| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 305.0 | 21.8% | 67.6% | 4.70% fxd | — | 2025-10-15 | P-1 | F1+ |
| Class A-2a | 135.0 | 9.7% | 57.9% | 4.51% fxd | — | 2027-06-15 | Aaa | AAA |
| Class A-2b | 315.0 | 22.5% | 35.4% | +38 bps SOFR | — | 2027-06-15 | Aaa | AAA |
| Class A-3 | 400.0 | 28.6% | 6.8% | 4.34% fxd | — | 2029-03-15 | Aaa | AAA |
| Class A-4 | 95.0 | 6.8% | 0.0% | 4.35% fxd | — | 2031-09-15 | 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 | BNP Paribas Securities, Lloyds Securities, Wells Fargo Securities, U.S. Bancorp Investments, Mizuho Securities, Citigroup Global Markets |
| NAROT 2024-B | NAROT 2024-A | NAROT 2023-B | NAROT 2023-A | NAROT 2022-B | NAROT 2022-A | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-10-23 | 2024-05-22 | 2023-10-25 | 2023-04-26 | 2022-09-28 | 2022-02-23 |
| Pool balance | $1,397.8MM | $1,424.1MM | $1,449.7MM | $1,460.5MM | $1,477.8MM | $1,142.1MM |
| WA Credit Score | 783+1 | 780 | 780 | 786 | 782 | 783 |
| WA APR | 4.62%+1.37pp | 4.85% | 3.61% | 3.25% | 2.39% | 1.33% |
| WA original term mo | — | — | — | — | — | — |
| % new vehicles | 10.0% | 10.5% | 9.3% | 7.8% | 7.6% | 7.8% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | TX 17.1% FL 8.8% CA 6.2% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +38 bps−18bps | +38 bps | +59 bps | +65 bps | +53 bps | — |
| AAA % of pool | 67.6%+1.3pp | 68.2% | 61.9% | 65.0% | 66.3% | 71.8% |
| 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 | 6.85% | 8.57% | 8.14% | 8.68% | 9.52% | 8.79% |
| Tranches | 5 | 5 | 5 | 5 | 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-B | TAOT 2024-D | HART 2024-C | GMCAR 2024-4 | FCAOT 2024-C | HAROT 2024-3 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2024-10-23 | 2024-10-17 | 2024-10-16 | 2024-10-16 | 2024-09-20 | 2024-08-21 |
| Pool balance | $1,397.8MM | $1,841.9MM | $1,859.5MM | $1,346.6MM | $1,688.8MM | $2,159.2MM |
| WA Credit Score | 783+14 | 770 | 769 | 782 | 756 | 768 |
| WA APR | 4.62%−1.21pp | 5.96% | 5.97% | 5.83% | 4.74% | 4.72% |
| WA original term mo | — | 65.4 mo | 68.0 mo | 69.0 mo | 64.8 mo | 61.3 mo |
| % new vehicles | 10.0% | 90.0% | 96.7% | 87.7% | 93.9% | 85.3% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.24% | 0.23% | 0.25% |
| Geo top-3 | TX 17.1% FL 8.8% CA 6.2% | TX 17.3% CA 15.6% PA 4.5% | TX 12.7% FL 10.6% CA 8.9% | TX 15.3% FL 7.2% MI 5.3% | TX 16.1% FL 8.6% CA 8.4% | CA 16.2% TX 9.7% NY 6.7% |
| Structure (at issuance) | ||||||
| AAA spread | +38 bps−2bps | +39 bps | +40 bps | +40 bps | +40 bps | +48 bps |
| AAA % of pool | 67.6%−4.8pp | 73.7% | 69.8% | 72.8% | 69.3% | 72.4% |
| Subordination below AAA | 0.0%−2.4pp | 2.4% | 4.6% | 1.6% | 4.7% | 0.0% |
| OC (initial) | 4.00% | 0.85% | 3.00% | 1.50% | 2.00% | 2.50% |
| OC target | 4.00% | 0.85% | 3.00% | 2.00% | 2.00% | — |
| OC floor | 4.00% | 0.85% | 3.00% | 2.00% | 2.00% | — |
| YSOC | 6.85% | 4.99% | 4.98% | 3.04% | 6.50% | — |
| Tranches | 5 | 6 | 7 | 6 | 7 | 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.
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 (172 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.