| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 279.0 | 19.6% | 68.2% | 5.51% fxd | 0.27 | 2025-05-15 | P-1 | F1+ |
| Class A-2A | 145.0 | 10.2% | 58.0% | 5.47% fxd | 1.01 | 2026-12-15 | Aaa | AAA |
| Class A-2B | 293.0 | 20.6% | 37.4% | +38 bps SOFR | 1.01 | 2026-12-15 | Aaa | AAA |
| Class A-3 | 438.0 | 30.8% | 6.7% | 5.28% fxd | 2.26 | 2028-12-15 | Aaa | AAA |
| Class A-4 | 95.0 | 6.7% | 0.0% | 5.18% fxd | 3.62 | 2031-04-15 | Aaa | AAA |
| Sponsor | Nissan Motor Acceptance Company LLC |
|---|---|
| Servicer | Nissan Motor Acceptance Company LLC |
| Depositor / Transferor | Nissan Auto Receivables Company II LLC |
| Indenture Trustee | U.S. Bank Trust Company, National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Lloyds Securities, Wells Fargo Securities, BNP Paribas Securities, BofA Securities, U.S. Bancorp Investments, Mizuho Securities |
| NAROT 2024-A | NAROT 2023-B | NAROT 2023-A | NAROT 2022-B | NAROT 2022-A | NAROT 2021-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-05-22 | 2023-10-25 | 2023-04-26 | 2022-09-28 | 2022-02-23 | 2021-06-23 |
| Pool balance | $1,424.1MM | $1,449.7MM | $1,460.5MM | $1,477.8MM | $1,142.1MM | $1,113.8MM |
| WA Credit Score | 780−3 | 780 | 786 | 782 | 783 | 783 |
| WA APR | 4.85%+2.46pp | 3.61% | 3.25% | 2.39% | 1.33% | 1.65% |
| WA original term mo | — | — | — | — | — | — |
| % new vehicles | 10.5% | 9.3% | 7.8% | 7.6% | 7.8% | 7.7% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | TX 17.8% FL 9.5% CA 6.6% | TX 13.6% CA 11.2% IL 6.0% | CA 7.2% TX 6.2% IL 6.0% | CA 11.4% TX 9.5% FL 7.2% | TX 16.8% CA 14.6% FL 9.0% | TX 15.2% CA 11.1% FL 6.5% |
| Structure (at issuance) | ||||||
| AAA spread | +38 bps−18bps | +59 bps | +65 bps | +53 bps | — | +1 bps |
| AAA % of pool | 68.2%+1.9pp | 61.9% | 65.0% | 66.3% | 71.8% | 74.3% |
| Subordination below AAA | 0.0%0.0pp | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| OC (initial) | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
| OC target | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
| OC floor | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% | 4.00% |
| YSOC | 8.57% | 8.14% | 8.68% | 9.52% | 8.79% | 6.48% |
| Tranches | 5 | 5 | 5 | 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.
| NAROT 2024-A | WOART 2024-B | HAROT 2024-2 | TAOT 2024-B | GMCAR 2024-2 | HART 2024-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-05-22 | 2024-05-22 | 2024-05-21 | 2024-04-30 | 2024-04-10 | 2024-03-20 |
| Pool balance | $1,424.1MM | $1,335.1MM | $2,159.3MM | $1,876.3MM | $1,654.1MM | $1,812.8MM |
| WA Credit Score | 780+13 | 757 | 769 | 767 | 784 | 766 |
| WA APR | 4.85%−0.85pp | 7.32% | 4.73% | 5.70% | 5.46% | 5.70% |
| WA original term mo | — | 68.3 mo | 63.2 mo | 66.0 mo | 68.0 mo | 66.6 mo |
| % new vehicles | 10.5% | 95.3% | 86.0% | 86.7% | 87.7% | 95.8% |
| Reserve % | 0.25% | 0.23% | 0.25% | 0.25% | 0.24% | 0.25% |
| Geo top-3 | TX 17.8% FL 9.5% CA 6.6% | FL 43.8% GA 19.9% NC 16.8% | CA 16.6% TX 9.9% MD 6.1% | CA 23.9% TX 15.3% IL 4.6% | TX 14.4% FL 7.1% NY 5.3% | TX 12.9% FL 11.5% CA 6.4% |
| Structure (at issuance) | ||||||
| AAA spread | +38 bps−2bps | +43 bps | +40 bps | +35 bps | +39 bps | +42 bps |
| AAA % of pool | 68.2%−2.8pp | 70.9% | 73.5% | 71.0% | 71.5% | 69.7% |
| Subordination below AAA | 0.0%−2.9pp | 4.2% | 0.0% | 2.3% | 2.9% | 4.5% |
| OC (initial) | 4.00% | — | 2.50% | 0.85% | 1.50% | 3.00% |
| OC target | 4.00% | 0.90% | — | 0.85% | 2.00% | 3.00% |
| OC floor | 4.00% | 0.50% | — | 0.85% | 2.00% | 3.00% |
| YSOC | 8.57% | 6.11% | — | 6.73% | 5.27% | 5.15% |
| Tranches | 5 | 7 | 4 | 6 | 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 (161 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.
Nissan Motor Acceptance Company LLC — ticker NAROT.
Peer tier: prime.
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FICO sub-band and new/used stratification.