Alston & Bird represented JPMorgan Chase Bank N.A. as sponsor, originator, administrator, and servicer; Chase Card Funding LLC as depositor and transferor; and Chase Issuance Trust as issuing entity on the public securitization of approximately $1.5 billion in credit card receivables. The securitization consisted of Class A (2025-1) notes issued by Chase Issuance Trust and rated AAAsf by Fitch Inc. and AAA(sf) by S&P Global Ratings. J.P. Morgan, Barclays, CastleOak Securities L.P., Mischler Financial Group Inc., Scotiabank, Siebert Williams Shank, and TD Securities were the underwriters for the SEC-registered issuance, which closed on July 25, 2025.
Representing JPMorgan Chase was an Alston & Bird team led by partner B.K. Lee (Credit Card Securitizations; Structured & Warehouse Finance), along with partners Joe McKernan, Jason Solomon, and Pat Sargent, senior associate Tom Dunn, and associate Edward Leaf (Finance); partner Clay Littlefield (Federal & International Tax); partner Steve Ornstein and senior associate Josh Dhyani (Financial Services); partner Jacob Johnson and counsel Anna Nolan (Financial Restructuring & Reorganization); partner David Baum (Investment Funds); and counsel Fahad Saghir (Employee Benefits & Executive Compensation).