| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 440.0 | 18.4% | 7.55% | 0.24 | 3.82% | +14 I-curve | — | A-1+ | — | F1+ |
| Class A-2A | 474.0 | 19.8% | 7.55% | 1.07 | 3.71% | +34 I-curve | — | AAA | Aaa | AAA |
| Class A-2B | 300.0 | 12.5% | 7.55% | 1.07 | floating | +34 SOFR | — | AAA | Aaa | AAA |
| Class A-3 | 774.0 | 32.4% | 7.55% | 2.46 | 3.79% | +34 I-curve | — | AAA | Aaa | AAA |
| Class A-4 | 103.4 | 4.3% | 7.55% | 3.65 | 3.90% | +36 I-curve | — | AAA | Aaa | AAA |
| Class B | 40.6 | 1.7% | 5.75% | 3.98 | 4.10% | +53 I-curve | — | AA+ | Aa1 | AA+ |
| Class C | 67.7 | 2.8% | 2.75% | 4.21 | 4.31% | +73 I-curve | — | AA | — | A+ |
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 | Hyundai Capital America |
|---|---|
| Servicer | Hyundai Capital America |
| Depositor / Transferor | Hyundai ABS Funding, LLC |
| Indenture Trustee | Citibank, N.A |
| Owner Trustee | U.S. Bank Trust National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, Credit Agricole Securities, Wells Fargo Securities, TD Securities, MUFG Securities Americas, SMBC Nikko Securities |
| HART 2026-A | HART 2025-D | HART 2025-C | HART 2025-B | HART 2025-A | HART 2024-C | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-02-18 | 2025-11-12 | 2025-09-17 | 2025-06-11 | 2025-03-12 | 2024-10-16 | 424B5 |
| Pool balance | $2,392.4MM | $2,171.9MM | $2,148.3MM | $2,188.2MM | $2,188.3MM | $1,859.5MM | 424B5 |
| WA Credit Score | 775+5 | 773 | 772 | 770 | 769 | 769 | 424B5 |
| WA APR | 5.39%−0.22pp | 5.36% | 5.61% | 5.95% | 5.56% | 5.97% | 424B5 |
| WA original term mo | 67.2−0.7 | 67.9 mo | 67.9 mo | 67.5 mo | 67.9 mo | 68.0 mo | 424B5 |
| % new vehicles | 97.5% | 99.9% | 99.5% | 97.5% | 96.6% | 96.7% | 424B5 |
| Geo top-3 | TX 13.2% FL 10.1% CA 9.1% | TX 13.1% FL 10.2% CA 8.0% | TX 13.0% FL 9.8% CA 8.2% | CA 14.3% TX 11.9% FL 9.3% | CA 12.9% TX 12.5% FL 9.5% | TX 12.7% FL 10.6% CA 8.9% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 7.55%0.00pp | 7.55% | 7.55% | 7.55% | 7.55% | 7.55% | calc |
| Enhancement, target | 8.05% | 8.05% | 8.05% | 8.05% | 8.05% | 8.05% | calc |
| Subordinate notes | 4.8%0.0pp | 4.8% | 4.8% | 4.8% | 4.8% | 4.8% | calc |
| OC (initial) | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 2.50% | 424B5 |
| OC target | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 424B5 |
| OC floor | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 3.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 5.70% | 5.68% | 5.09% | 5.22% | 6.01% | 4.98% | 424B5 |
| Pricing | |||||||
| AAA spread | +34 bps−8bps A-3 · 2.5y | +39 bps A-3 · 2.4y | +38 bps A-3 · 2.3y | +45 bps A-3 · 2.3y | +42 bps A-3 · 2.3y | +53 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 7 | 7 | 7 | 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.
| HART 2026-A | HAROT 2026-1 | WOART 2026-A | TAOT 2026-A | GMCAR 2026-1 | FCAOT 2025-C | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2026-02-18 | 2026-02-18 | 2026-02-18 | 2026-01-21 | 2026-01-14 | 2025-11-25 | 424B5 |
| Pool balance | $2,392.4MM | $2,483.1MM | $1,308.7MM | $1,995.4MM | $1,317.6MM | $1,096.6MM | 424B5 |
| WA Credit Score | 775+5 | 770 | 758 | 771 | 779 | 752 | 424B5 |
| WA APR | 5.39%−0.29pp | 5.00% | 5.87% | 5.68% | 6.71% | 5.15% | 424B5 |
| WA original term mo | 67.2+1.3 | 61.6 mo | 68.4 mo | 65.9 mo | 70.0 mo | 65.9 mo | 424B5 |
| % new vehicles | 97.5% | 86.5% | 98.0% | 88.0% | 80.8% | 93.7% | 424B5 |
| Geo top-3 | TX 13.2% FL 10.1% CA 9.1% | CA 16.0% TX 9.5% NY 6.7% | FL 44.5% GA 18.6% NC 16.2% | CA 23.8% TX 16.7% IL 3.8% | TX 14.6% FL 7.1% CA 6.3% | TX 16.6% CA 8.8% FL 8.4% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 7.55%+2.80pp | 2.75% | 4.75% | 2.75% | 6.10% | 5.25% | calc |
| Enhancement, target | 8.05% | — | 5.65% | 3.60% | 6.10% | 7.25% | calc |
| Subordinate notes | 4.8%+1.7pp | 0.0% | 4.5% | 2.5% | 3.1% | 5.0% | calc |
| OC (initial) | 2.50% | 2.50% | 0.00% | 0.00% | 2.75% | 0.00% | 424B5 |
| OC target | 3.00% | — | 0.90% | 0.85% | 2.75% | 2.00% | 424B5 |
| OC floor | 3.00% | — | 0.50% | 0.85% | 2.75% | 2.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 5.70% | n.a. | 5.49% | 4.78% | 2.44% | 4.01% | 424B5 |
| Pricing | |||||||
| AAA spread | +34 bps−1bps A-3 · 2.5y | +34 bps A-3 · 2.4y | +36 bps A-3 · 2.6y | +34 bps A-3 · 2.4y | +35 bps A-3 · 2.6y | +35 bps A-3 · 2.3y | FWP |
| Terms | |||||||
| Tranches | 7 | 5 | 7 | 6 | 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 (202 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 the performance page ↗ for
FICO sub-band and new/used stratification.