| Class | Size ($MM) | % of Pool | Sub % | CPN / Spread | WAL | Legal Final | Moody's | Fitch |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 260.0 | 18.6% | 72.3% | +14 bps | 0.27 | 2027-06-15 | P-1 | F1+ |
| Class A-2a | 240.0 | 17.2% | 55.1% | +43 bps | 1.03 | 2029-03-15 | Aaa | AAA |
| Class A-2b | 198.1 | 14.2% | 40.9% | +43 bps SOFR | 1.03 | 2029-03-15 | Aaa | AAA |
| Class A-3 | 438.1 | 31.4% | 9.5% | +44 bps | 2.33 | 2030-12-15 | Aaa | AAA |
| Class A-4 | 93.8 | 6.7% | 2.8% | +53 bps | 3.60 | 2032-03-15 | Aaa | AAA |
| Class B | 21.1 | 1.5% | 1.2% | +75 bps | 3.88 | 2032-03-15 | Aa3 | AA |
| Class C | 17.3 | 1.2% | 0.0% | +95 bps | 3.88 | 2034-02-15 | A2 | A |
| Sponsor | Nissan Motor Acceptance Company LLC |
|---|---|
| Servicer | NMAC |
| Depositor / Transferor | Nissan Auto Receivables Company II LLC |
| Indenture Trustee | Wilmington Trust, National Association |
| Owner Trustee | Wilmington Trust, National Association (“ |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | — |
| NAROT 2026-A | NAROT 2025-B | NAROT 2025-A | NAROT 2024-B | NAROT 2024-A | NAROT 2023-B | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-05-27 | 2025-11-25 | 2025-05-27 | 2024-10-23 | 2024-05-22 | 2023-10-25 |
| Pool balance | $1,394.8MM | $1,381.3MM | $1,668.5MM | $1,397.8MM | $1,424.1MM | $1,449.7MM |
| WA Credit Score | 787+4 | 795 | 789 | 783 | 780 | 780 |
| WA APR | 4.44%−0.17pp | 4.61% | 4.46% | 4.62% | 4.85% | 3.61% |
| WA original term mo | — | — | — | — | — | — |
| % new vehicles | 10.9% | 10.0% | 6.9% | 10.0% | 10.5% | 9.3% |
| Reserve % | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | FL 6.8% CA 6.3% GA 3.7% | TX 17.5% FL 7.4% CA 6.5% | TX 14.8% FL 7.3% CA 6.7% | 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% |
| Structure (at issuance) | ||||||
| AAA spread | +43 bps+5bps | +38 bps | +45 bps | +38 bps | +38 bps | +59 bps |
| AAA % of pool | 69.5%+1.6pp | 68.8% | 68.0% | 67.6% | 68.2% | 61.9% |
| Subordination below AAA | 2.8%+2.8pp | 1.5% | 1.4% | 0.0% | 0.0% | 0.0% |
| OC (initial) | 1.00% | 2.35% | 2.50% | 4.00% | 4.00% | 4.00% |
| OC target | 1.00% | 2.35% | 2.50% | 4.00% | 4.00% | 4.00% |
| OC floor | 1.00% | 2.35% | 2.50% | 4.00% | 4.00% | 4.00% |
| YSOC | 8.14% | 7.33% | 7.79% | 6.85% | 8.57% | 8.14% |
| Tranches | 7 | 6 | 6 | 5 | 5 | 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.
| NAROT 2026-A | MBART 2026-1 | WOART 2026-B | HAROT 2026-2 | TAOT 2026-B | GMCAR 2026-2 | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2026-05-27 | 2026-05-20 | 2026-05-13 | 2026-05-13 | 2026-04-21 | 2026-04-15 |
| Pool balance | $1,394.8MM | — | $1,406.0MM | $2,159.3MM | $2,000.6MM | $1,335.0MM |
| WA Credit Score | 787+17 | 780 | 759 | 768 | 770 | 777 |
| WA APR | 4.44%−1.35pp | 6.37% | 5.79% | 4.99% | 5.57% | 6.11% |
| WA original term mo | — | 62.4 mo | 68.6 mo | 61.9 mo | 66.0 mo | 70.0 mo |
| % new vehicles | 10.9% | 48.1% | 98.1% | 86.1% | 87.6% | 80.8% |
| Reserve % | 0.25% | — | 0.23% | 0.25% | 0.25% | 0.25% |
| Geo top-3 | FL 6.8% CA 6.3% GA 3.7% | CA 20.4% FL 14.8% TX 14.0% | FL 45.9% GA 18.6% NC 15.2% | CA 15.3% TX 9.9% NY 6.2% | CA 24.1% TX 16.1% AZ 3.6% | TX 14.2% FL 7.1% CA 6.7% |
| Structure (at issuance) | ||||||
| AAA spread | +43 bps+5bps | +36 bps | +38 bps | +38 bps | +38 bps | +40 bps |
| AAA % of pool | 69.5%−3.3pp | 73.6% | 70.3% | 72.8% | 72.6% | 75.7% |
| Subordination below AAA | 2.8%+0.4pp | 0.0% | 4.2% | 0.0% | 2.4% | 3.0% |
| OC (initial) | 1.00% | 2.50% | — | — | 0.85% | 2.75% |
| OC target | 1.00% | 2.50% | 0.90% | — | 0.85% | 2.75% |
| OC floor | 1.00% | 2.50% | 0.50% | — | 0.85% | 2.75% |
| YSOC | 8.14% | — | 6.38% | 5.10% | 5.03% | 2.19% |
| Tranches | 7 | 5 | 7 | 5 | 6 | 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 (213 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.