CHAMT solicitation materials

Published May 21, 2003 12:00 AM EDT 1 Min Read

licitation materials seeking bondholder approval to amend the Chase Credit Card Master Trust 1996-2, 1996-3 and 1999-3 credit card securitizations, which will allow the pooling of excess spread, are scheduled to be mailed by Proxy Agent Mellon Investor Services LLC on May 23. “If enacted, the Base Rate Pay Out Event would be calculated using the Portfolio Supplemented Yield which would include the Portfolio Yield plus a specified amount of shared excess finance charges,” according to JPMorgan Securities research. At least 50% of note holders must approve the amendment.

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