Class A Usage of Class B Required Cumulative Class A Usage of Class C Required Class A ( ) Class A ( ) Class A ( ) 38,255, ,255, Class A ( ) 32,965, ,965, Class A ( ) 61,046, ,046, Class A ( ) 122,092,95 122,092,95 Class A ( ) 61,046, ,046, Class A ( ) 73,255,77 73,255,77 Class A ( ) 61,046, ,046, Class A ( ) 50,872, ,872, Class A ( ) 73,255,77 73,255,77 Class A ( ) 63,081, ,081, Class A ( ) 61,046, ,046, Class A ( ) 50,872, ,872, Class A ( ) 67,151, ,151, Class A ( ) 40,697,65 40,697,65 Class A ( ) 105,813,89 105,813,89 Class A ( ) 28,488, ,488, Class A ( ) 172,965, ,965, Class A ( ) 63,081, ,081, Class A ( ) 63,081, ,081, Class A ( ) 89,534,83 89,534,83 Class A ( ) 81,395,30 81,395,30 Class A ( ) 56,976,71 56,976,71 Class A ( ) 122,092,95 122,092,95 Class A ( ) 146,511,54 146,511,54 Class A ( ) 42,732, ,732, Class A ( ) 69,186, ,186, Class A ( ) 109,883, ,883, Class A ( ) 95,639, ,639, Class A ( ) 89,534,83 89,534,83 Total 2,193,603, ,193,603,335.00

12 7. Class B Required of Class C Notes and Class B Usage of Class C Required s Required of Class C Notes as of the close of business on the related Note Transfer Date Class B Usage of Class C Required for the current period Cumulative Class B Usage of Class C Required Class B ( ) Class B ( ) 64,727, Class B ( ) 863,033, Class B ( ) 647,274, Class B ( ) 647,274, Total 2,222,310, C. Information regarding the performance of the CHASEseries January Monthly Period December Monthly Period November Monthly Period Yield - Finance Charge, Fees & Interchange Plus: Yield - Collections of Discount Receivables Less: Net Credit Losses 17.18% 18.46% 18.24% % % % 2.29% 2.25% 2.12% (a) Portfolio Yield 14.89% 16.21% 16.12% Less: Coupon Plus: Servicing Fee 1.42% 1.37% 1.29% 1.50% 1.50% 1.50% (b) Base Rate 2.92% 2.87% 2.79% (a) - (b) = Excess Spread Percentage Three Month Average Excess Spread Percentage Excess Spread paid to Transferor 11.97% 13.34% 13.33% 12.88% 13.15% 13.15% $348,148, $403,050, $386,709, Principal Payment Rate 31.09% 30.53% 28.53% CHASE BANK USA, NATIONAL ASSOCIATION, as Servicer By: /s/ Patricia Garvey Patricia Garvey Executive Director