The sale is limited to Subway MyWay Rewards members only and you'll have to sign up before the Passes go on sale to have a chance at getting one. The Passes will go on sale at SubwayFootlongPass.com.
According to the terms, the Passes work by sending pass holders a daily code that can be used when ordering online through the Subway website or app. The code refreshes each day (which also means you can only use the discount once a day). Additionally, if you happen to live in Iowa, the pass is not valid there (and anywhere else such passes are restricted by law according to the fine print).
Prices for Subway Footlongs vary with location but, in my area, they range from about $9 to $11 so you'd roughly have to buy three Footlongs in the month of September to break even from buying the $15 Pass. If you happen to be a Subway regular who eats there daily, you'll save quite a bit if you manage to get a Pass.
Photo via Subway.
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