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<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM <FONT
STYLE="white-space:nowrap">8-K</FONT> </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT
REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Pursuant to Section&nbsp;13 or 15(d) of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>the Securities Exchange Act of 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): February&nbsp;1, 2019 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
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<TD VALIGN="top" ALIGN="center"><B>Commission File Number:</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Commission File Number:</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Commission File Number:</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Commission File Number:</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-141703-02;</FONT></FONT><BR><FONT
STYLE="white-space:nowrap">333-167413;</FONT><BR><FONT STYLE="white-space:nowrap">333-191359;</FONT><BR><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-205455-01;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-228025-02</FONT></FONT></B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">333-141703;</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-167413-02;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-191359-02;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-205455-02;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-228025-01;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">000-23108</FONT></B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">333-205455;</FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">333-228025</FONT><BR></B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-141703-01;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-167413-01;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-191359-01;</FONT></FONT></B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">033-54804</FONT></B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCOVER CARD EXECUTION NOTE</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TRUST</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCOVER CARD</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>MASTER TRUST I</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DISCOVER FUNDING</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>LLC</B></P></TD>
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<TD VALIGN="top" ALIGN="center"><B>DISCOVER BANK</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of issuing</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>entity in respect of the notes</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>as specified in charter)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of issuing</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>entity in respect of the</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>Series <FONT STYLE="white-space:nowrap">2007-CC</FONT> Collateral Certificate)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of depositor</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>as specified in charter)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Exact name of sponsor as</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>specified in charter)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of the issuing entity)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of the issuing entity)</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of the depositor)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(State or jurisdiction of</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>incorporation or organization</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>of the sponsor)</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>c/o Wilmington Trust</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Company</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Rodney Square
North</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>1100 North Market Street Wilmington, Delaware</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>19890-0001</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>c/o Discover Bank</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>12 Read&#146;s Way</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New
Castle, Delaware</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>19720</B></P></TD>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Discover Funding LLC</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>12 Read&#146;s Way</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New
Castle, Delaware</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>19720</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Discover Bank</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>12 Read&#146;s Way</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>New
Castle, Delaware</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>19720</B></P></TD></TR>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>executive offices of the</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>issuing entity)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>executive offices of the</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>issuing entity)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>executive offices of the</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>depositor)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Address of principal</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>executive offices of the</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>sponsor)</B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">51-0020270</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer Identification No. of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>the sponsor and depositor) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><FONT STYLE="white-space:nowrap">47-4047337</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(IRS Employer Identification No. of </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>the depositor) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(302) <FONT
STYLE="white-space:nowrap">323-7315</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Telephone, including area code) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Former name or former address, if changed since last report: Not Applicable </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form <FONT STYLE="white-space:nowrap">8-K</FONT> filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </P></TD></TR></TABLE>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Soliciting material pursuant to Rule <FONT STYLE="white-space:nowrap">14a-12</FONT> under the Exchange Act (17
CFR <FONT STYLE="white-space:nowrap">240.14a-12)</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">14d-2(b)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.14d-2(b))</FONT> </P></TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><FONT STYLE="white-space:nowrap">Pre-commencement</FONT> communications pursuant to Rule <FONT
STYLE="white-space:nowrap">13e-4(c)</FONT> under the Exchange Act (17 CFR <FONT STYLE="white-space:nowrap">240.13e-4(c))</FONT> </P></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this
chapter) or Rule <FONT STYLE="white-space:nowrap">12b-2</FONT> of the Securities Exchange Act of 1934 <FONT STYLE="white-space:nowrap">(&#167;240.12b-2</FONT> of this chapter). </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Emerging growth company&nbsp;&nbsp;&#9744; </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section&nbsp;13(a) of the Exchange
Act.&nbsp;&nbsp;&#9744; </P> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Item 1.01 <U>Entry Into a Material Definitive Agreement</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;1, 2019, Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee, entered into
the <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Terms Document. A copy of the <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Terms Document is filed as <U>Exhibit 4.1</U> to this Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> and is incorporated herein by reference. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On February&nbsp;1, 2019, Discover Card Execution Note
Trust, Discover Funding LLC and Discover Bank entered into a Risk Retention Agreement with respect to the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes (the &#147;<U>Class</U><U></U><U><FONT
STYLE="white-space:nowrap">&nbsp;A(2019-1)</FONT> Risk Retention Agreement</U>&#148;). A copy of the <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Risk Retention Agreement is filed as <U>Exhibit 4.2</U> to this Current Report on Form <FONT
STYLE="white-space:nowrap">8-K</FONT> and is incorporated herein by reference. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Item 8.01 <U>Other Events</U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Issuance of Class</U><U></U><U><FONT STYLE="white-space:nowrap">&nbsp;A(2019-1)</FONT> Notes</U>. On February&nbsp;1, 2019, Discover Card
Execution Note Trust issued $1,250,000,000 principal amount of DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes pursuant to the Amended and Restated Indenture, dated as of December&nbsp;22, 2015, as supplemented by
the Second Amended and Restated Indenture Supplement, dated as of December&nbsp;22, 2015, each between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association as Indenture Trustee, and the
<FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Terms Document, dated as of February&nbsp;1, 2019, between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Use of Proceeds &#151; Class</U><U></U><U><FONT STYLE="white-space:nowrap">&nbsp;A(2019-1)</FONT> Notes</U>. The public offering of
DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes was made under the registration statement on Form <FONT STYLE="white-space:nowrap">SF-3</FONT> (File Nos. <FONT STYLE="white-space:nowrap">333-228025,</FONT> <FONT
STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-228025-01,</FONT></FONT> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-228025-02)</FONT></FONT> filed with the Securities and Exchange Commission on
October&nbsp;26, 2018 and declared effective on November&nbsp;15, 2018 (the &#147;<U>Registration Statement</U>&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The public
offering of the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes was terminated on February&nbsp;1, 2019 upon the sale of all of the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes.
The underwriters of the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes were Barclays Capital Inc., Citigroup Global Markets Inc. Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner&nbsp;&amp; Smith
Incorporated, MUFG Securities Americas Inc., RBC Capital Markets, LLC and SG Americas Securities, LLC. The price to the public of the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes was $1,249,973,500 (or
99.99788%). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">During the period from the effective date of the Registration Statement through the current reporting period, the amount of
expenses incurred in connection with the issuance and distribution of the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes with respect to underwriting commissions and discounts was $3,125,000. After deducting the
underwriting commission and discount described in the preceding sentence, the net offering proceeds of Discover Card Execution Note Trust before expenses for the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes are
$1,246,848,500. Other expenses, including legal fees and other costs and expenses, are reasonably estimated to be $780,000 and net proceeds of Discover Card Execution Note Trust, after deduction of expenses, are reasonably estimated to be
$1,246,068,500 total proceeds. With respect to the payment of these other expenses and costs, all direct or indirect payments were made to persons other than persons who are (a)&nbsp;directors or officers of Discover Card Execution Note Trust or
(b)&nbsp;owners of 10&nbsp;percent or more of any class of securities of Discover Card Execution Note Trust. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The net proceeds of Discover
Card Execution Note Trust, after deducting the underwriting commissions and discounts, and expenses above, were paid to Discover Bank in exchange for an increase in the investor interest in receivables represented by the collateral certificate.
Discover Bank will add those proceeds to its general funds. Except as provided in the previous sentence, none of the proceeds were used for payments to (a)&nbsp;directors or officers of Discover Card Execution Note Trust or (b)&nbsp;owners of
10&nbsp;percent or more of any class of securities of Discover Card Execution Note Trust. </P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman"><U>Increase in Principal Amount of
Class</U><U></U><U><FONT STYLE="white-space:nowrap">&nbsp;D(2009-1)</FONT> Notes</U>. On February&nbsp;1, 2019, Discover Bank, pursuant to Section&nbsp;2.03 of the Amended and Restated Note Purchase Agreement (the &#147;<U>Note Purchase
Agreement</U>&#148;), dated as of January&nbsp;1, 2016, among Discover Card Execution Note Trust, as Issuer, Discover Bank, as Sponsor, Discover Funding LLC, as Transferor, and the purchasers named therein and Section&nbsp;2.06 of the <FONT
STYLE="white-space:nowrap">Class&nbsp;D(2009-1)</FONT> Terms Document, dated as of July&nbsp;2, 2009, by and between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee, increased the Outstanding
Dollar Principal Amount of the <FONT STYLE="white-space:nowrap">Class&nbsp;D(2009-1)</FONT> Notes. The increase in the Outstanding Dollar Principal Amount of the <FONT STYLE="white-space:nowrap">Class&nbsp;D(2009-1)</FONT> Notes was in the amount of
$116,120,219, resulting in an Outstanding Dollar Principal Amount of the <FONT STYLE="white-space:nowrap">Class&nbsp;D(2009-1)</FONT> Notes of $1,819,836,067. The <FONT STYLE="white-space:nowrap">Class&nbsp;D(2009-1)</FONT> Notes were sold to
purchasers in reliance upon the exemption contained in Section&nbsp;4(a)(2) of the Securities Act of 1933, as amended. The Notes were sold at par value for cash, with no applicable underwriting discounts or commissions. In connection with this
increase, the investor interest in receivables represented by the collateral certificate issued by the Discover Card Master Trust I that secures the DiscoverSeries Notes was increased by $116,120,219. Discover Card Execution Note Trust paid the net
proceeds from the issuance to Discover Bank in exchange for the increase in the investor interest in receivables represented by the collateral certificate. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Item 9.01 </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


<TR>
<TD></TD>
<TD VALIGN="bottom" WIDTH="3%"></TD>
<TD WIDTH="89%"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Exhibit&nbsp;No.</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; display:table-cell; font-size:8pt; font-family:Times New Roman; ">Description</P></TD></TR>


<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP><A HREF="d643356dex41.htm">Exhibit&nbsp;4.1<BR></A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Terms Document between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee.</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="8"></TD>
<TD HEIGHT="8" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" NOWRAP><A HREF="d643356dex42.htm">Exhibit&nbsp;4.2<BR></A></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Risk Retention Agreement among Discover Card Execution Note Trust, Discover Funding LLC and Discover Bank with respect to the DiscoverSeries <FONT STYLE="white-space:nowrap">Class&nbsp;A(2019-1)</FONT> Notes.</TD></TR>
</TABLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><U>SIGNATURES </U></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; margin-left:2%; text-indent:-2%; font-size:10pt; font-family:Times New Roman">Date: February&nbsp;4, 2019 </P><DIV ALIGN="right">
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<TD WIDTH="92%"></TD></TR>


<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discover Funding LLC</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;(as Depositor for Discover Card Master Trust I and Discover Card Execution Note Trust and as
registrant under Commission File Number 333-228025)</P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Patricia S. Hall</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Patricia S. Hall</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Vice President, Chief Financial Officer and Treasurer</TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16" COLSPAN="3"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top" COLSPAN="3"> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">Discover Bank</P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; margin-left:1.00em; text-indent:-1.00em; font-size:10pt; font-family:Times New Roman">&nbsp;&nbsp;&nbsp;&nbsp;(as registrant under Commission File Numbers 333-
<FONT STYLE="white-space:nowrap">141703-01,</FONT> <FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-167413-01</FONT></FONT> and
<FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">333-191359-01)</FONT></FONT></P></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom" STYLE=" BORDER-BOTTOM:1px solid #000000">&nbsp;</TD>
<TD VALIGN="top" STYLE="BORDER-BOTTOM:1px solid #000000">/s/ Patricia S. Hall</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Patricia S. Hall</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom">Vice President, Chief Financial Officer and Assistant Treasurer</TD></TR>
</TABLE></DIV>
</DIV></Center>

</BODY></HTML>
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[{"company-data": {"conformed-name": "Discover Card Execution Note Trust", "cik": "0001407200", "assigned-sic": "6189", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-141703-02", "film-number": "19564888"}, "business-address": {"street1": "C/O DISCOVER BANK", "street2": "12 READS WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720", "phone": "3023237434"}, "mail-address": {"street1": "C/O DISCOVER BANK", "street2": "12 READS WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720"}}, {"company-data": {"conformed-name": "DISCOVER CARD MASTER TRUST I", "cik": "0000894329", "assigned-sic": "6189", "irs-number": "510020270", "state-of-incorporation": "DE", "fiscal-year-end": "1130"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-23108", "film-number": "19564891"}, "business-address": {"street1": "C/O DISCOVER BANK", "street2": "12 READS WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720", "phone": "3023237434"}, "mail-address": {"street1": "C/O DISCOVER BANK", "street2": "12 READS WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720"}}, {"company-data": {"conformed-name": "DISCOVER BANK", "cik": "0000894327", "assigned-sic": "6189", "irs-number": "000000000", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "033-54804", "film-number": "19564890"}, "business-address": {"street1": "12 READS WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720", "phone": "3023237184"}, "mail-address": {"street1": "12 READS WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720"}, "former-company": {"former-conformed-name": "GREENWOOD TRUST CO", "date-changed": "19950508"}}, {"company-data": {"conformed-name": "Discover Funding LLC", "cik": "0001645731", "assigned-sic": "6189", "irs-number": "474047337", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-205455", "film-number": "19564889"}, "business-address": {"street1": "12 READ'S WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720", "phone": "303-323-7626"}, "mail-address": {"street1": "12 READ'S WAY", "city": "NEW CASTLE", "state": "DE", "zip": "19720"}}]
8-K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 1, 2019
Commission File Number:
Commission File Number:
Commission File Number:
Commission File Number:
333-141703-02;
333-167413;
333-191359;
333-205455-01;
333-228025-02
333-141703;
333-167413-02;
333-191359-02;
333-205455-02;
333-228025-01;
000-23108
333-205455;
333-228025
333-141703-01;
333-167413-01;
333-191359-01;
033-54804
DISCOVER CARD EXECUTION NOTE
TRUST
DISCOVER CARD
MASTER TRUST I
DISCOVER FUNDING
LLC
DISCOVER BANK
(Exact name of issuing
entity in respect of the notes
as specified in charter)
(Exact name of issuing
entity in respect of the
Series
2007-CC
Collateral Certificate)
(Exact name of depositor
as specified in charter)
(Exact name of sponsor as
specified in charter)
Delaware
Delaware
Delaware
Delaware
(State or jurisdiction of
incorporation or organization
of the issuing entity)
(State or jurisdiction of
incorporation or organization
of the issuing entity)
(State or jurisdiction of
incorporation or organization
of the depositor)
(State or jurisdiction of
incorporation or organization
of the sponsor)
c/o Wilmington Trust
Company
Rodney Square
North
1100 North Market Street Wilmington, Delaware
19890-0001
c/o Discover Bank
12 Read's Way
New
Castle, Delaware
19720
Discover Funding LLC
12 Read's Way
New
Castle, Delaware
19720
Discover Bank
12 Read's Way
New
Castle, Delaware
19720
(Address of principal
executive offices of the
issuing entity)
(Address of principal
executive offices of the
issuing entity)
(Address of principal
executive offices of the
depositor)
(Address of principal
executive offices of the
sponsor)
51-0020270
(IRS Employer Identification No. of
the sponsor and depositor)
47-4047337
(IRS Employer Identification No. of
the depositor)
(302)
323-7315
(Telephone, including area code)
Former name or former address, if changed since last report: Not Applicable
Check the appropriate box below if the Form
8-K
filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule
14a-12
under the Exchange Act (17
CFR
240.14a-12)
☐
Pre-commencement
communications pursuant to Rule
14d-2(b)
under the Exchange Act (17 CFR
240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule
13e-4(c)
under the Exchange Act (17 CFR
240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this
chapter) or Rule
12b-2
of the Securities Exchange Act of 1934
(§240.12b-2
of this chapter).
Emerging growth company  ☐
If an emerging
growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange
Act.  ☐
Item 1.01
Entry Into a Material Definitive Agreement
On February 1, 2019, Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee, entered into
the
Class A(2019-1)
Terms Document. A copy of the
Class A(2019-1)
Terms Document is filed as
Exhibit 4.1
to this Current Report on Form
8-K
and is incorporated herein by reference.
On February 1, 2019, Discover Card Execution Note
Trust, Discover Funding LLC and Discover Bank entered into a Risk Retention Agreement with respect to the DiscoverSeries
Class A(2019-1)
Notes (the "
Class
A(2019-1)
Risk Retention Agreement
"). A copy of the
Class A(2019-1)
Risk Retention Agreement is filed as
Exhibit 4.2
to this Current Report on Form
8-K
and is incorporated herein by reference.
Item 8.01
Other Events
Issuance of Class
A(2019-1)
Notes
. On February 1, 2019, Discover Card
Execution Note Trust issued $1,250,000,000 principal amount of DiscoverSeries
Class A(2019-1)
Notes pursuant to the Amended and Restated Indenture, dated as of December 22, 2015, as supplemented by
the Second Amended and Restated Indenture Supplement, dated as of December 22, 2015, each between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association as Indenture Trustee, and the
Class A(2019-1)
Terms Document, dated as of February 1, 2019, between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee.
Use of Proceeds — Class
A(2019-1)
Notes
. The public offering of
DiscoverSeries
Class A(2019-1)
Notes was made under the registration statement on Form
SF-3
(File Nos.
333-228025,
333-228025-01,
333-228025-02)
filed with the Securities and Exchange Commission on
October 26, 2018 and declared effective on November 15, 2018 (the "
Registration Statement
").
The public
offering of the DiscoverSeries
Class A(2019-1)
Notes was terminated on February 1, 2019 upon the sale of all of the DiscoverSeries
Class A(2019-1)
Notes.
The underwriters of the DiscoverSeries
Class A(2019-1)
Notes were Barclays Capital Inc., Citigroup Global Markets Inc. Deutsche Bank Securities Inc., Merrill Lynch, Pierce, Fenner & Smith
Incorporated, MUFG Securities Americas Inc., RBC Capital Markets, LLC and SG Americas Securities, LLC. The price to the public of the DiscoverSeries
Class A(2019-1)
Notes was $1,249,973,500 (or
99.99788%).
During the period from the effective date of the Registration Statement through the current reporting period, the amount of
expenses incurred in connection with the issuance and distribution of the DiscoverSeries
Class A(2019-1)
Notes with respect to underwriting commissions and discounts was $3,125,000. After deducting the
underwriting commission and discount described in the preceding sentence, the net offering proceeds of Discover Card Execution Note Trust before expenses for the DiscoverSeries
Class A(2019-1)
Notes are
$1,246,848,500. Other expenses, including legal fees and other costs and expenses, are reasonably estimated to be $780,000 and net proceeds of Discover Card Execution Note Trust, after deduction of expenses, are reasonably estimated to be
$1,246,068,500 total proceeds. With respect to the payment of these other expenses and costs, all direct or indirect payments were made to persons other than persons who are (a) directors or officers of Discover Card Execution Note Trust or
(b) owners of 10 percent or more of any class of securities of Discover Card Execution Note Trust.
The net proceeds of Discover
Card Execution Note Trust, after deducting the underwriting commissions and discounts, and expenses above, were paid to Discover Bank in exchange for an increase in the investor interest in receivables represented by the collateral certificate.
Discover Bank will add those proceeds to its general funds. Except as provided in the previous sentence, none of the proceeds were used for payments to (a) directors or officers of Discover Card Execution Note Trust or (b) owners of
10 percent or more of any class of securities of Discover Card Execution Note Trust.
Increase in Principal Amount of
Class
D(2009-1)
Notes
. On February 1, 2019, Discover Bank, pursuant to Section 2.03 of the Amended and Restated Note Purchase Agreement (the "
Note Purchase
Agreement
"), dated as of January 1, 2016, among Discover Card Execution Note Trust, as Issuer, Discover Bank, as Sponsor, Discover Funding LLC, as Transferor, and the purchasers named therein and Section 2.06 of the
Class D(2009-1)
Terms Document, dated as of July 2, 2009, by and between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee, increased the Outstanding
Dollar Principal Amount of the
Class D(2009-1)
Notes. The increase in the Outstanding Dollar Principal Amount of the
Class D(2009-1)
Notes was in the amount of
$116,120,219, resulting in an Outstanding Dollar Principal Amount of the
Class D(2009-1)
Notes of $1,819,836,067. The
Class D(2009-1)
Notes were sold to
purchasers in reliance upon the exemption contained in Section 4(a)(2) of the Securities Act of 1933, as amended. The Notes were sold at par value for cash, with no applicable underwriting discounts or commissions. In connection with this
increase, the investor interest in receivables represented by the collateral certificate issued by the Discover Card Master Trust I that secures the DiscoverSeries Notes was increased by $116,120,219. Discover Card Execution Note Trust paid the net
proceeds from the issuance to Discover Bank in exchange for the increase in the investor interest in receivables represented by the collateral certificate.
Item 9.01
Exhibit No.
Description
Exhibit 4.1
Class A(2019-1)
Terms Document between Discover Card Execution Note Trust, as Issuer, and U.S. Bank National Association, as Indenture Trustee.
Exhibit 4.2
Risk Retention Agreement among Discover Card Execution Note Trust, Discover Funding LLC and Discover Bank with respect to the DiscoverSeries
Class A(2019-1)
Notes.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
Date: February 4, 2019
Discover Funding LLC
(as Depositor for Discover Card Master Trust I and Discover Card Execution Note Trust and as
registrant under Commission File Number 333-228025)
By:
/s/ Patricia S. Hall
Patricia S. Hall
Vice President, Chief Financial Officer and Treasurer
Discover Bank
(as registrant under Commission File Numbers 333-
141703-01,
333-167413-01
and
333-191359-01)
By:
/s/ Patricia S. Hall
Patricia S. Hall
Vice President, Chief Financial Officer and Assistant Treasurer