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): December 22, 2015

51-0020270

(IRS Employer Identification No. of the sponsor)

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:

On December 22, 2015, Discover Bank and Discover Funding LLC entered into the Receivables Sale and Contribution Agreement. A copy of the Receivables Sale and Contribution Agreement is filed as Exhibit 4.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Receivables Sale and Contribution Agreement will become effective upon satisfaction of the conditions set forth therein.

On December 22, 2015, U.S. Bank National Association, as trustee (the “Master Trust Trustee”), Discover Funding LLC and Discover Bank entered into the Third Amended and Restated Pooling and Servicing Agreement. A copy of the Third Amended and Restated Pooling and Servicing Agreement is filed as Exhibit 4.2 to this Current Report on Form 8-K and is incorporated herein by reference. The Third Amended and Restated Pooling and Servicing Agreement will become effective upon satisfaction of the conditions set forth therein.

On December 22, 2015, the Master Trust Trustee, Discover Funding LLC and Discover Bank entered into the Amended and Restated Series Supplement. A copy of the Amended and Restated Series Supplement is filed as Exhibit 4.3 to this Current Report on Form 8-K and is incorporated herein by reference. The Amended and Restated Series Supplement will become effective upon satisfaction of the conditions set forth therein.

On December 22, 2015, Discover Card Execution Note Trust (the “Note Issuance Trust”), as Issuer, and U.S. Bank National Association, as Indenture Trustee (the “Indenture Trustee”), entered into the Amended and Restated Indenture. A copy of the Amended and Restated Indenture is filed as Exhibit 4.4 to this Current Report on Form 8-K and is incorporated herein by reference. The Amended and Restated Indenture will become effective upon satisfaction of the conditions set forth therein.

On December 22, 2015, the Note Issuance Trust, as Issuer, and the Indenture Trustee entered into the Second Amended and Restated Indenture Supplement. A copy of the Second Amended and Restated Indenture Supplement is filed as Exhibit 4.5 to this Current Report on Form 8-K and is incorporated herein by reference. The Second Amended and Restated Indenture Supplement will become effective upon satisfaction of the conditions set forth therein.

On December 22, 2015, Wilmington Trust Company, as owner trustee, and Discover Funding LLC, as beneficiary, entered into the Amended and Restated Trust Agreement. A copy of the Amended and Restated Trust Agreement is filed as Exhibit 4.6 to this Current Report on Form 8-K and is incorporated herein by reference. The Amended and Restated Trust Agreement will become effective upon satisfaction of the conditions set forth therein.

The Receivables Sale and Contribution Agreement, the Third Amended and Restated Pooling and Servicing Agreement, the Amended and Restated Indenture, the Second Amended and Restated Indenture Supplement and the Amended and Restated Trust Agreement (collectively, the “Transaction Documents”) have the effect of consolidating certain previous amendments, correcting or clarifying inconsistencies or errors and providing for the substitution of Discover Bank with Discover Funding LLC as depositor and beneficiary of the Note Issuance Trust (the “Assignment”). The Transactions Documents will be effective as of January 1, 2016 or an earlier date to be specified by Discover Bank. To reflect the Assignment, on December 22, 2015, Discover Bank, Discover Funding LLC and the Note Issuance Trust also entered into amendments and restatements of note purchase agreements with respect to the privately issued DiscoverSeries 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.

INDEX TO EXHIBITS