NEW YORK — Barclays Capital will sell $1 billion in credit card asset-backed securities on Friday in the biggest such dollar-denominated deal from its Gracechurch bond issuing program since 2005, according to a person close the deal.

Barclays is tapping an ABS market that has been a rare spot of stability as the European fiscal and banking crises and concern of a global recession rock other assets. Credit card issues have been few, with the sector dominated by automobile-related financing.

The Gracechurch $1 billion ABS is expected to price on Friday at a yield equivalent to 55 basis points over 1-month Libor. The deal is being sold in the 144a private market.

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