DALLAS - First USA Inc. priced a $1 billion securitization of credit card receivables in connection with First USA Credit Card Master Trust. It consists of a $1 billion series of floating rate asset backed certificates with a three-year average life, two classes of publicly traded securities, and a collateral invested amount.

The transaction, scheduled to close May 16, 1995, is being underwritten by J.P. Morgan Securities Inc.

First USA had $12 billion in outstandings and more than 9.5 million cards issued as of March 31.

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