CHASE ISSUANCE TRUST CHASESERIES CLASS A(2016-7) NOTES TERMS AGREEMENT

Exhibit 1.1

CHASE ISSUANCE TRUST

CHASESERIES

CLASS A(2016-7) NOTES

TERMS AGREEMENT

Dated: September 6, 2016

To:       CHASE BANK USA, NATIONAL ASSOCIATION (the “Bank”)

Re:       Underwriting Agreement dated August 1, 2016 (the “Underwriting Agreement”)

Series Designation: CHASEseries

Underwriters:

The Underwriters named on Schedule I attached hereto are the “Underwriters” for the purpose of this Terms Agreement (this “Agreement”) and for the purposes of the above referenced Underwriting Agreement as such Underwriting Agreement is incorporated herein in its entirety and made a part hereof.

Terms of the Class A(2016-7)Notes:

Initial Principal                   Amount		Interest             Rate or Formula		Price to                     Public
$1,100,000,000		1.06% per annum		99.99138%

Interest Payment Dates:  The 15th of each calendar month or if that day is not a Business Day, as defined in the Indenture, the next succeeding Business Day, commencing October 17, 2016.

Indenture:    The Fourth Amended and Restated Indenture, dated as of January 20, 2016, as amended, between Chase Issuance Trust, as Issuing Entity, and Xxxxx Fargo Bank, National Association, as Indenture Trustee, and acknowledged and accepted by the Bank, as Servicer.

Asset Pool One Supplement:    The Third Amended and Restated Asset Pool One Supplement, dated as of January 20, 2016, as amended, between Chase Issuance Trust, as Issuing Entity, and Xxxxx Fargo Bank, National Association, as Indenture Trustee and Collateral Agent, and acknowledged and accepted by the Bank, as Servicer and Administrator.

Indenture Supplement:  The Second Amended and Restated CHASEseries Indenture Supplement, dated as of January 20, 2016, between Chase Issuance Trust, as Issuing Entity, and Xxxxx Fargo Bank, National Association, as Indenture Trustee and Collateral Agent.

Terms Document:  The Class A(2016-7) Terms Document, to be dated as of September 13, 2016, between Chase Issuance Trust, as Issuing Entity, and Xxxxx Fargo Bank, National Association, as Indenture Trustee and Collateral Agent.

Transfer and Servicing Agreement:  The Fourth Amended and Restated Transfer and Servicing Agreement, dated as of January 20, 2016, as amended, among Chase Card Funding LLC, as Transferor, the Bank, as Servicer, Chase Issuance Trust, as Issuing Entity, and Xxxxx Fargo Bank, National Association, as Indenture Trustee and Collateral Agent.

Receivables Purchase Agreement:  The Receivables Purchase Agreement, dated as of January 20, 2016, between Chase Card Funding LLC and the Bank.

Purchase Price:  The purchase price payable by the Underwriters for the Notes covered by this Agreement will be the following percentage of the principal amounts to be issued:

Per Class A(2016-7) Notes: 99.79138%

Registration Statements:  333-208503 and 000-000000-00

Preliminary Prospectus:  Preliminary Prospectus, dated August 30, 2016.

Underwriting Discounts and Commissions, Selling Concessions and Reallowance:

The Underwriters’ discounts and commissions, the selling concessions that the Underwriters may allow to certain dealers, and the discounts that such dealers may reallow to certain other dealers, each expressed as a percentage of the principal amount of the Class A(2016-7) Notes, shall be as follows:

Underwriting Discounts and  Commissions		Selling Concessions		Reallowance
0.20000%		0.12000%		0.06000%

Underwriters’ Information:      The information furnished by the Underwriters through the Representative for purposes of subsection 9(a) of the Underwriting Agreement consists of the chart and the second, third and eleventh paragraphs under the heading “Underwriting” in the Prospectus.

Most Recent Quarterly Filing Date: August 1, 2016.

Closing Date:    Pursuant to Rule 15c6-1(d) under the Securities Exchange Act of 1934, as amended, the Underwriters, the Bank, the Depositor and the Issuing Entity hereby agree that the Closing Date shall be September 13, 2016 at 10:00 a.m., New York Time.

Time of Sale:  2:30 p.m. (New York Time) on September 6, 2016.

Location of Closing:  Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP, Xxxx Xxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000.

2

Underwriters’ Foreign Jurisdiction Distributions:

Pursuant to subsection 15(c) of the Underwriting Agreement, each Underwriter agrees to provide the Issuing Entity, after the Closing Date, with a list of any foreign jurisdictions to which that Underwriter delivered a written confirmation in connection with its sale of Notes (it being expressly understood, for the avoidance of doubt, that this provision relates only to the initial distribution of the Notes, and not to secondary market sales).

Payment for the Notes:

The Underwriters agree, severally and not jointly, subject to the terms and provisions of the above referenced Underwriting Agreement which is incorporated herein in its entirety and made a part hereof, to purchase the respective principal amounts of the above referenced Series of Notes set forth opposite their names on Schedule I hereto.

3

		X.X. XXXXXX SECURITIES LLC
		As Representative of the
				Underwriters named in
				Schedule I hereto
		By:		/s/ Xxxxxxxxx Xxxxxx
				Name:		Xxxxxxxxx Xxxxxx
				Title:		Managing Director

Accepted:
CHASE BANK USA, NATIONAL ASSOCIATION
By:		/s/ Xxxx X. Xxxxxx
		Name:		Xxxx X. Xxxxxx
		Title:		Managing Director
CHASE CARD FUNDING LLC
By:		/s/ Xxx Xxxx
		Name:		Xxx Xxxx
		Title:		Deputy Chief Executive Officer
CHASE ISSUANCE TRUST
By:		CHASE BANK USA, NATIONAL ASSOCIATION
		as Administrator
By:		/s/ Xxxx X. Xxxxxx
		Name:		Xxxx X. Xxxxxx
		Title:		Managing Director

Chase Issuance Trust

CHASEseries Class A(2016-7) Terms Agreement

SCHEDULE I

UNDERWRITERS

$1,100,000,000 Principal Amount of CHASEseries Class A(2016-7) Notes

		Principal Amount
X.X. Xxxxxx Securities LLC						$ 368,000,000
RBC Capital Markets, LLC						$ 366,000,000
Xxxxx Fargo Securities, LLC						$ 366,000,000
Total			$ 1,100,000,000

Annex I

TIME OF SALE INFORMATION

● Preliminary Prospectus, dated as of August 30, 2016.

ANNEX II

ISSUER FREE WRITING PROSPECTUSES

● Ratings FWP, dated September 6, 2016.

● Pricing FWP, dated September 6, 2016.