| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 517.0 | 23.9% | 73.6% | 5.52% fxd | 0.25 | 2025-02-18 | A-1+ | P-1 |
| Class A-2 | 688.8 | 31.9% | 41.7% | 5.36% fxd | 1.01 | 2026-09-15 | AAA | Aaa |
| Class A-3 | 767.8 | 35.6% | 6.1% | 5.21% fxd | 2.31 | 2028-08-15 | AAA | Aaa |
| Class A-4 | 131.7 | 6.1% | 0.0% | 5.17% fxd | 3.23 | 2030-05-15 | AAA | Aaa |
| Sponsor | American Honda Finance Corporation |
|---|---|
| Servicer | American Honda Finance Corporation |
| Depositor / Transferor | American Honda Finance Corporation |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | The Bank of New York Mellon Trust Company, N.A |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Barclays Capital, BofA Securities, Deutsche Bank Securities, TD Securities, MUFG Securities Americas, Citigroup Global Markets |
| HAROT 2024-1 | HAROT 2023-4 | HAROT 2023-3 | HAROT 2023-2 | HAROT 2023-1 | HAROT 2022-2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-02-21 | 2023-11-08 | 2023-08-22 | 2023-05-30 | 2023-02-24 | 2022-08-18 |
| Pool balance | $2,159.2MM | $1,889.3MM | $1,889.4MM | $1,619.5MM | $1,619.4MM | $1,079.6MM |
| WA Credit Score | 7680 | 768 | 769 | 766 | 766 | 769 |
| WA APR | 4.59%+0.82pp | 4.36% | 4.00% | 3.77% | 3.06% | 2.55% |
| WA original term mo | 62.2−0.2 | 62.3 mo | 61.6 mo | 63.2 mo | 62.6 mo | 62.1 mo |
| % new vehicles | 86.1% | 86.1% | 85.7% | 88.9% | 91.6% | 90.4% |
| Reserve % | 0.25% | 0.18% | 0.19% | 0.21% | 0.21% | 0.25% |
| Geo top-3 | NJ 4.9% MA 4.9% CA 4.8% | CA 19.1% TX 9.7% OH 5.4% | CA 17.3% TX 9.9% PA 7.4% | CA 18.0% TX 9.9% OH 6.3% | CA 17.6% IL 6.5% TX 6.2% | CA 17.4% TX 8.6% PA 6.4% |
| Structure (at issuance) | ||||||
| AAA spread | — | +59 bps | +46 bps | +55 bps | +35 bps | — |
| AAA % of pool | 73.6%−1.3pp | 72.9% | 75.8% | 74.6% | 75.2% | — |
| Subordination below AAA | 0.0%0.0pp | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| OC (initial) | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% |
| OC target | — | — | — | — | — | — |
| OC floor | — | — | — | — | — | — |
| YSOC | — | — | — | — | — | — |
| Tranches | 4 | 4 | 4 | 4 | 4 | 4 |
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.
| HAROT 2024-1 | WOART 2024-A | TAOT 2024-A | MBART 2024-1 | VALET 2023-2 | FCAOT 2023-C | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-02-21 | 2024-02-14 | 2024-01-30 | 2024-01-24 | 2023-11-21 | 2023-11-21 |
| Pool balance | $2,159.2MM | $1,343.7MM | $1,908.5MM | — | $1,418.8MM | $1,443.4MM |
| WA Credit Score | 768+11 | 757 | 767 | 754 | 774 | 753 |
| WA APR | 4.59%−1.10pp | 6.54% | 5.37% | 7.74% | 5.69% | 4.92% |
| WA original term mo | 62.2−4.6 | 67.6 mo | 66.0 mo | 69.6 mo | — | 63.6 mo |
| % new vehicles | 86.1% | 95.6% | 84.2% | 40.3% | 73.4% | 91.2% |
| Reserve % | 0.25% | 0.23% | 0.25% | — | 0.23% | 0.23% |
| Geo top-3 | NJ 4.9% MA 4.9% CA 4.8% | FL 47.9% GA 18.3% NC 15.8% | CA 23.9% TX 15.3% IL 4.6% | CA 21.6% FL 15.3% TX 14.3% | TX 14.8% CA 13.6% FL 9.6% | TX 16.0% CA 9.6% FL 8.4% |
| Structure (at issuance) | ||||||
| AAA spread | — | +34 bps | +37 bps | +66 bps | +64 bps | +55 bps |
| AAA % of pool | 73.6%+2.7pp | 71.2% | 71.3% | 42.3% | 70.8% | 68.2% |
| Subordination below AAA | 0.0%−1.8pp | 4.1% | 1.8% | 0.0% | 0.0% | 4.6% |
| OC (initial) | 2.50% | — | 0.85% | 2.50% | 3.00% | 2.00% |
| OC target | — | 1.15% | 0.85% | 2.50% | — | 2.00% |
| OC floor | — | 0.50% | 0.85% | 2.50% | — | 2.00% |
| YSOC | — | 6.75% | 6.40% | — | 9.17% | 7.07% |
| Tranches | 4 | 7 | 6 | 5 | 5 | 7 |
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 (146 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.
American Honda Finance Corporation — ticker HAROT.
Peer tier: prime.
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FICO sub-band and new/used stratification.