| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 396.0 | 24.5% | 2.75% | — | — | — | 2027-11-22 | P-1 | F1+ |
| Class A-2a | 274.7 | 17.0% | 2.75% | — | — | — | 2029-06-21 | Aaa | AAA |
| Class A-2b | 274.7 | 17.0% | 2.75% | — | floating | — | 2029-06-21 | Aaa | AAA |
| Class A-3 | 549.4 | 33.9% | 2.75% | — | — | — | 2031-05-21 | Aaa | AAA |
| Class A-4 | 84.2 | 5.2% | 2.75% | — | — | — | 2033-04-21 | 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 | American Honda Finance Corporation |
|---|---|
| Servicer | American Honda Finance Corporation |
| Depositor / Transferor | American Honda Receivables LLC |
| 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 | J.P. Morgan Securities, Deutsche Bank Securities, TD Securities, MUFG Securities Americas |
| HAROT 2026-4 | HAROT 2026-3 | HAROT 2026-2 | HAROT 2026-1 | HAROT 2025-4 | HAROT 2025-3 | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-11-21 | 2026-08-12 | 2026-05-13 | 2026-02-18 | 2025-11-12 | 2025-08-12 | 424B5 |
| Pool balance | $1,619.4MM | $2,159.3MM | $2,159.3MM | $2,483.1MM | $2,483.2MM | $2,483.1MM | 424B5 |
| WA Credit Score | 772+3 | 770 | 768 | 770 | 769 | 769 | 424B5 |
| WA APR | 4.81%−0.16pp | 4.94% | 4.99% | 5.00% | 4.93% | 4.97% | 424B5 |
| WA original term mo | 61.6−0.3 | 62.7 mo | 61.9 mo | 61.6 mo | 61.9 mo | 61.9 mo | 424B5 |
| % new vehicles | 86.0% | 86.1% | 86.1% | 86.5% | 86.0% | 86.0% | 424B5 |
| Geo top-3 | CA 14.5% TX 13.7% FL 5.7% | CA 16.1% TX 10.0% NY 5.8% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 2.75%0.00pp | 2.75% | 2.75% | 2.75% | 2.75% | 2.75% | calc |
| Enhancement, target | — | — | — | — | — | — | calc |
| Subordinate notes | 0.0%0.0pp | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | calc |
| OC (initial) | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 424B5 |
| OC target | — | — | — | — | — | — | 424B5 |
| OC floor | — | — | — | — | — | — | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | n.a. | n.a. | n.a. | n.a. | n.a. | 424B5 |
| Pricing | |||||||
| AAA spread | — | +36 bps A-3 · 2.4y | +39 bps A-3 · 2.4y | +34 bps A-3 · 2.4y | +39 bps A-3 · 2.3y | +37 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 5 | 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.
| HAROT 2026-4 | HART 2026-D | TAOT 2026-D | GMCAR 2026-4 | NAROT 2026-B | FCAOT 2026-C | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-11-21 | — | 2026-10-15 | 2026-10-14 | 2026-09-30 | 2026-09-28 | 424B5 |
| Pool balance | $1,619.4MM | $1,706.5MM | $2,049.2MM | $1,073.3MM | $1,440.0MM | $1,663.6MM | 424B5 |
| WA Credit Score | 772−1 | 775 | 772 | 773 | 784 | 753 | 424B5 |
| WA APR | 4.81%−0.27pp | 4.22% | 5.08% | 6.95% | 4.03% | 5.13% | 424B5 |
| WA original term mo | 61.6−4.5 | 66.4 mo | 65.7 mo | 13.0 mo | — | 66.5 mo | 424B5 |
| % new vehicles | 86.0% | 100.0% | 87.4% | 80.8% | 4.5% | 92.9% | 424B5 |
| Geo top-3 | CA 14.5% TX 13.7% FL 5.7% | TX 12.4% FL 9.4% CA 8.9% | CA 24.2% TX 15.9% IL 3.6% | TX 14.5% CA 7.0% FL 6.7% | FL 7.5% CA 6.4% GA 4.0% | TX 17.7% FL 8.9% CA 8.6% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 2.75%−2.50pp | 7.55% | 2.75% | 6.10% | 4.25% | 5.25% | calc |
| Enhancement, target | — | 8.05% | 3.60% | 6.10% | 4.25% | 7.25% | calc |
| Subordinate notes | 0.0%−3.1pp | 4.8% | 2.5% | 3.1% | 3.0% | 5.0% | calc |
| OC (initial) | 2.50% | 2.50% | 0.00% | 2.75% | 1.00% | 0.00% | 424B5 |
| OC target | — | 3.00% | 0.85% | 2.75% | 1.00% | 2.00% | 424B5 |
| OC floor | — | 3.00% | 0.85% | 2.75% | 1.00% | 2.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | n.a. | 9.85% | 7.28% | 2.68% | 9.81% | 5.09% | 424B5 |
| Pricing | |||||||
| AAA spread | — | — | +46 bps A-3 · 2.5y | +47 bps A-3 · 2.4y | +38 bps A-3 · 2.3y | +37 bps A-3 · 2.3y | FWP |
| Terms | |||||||
| Tranches | 5 | 7 | 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 (209 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.