Material Event (Form 8-K)

Item 8.01 Other Events

On May 22, 2025 (the "Closing Date"), Chase Issuance Trust, as issuing entity, Chase Card Funding LLC ("Chase Card Funding"), as depositor and transferor, and JPMorgan Chase Bank, National Association (the "Bank"), as sponsor, originator, administrator and servicer, completed the securitization of approximately $1,500,000,000 of credit card receivables. The securitization consists of $750,000,000 Class B(2025-1) notes and $750,000,000 Class C(2025-1) notes. The Class B(2025-1) notes and the Class C(2025-1) notes are part of a series of notes called the CHASEseries. The CHASEseries consists of Class A notes, Class B notes and Class C notes. The Class B(2025-1) notes are a tranche of the Class B notes of the CHASEseries and the Class C(2025-1) notes are a tranche of the Class C notes of the CHASEseries.

The Class B(2025-1) notes and the Class C(2025-1) notes have not been registered under the Securities Act of 1933, as amended, or any state securities or blue sky law. The Class B(2025-1) notes and the Class C(2025-1) notes have been initially issued in definitive, certificated form and shall initially be retained by and registered in the name of Chase Card Funding LLC.

The Bank services the receivables that are included in the securitization and it will continue to service the accounts associated with such receivables following the securitization.

Credit Risk Retention

As of the Closing Date, the Transferor Amount or seller's interest retained by Chase Card Funding was $3.90 billion and the Seller's Interest Percentage, equal to the percentage equivalent of the Transferor Amount divided by the aggregate principal amount of outstanding CHASEseries notes, was 46.72%.

Section 9 - Financial Statements and Exhibits