| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 303.0 | 16.7% | 74.1% | +13 bps | 0.21 | 2025-03-17 | A-1+ | F1+ |
| Class A-2a | 307.4 | 17.0% | 57.2% | +42 bps | 1.04 | 2027-04-15 | AAA | AAA |
| Class A-2b | 307.4 | 17.0% | 40.2% | +42 bps SOFR | 1.04 | 2027-04-15 | AAA | AAA |
| Class A-3 | 575.2 | 31.7% | 8.5% | +63 bps | 2.46 | 2029-02-15 | AAA | AAA |
| Class A-4 | 72.9 | 4.0% | 4.5% | +74 bps | 3.63 | 2031-01-15 | AAA | AAA |
| Class B | 30.4 | 1.7% | 2.8% | +100 bps | 3.92 | 2031-01-15 | AA+ | AA+ |
| Class C | 50.7 | 2.8% | 0.0% | +115 bps | 4.13 | 2031-07-15 | AA | A+ |
| Sponsor | Hyundai Capital America |
|---|---|
| Servicer | HCA Responsibilities in Securitization Program |
| Depositor / Transferor | Hyundai Capital America |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | U.S. Bank Trust National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, Barclays Capital, BNP Paribas Securities, Lloyds Securities, Mizuho Securities |
| HART 2024-A | HART 2023-C | HART 2023-B | HART 2023-A | HART 2022-C | HART 2022-B | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-03-20 | 2023-11-13 | 2023-07-19 | 2023-04-12 | 2022-11-09 | 2022-07-20 |
| Pool balance | $1,812.8MM | $1,822.5MM | $1,865.3MM | $1,829.8MM | $1,706.7MM | $1,537.1MM |
| WA Credit Score | 766−1 | 768 | 767 | 767 | 764 | 764 |
| WA APR | 5.70%+1.85pp | 5.62% | 4.96% | 3.72% | 3.85% | 3.29% |
| WA original term mo | 66.6+0.4 | 65.6 mo | 66.2 mo | 66.6 mo | 66.2 mo | 66.0 mo |
| % new vehicles | 95.8% | 94.3% | 94.0% | 95.6% | 94.9% | 95.0% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.50% | 0.50% |
| Geo top-3 | TX 12.9% FL 11.5% CA 6.4% | TX 12.0% FL 11.7% CA 10.9% | CA 12.5% TX 12.4% FL 11.3% | FL 12.0% CA 11.9% TX 11.4% | CA 14.2% TX 12.2% FL 6.0% | CA 12.2% TX 11.5% FL 10.0% |
| Structure (at issuance) | ||||||
| AAA spread | +42 bps−25bps | +63 bps | — | — | — | +71 bps |
| AAA % of pool | 69.7%+4.2pp | 68.9% | 58.9% | — | — | 65.5% |
| Subordination below AAA | 4.5%+0.1pp | 4.4% | 4.4% | 4.3% | — | 4.4% |
| OC (initial) | 3.00% | 3.00% | 3.00% | 3.00% | 2.75% | 2.75% |
| OC target | 3.00% | 3.00% | 3.00% | 3.00% | 2.75% | 2.75% |
| OC floor | 3.00% | 3.00% | 3.00% | 3.00% | 2.75% | 2.75% |
| YSOC | 5.15% | 6.84% | 9.04% | 9.89% | 10.76% | 9.31% |
| Tranches | 7 | 7 | 7 | 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.
| HART 2024-A | FCAOT 2024-A | HAROT 2024-1 | WOART 2024-A | TAOT 2024-A | MBART 2024-1 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-03-20 | 2024-03-19 | 2024-02-21 | 2024-02-14 | 2024-01-30 | 2024-01-24 |
| Pool balance | $1,812.8MM | $1,696.7MM | $2,159.2MM | $1,343.7MM | $1,908.5MM | — |
| WA Credit Score | 766+9 | 756 | 768 | 757 | 767 | 754 |
| WA APR | 5.70%+0.33pp | 4.80% | 4.59% | 6.54% | 5.37% | 7.74% |
| WA original term mo | 66.6+0.6 | 63.7 mo | 62.2 mo | 67.6 mo | 66.0 mo | 69.6 mo |
| % new vehicles | 95.8% | 92.5% | 86.1% | 95.6% | 84.2% | 40.3% |
| Reserve % | 0.25% | 0.23% | 0.25% | 0.23% | 0.25% | — |
| Geo top-3 | TX 12.9% FL 11.5% CA 6.4% | TX 16.0% CA 9.1% FL 8.6% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +42 bps+5bps | +36 bps | — | +34 bps | +37 bps | +66 bps |
| AAA % of pool | 69.7%−1.5pp | 70.4% | 73.6% | 71.2% | 71.3% | 42.3% |
| Subordination below AAA | 4.5%+2.7pp | 4.7% | 0.0% | 4.1% | 1.8% | 0.0% |
| OC (initial) | 3.00% | 2.00% | 2.50% | — | 0.85% | 2.50% |
| OC target | 3.00% | 2.00% | — | 1.15% | 0.85% | 2.50% |
| OC floor | 3.00% | 2.00% | — | 0.50% | 0.85% | 2.50% |
| YSOC | 5.15% | 5.77% | — | 6.75% | 6.40% | — |
| Tranches | 7 | 7 | 4 | 7 | 6 | 5 |
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 (154 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.
Hyundai Capital America — ticker HART.
Peer tier: prime.
Open in Explorer ↗ for
FICO sub-band and new/used stratification.