| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Moody's |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 533.3 | 24.7% | 72.8% | 3.83% fxd | 0.28 | 2027-05-17 | A-1+ | P-1 |
| Class A-2a | 601.8 | 27.9% | 44.9% | 4.11% fxd | 1.07 | 2028-12-15 | AAA | Aaa |
| Class A-2b | 131.6 | 6.1% | 38.8% | +38 bps SOFR | 1.07 | 2028-12-15 | AAA | Aaa |
| Class A-3 | 733.3 | 34.0% | 4.9% | 4.30% fxd | 2.36 | 2030-11-15 | AAA | Aaa |
| Class A-4 | 105.2 | 4.9% | 0.0% | 4.33% fxd | 3.17 | 2032-08-16 | AAA | Aaa |
| Sponsor | American Honda Finance Corporation |
|---|---|
| Servicer | American Honda Finance Corporation |
| Depositor / Transferor | American Honda Finance Corporation |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| 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, Mizuho Securities, SMBC Nikko Securities |
| HAROT 2026-2 | HAROT 2026-1 | HAROT 2025-4 | HAROT 2025-3 | HAROT 2025-2 | HAROT 2025-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-05-13 | 2026-02-18 | 2025-11-12 | 2025-08-12 | 2025-05-08 | 2025-02-11 |
| Pool balance | $2,159.3MM | $2,483.1MM | $2,483.2MM | $2,483.1MM | $2,483.1MM | $2,429.2MM |
| WA Credit Score | 768−1 | 770 | 769 | 769 | 769 | 768 |
| WA APR | 4.99%+0.03pp | 5.00% | 4.93% | 4.97% | 4.89% | 4.96% |
| WA original term mo | 61.9+0.0 | 61.6 mo | 61.9 mo | 61.9 mo | 62.1 mo | 61.7 mo |
| % new vehicles | 86.1% | 86.5% | 86.0% | 86.0% | 86.1% | 86.2% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | CA 15.3% TX 9.9% NY 6.2% | CA 16.0% TX 9.5% NY 6.7% | CA 16.9% TX 9.9% FL 6.5% | CA 16.3% TX 9.8% PA 7.6% | CA 16.9% TX 9.9% FL 6.2% | CA 16.5% NY 7.3% TX 7.3% |
| Structure (at issuance) | ||||||
| AAA spread | +38 bps0bps | +34 bps | +38 bps | +35 bps | +48 bps | +40 bps |
| AAA % of pool | 72.8%−0.0pp | 73.1% | 74.5% | 72.5% | 72.8% | 72.8% |
| Subordination below AAA | 0.0%0.0pp | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| OC (initial) | — | — | — | — | — | — |
| OC target | — | — | — | — | — | — |
| OC floor | — | — | — | — | — | — |
| YSOC | 5.10% | 4.09% | 4.76% | 4.77% | 5.43% | 5.71% |
| Tranches | 5 | 5 | 5 | 5 | 5 | 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 2026-2 | WOART 2026-B | TAOT 2026-B | GMCAR 2026-2 | FCAOT 2026-A | HART 2026-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-05-13 | 2026-05-13 | 2026-04-21 | 2026-04-15 | 2026-03-24 | 2026-02-18 |
| Pool balance | $2,159.3MM | $1,406.0MM | $2,000.6MM | $1,335.0MM | $1,489.0MM | $2,392.4MM |
| WA Credit Score | 768−2 | 759 | 770 | 777 | 754 | 775 |
| WA APR | 4.99%−0.58pp | 5.79% | 5.57% | 6.11% | 4.84% | 5.38% |
| WA original term mo | 61.9−5.3 | 68.6 mo | 66.0 mo | 70.0 mo | 65.8 mo | 67.2 mo |
| % new vehicles | 86.1% | 98.1% | 87.6% | 80.8% | 93.8% | 97.5% |
| Reserve % | 0.25% | 0.23% | 0.25% | 0.25% | 0.18% | 0.25% |
| Geo top-3 | CA 15.3% TX 9.9% NY 6.2% | FL 45.9% GA 18.6% NC 15.2% | CA 24.1% TX 16.1% AZ 3.6% | TX 14.2% FL 7.1% CA 6.7% | TX 16.5% FL 8.6% CA 8.5% | TX 13.2% FL 10.1% CA 9.1% |
| Structure (at issuance) | ||||||
| AAA spread | +38 bps0bps | +38 bps | +38 bps | +40 bps | +43 bps | +34 bps |
| AAA % of pool | 72.8%+2.1pp | 70.3% | 72.6% | 75.7% | 70.7% | 69.0% |
| Subordination below AAA | 0.0%−4.2pp | 4.2% | 2.4% | 3.0% | 4.8% | 4.5% |
| OC (initial) | — | — | 0.85% | 2.75% | 2.00% | 3.00% |
| OC target | — | 0.90% | 0.85% | 2.75% | 2.00% | 3.00% |
| OC floor | — | 0.50% | 0.85% | 2.75% | 2.00% | 3.00% |
| YSOC | 5.10% | 6.38% | 5.03% | 2.19% | 4.56% | 5.70% |
| Tranches | 5 | 7 | 6 | 7 | 7 | 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 (197 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.