| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 385.0 | 20.3% | 2.75% | 0.25 | 3.94% | +14 I-curve | 2027-08-25 | A-1+ | F1+ |
| Class A-2a | 452.1 | 23.9% | 2.75% | 1.01 | 4.28% | +30 I-curve | 2029-06-25 | AAA | AAA |
| Class A-2b | 175.0 | 9.2% | 2.75% | 1.01 | floating | +30 SOFR | 2029-06-25 | AAA | AAA |
| Class A-3 | 627.1 | 33.1% | 2.75% | 2.35 | 4.59% | +39 I-curve | 2031-04-25 | AAA | AAA |
| Class A-4 | 110.8 | 5.8% | 2.75% | 3.65 | 4.68% | +40 I-curve | 2034-01-25 | AAA | AAA |
Enhancement: subordinate notes, overcollateralization and reserve beneath the class, as a share of the pool net of any yield supplement (the adjusted pool, as the issuers and rating agencies measure it); the Class A notes share losses pari passu, so each carries the same figure. Spread: basis points over the benchmark named beside it, from the pricing term sheet — the interpolated curve for fixed-rate classes, 30-day average SOFR for floaters; the two are not comparable. A class marked retained was kept by the depositor, as the prospectus states.
| Sponsor | BMW Financial Services NA, LLC |
|---|---|
| Servicer | BMW Financial Services NA, LLC |
| Depositor / Transferor | BMW FS Securities LLC |
| Indenture Trustee | Wilmington Trust, National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, Citigroup Global Markets, Mizuho Securities, SMBC Nikko Securities |
| BMWOT 2026-A | BMWOT 2025-A | BMWOT 2024-A | BMWOT 2023-A | BMWOT 2022-A | Source | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-08-19 | 2025-02-12 | 2024-06-11 | 2023-07-18 | 2022-05-18 | 424B5 |
| Pool balance | $1,895.5MM | $1,897.4MM | $1,910.0MM | $1,670.1MM | $1,652.9MM | 424B5 |
| WA Credit Score | 7880 | 790 | 789 | 787 | 788 | 424B5 |
| WA APR | 5.36%+0.50pp | 5.41% | 5.35% | 4.37% | 2.81% | 424B5 |
| WA original term mo | 65.1+1.6 | 65.1 mo | 63.6 mo | 63.2 mo | 63.2 mo | 424B5 |
| % new vehicles | 70.5% | 70.5% | 68.2% | 60.1% | 60.1% | 424B5 |
| Geo top-3 | CA 15.9% TX 13.2% FL 10.9% | CA 14.6% TX 14.6% FL 11.6% | CA 16.7% TX 13.2% FL 11.0% | CA 18.2% TX 12.3% FL 10.5% | CA 17.2% TX 10.4% FL 8.9% | 424B5 |
| Enhancement beneath the AAA term notes | ||||||
| Enhancement, initial | 2.75%0.00pp | 2.75% | 2.75% | 2.75% | 2.75% | calc |
| Enhancement, target | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | calc |
| Subordinate notes | 0.0%0.0pp | 0.0% | 0.0% | 0.0% | 0.0% | calc |
| OC (initial) | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 424B5 |
| OC target | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 424B5 |
| OC floor | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 5.31% | 5.40% | 6.03% | 7.88% | 6.93% | 424B5 |
| Pricing | ||||||
| AAA spread | +39 bps−16bps A-3 · 2.4y | +38 bps A-3 · 2.3y | +54 bps A-3 · 2.3y | +76 bps A-3 · 2.3y | +57 bps A-3 · 2.2y | FWP |
| Terms | ||||||
| Tranches | 5 | 5 | 5 | 5 | 5 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
| BMWOT 2026-A | HAROT 2026-3 | TAOT 2026-C | GMCAR 2026-3 | FCAOT 2026-B | HART 2026-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-08-19 | 2026-08-12 | 2026-07-21 | 2026-07-15 | 2026-06-23 | 2026-06-17 | 424B5 |
| Pool balance | $1,895.5MM | $2,159.3MM | $2,023.1MM | $1,078.8MM | $1,655.3MM | $2,408.5MM | 424B5 |
| WA Credit Score | 788+17 | 770 | 771 | 781 | 752 | 774 | 424B5 |
| WA APR | 5.36%+0.19pp | 4.94% | 5.36% | 6.63% | 5.07% | 5.17% | 424B5 |
| WA original term mo | 65.1−0.9 | 62.7 mo | 66.0 mo | 70.0 mo | 66.4 mo | 65.8 mo | 424B5 |
| % new vehicles | 70.5% | 86.1% | 87.5% | 80.8% | 92.6% | 99.8% | 424B5 |
| Geo top-3 | CA 15.9% TX 13.2% FL 10.9% | CA 16.1% TX 10.0% NY 5.8% | CA 24.2% TX 16.3% IL 3.9% | TX 14.4% FL 6.8% CA 6.7% | TX 17.3% CA 8.7% FL 8.5% | TX 13.0% FL 9.9% CA 8.5% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 2.75%−2.50pp | 2.75% | 2.75% | 6.10% | 5.25% | 7.55% | calc |
| Enhancement, target | 2.75% | — | 3.60% | 6.10% | 7.25% | 8.05% | calc |
| Subordinate notes | 0.0%−3.1pp | 0.0% | 2.5% | 3.1% | 5.0% | 4.8% | calc |
| OC (initial) | 2.50% | 2.50% | 0.00% | 2.75% | 0.00% | 2.50% | 424B5 |
| OC target | 2.50% | — | 0.85% | 2.75% | 2.00% | 3.00% | 424B5 |
| OC floor | 2.50% | — | 0.85% | 2.75% | 2.00% | 3.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 5.31% | n.a. | 6.08% | 3.18% | 4.61% | 6.86% | 424B5 |
| Pricing | |||||||
| AAA spread | +39 bps+3bps A-3 · 2.4y | +36 bps A-3 · 2.4y | +35 bps A-3 · 2.5y | +31 bps A-3 · 2.4y | +36 bps A-3 · 2.4y | +41 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 5 | 5 | 6 | 7 | 7 | 7 | FWP |
Enhancement: subordinate notes, overcollateralization and the reserve account as a share of the cutoff-date pool — the losses the pool can absorb before the AAA term notes are touched. AAA spread: the pricing spread over the interpolated curve for the fixed-rate AAA class whose weighted-average life is nearest two years, with that class and its WAL shown; floating-rate classes are never used. Source: 424B5 = final prospectus, FWP = pricing term sheet, calc = derived from the above. Deltas are against the peer median; green means more protection, or a cheaper price for it, for the noteholder.
OC shown net of any yield-supplement overcollateralization (YSOC); YSOC is a yield mechanism for subvented low-APR pools and is reported separately. OC target is a % of the pool balance — current (amortizing) for greater-of/sum-of structures, original (cut-off) for flat structures; OC floor is a % of the original pool balance.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
Left: per-series cumulative NET loss at matched seasoning 10-D (10-D servicer distribution reports). IQR band uses a fixed cohort of all peer series with ≥18 months of data (233 series across 9 issuers). Right: portfolio-level 60+ DQ rate aggregated across all active deals per issuer (calendar time, last 3 years), from ABS-EE loan-level data ABS-EE.
BMW Financial Services NA, LLC — ticker BMWOT.
Peer tier: prime.
Open the performance page ↗ for
FICO sub-band and new/used stratification.