| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P |
|---|---|---|---|---|---|---|---|---|
| Class A-1 | 230.0 | 17.2% | 4.75% | 0.22 | 5.53% | +15 I-curve | 2025-05-15 | A-1+ |
| Class A-2A | 200.0 | 15.0% | 4.75% | 1.08 | 5.48% | +43 I-curve | 2027-09-15 | AAA |
| Class A-2B | 228.5 | 17.1% | 4.75% | 1.08 | floating | +43 SOFR | 2027-09-15 | AAA |
| Class A-3 | 428.5 | 32.1% | 4.75% | 2.67 | 5.27% | +65 I-curve | 2029-09-15 | AAA |
| Class A-4 | 89.8 | 6.7% | 4.75% | 3.95 | 5.23% | +75 I-curve | 2030-07-15 | AAA |
| Class Bretained | 37.0 | 2.8% | 1.75% | 3.98 | — | — | 2030-07-15 | AA |
| Class Cretained | 18.5 | 1.4% | 0.25% | 3.98 | — | — | 2031-02-18 | 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 | World Omni Financial Corp. |
|---|---|
| Servicer | World Omni Financial Corp. |
| Depositor / Transferor | World Omni Auto Receivables LLC |
| Indenture Trustee | Wilmington Trust, National Association |
| Owner Trustee | U.S. Bank Trust National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | TD Securities, Barclays Capital, BofA Securities, Mizuho Securities |
| WOART 2024-B | WOART 2024-A | WOART 2023-D | WOART 2023-C | WOART 2023-B | WOART 2023-A | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-05-22 | 2024-02-14 | 2023-11-08 | 2023-08-16 | 2023-04-19 | 2023-02-15 | 424B5 |
| Pool balance | $1,335.1MM | $1,343.7MM | $1,119.4MM | $1,163.5MM | $1,162.8MM | $1,116.8MM | 424B5 |
| WA Credit Score | 757+1 | 757 | 756 | 756 | 754 | 753 | 424B5 |
| WA APR | 7.32%+1.45pp | 6.54% | 6.13% | 5.87% | 5.59% | 5.59% | 424B5 |
| WA original term mo | 68.3+0.7 | 67.6 mo | 67.4 mo | 67.6 mo | 68.2 mo | 67.9 mo | 424B5 |
| % new vehicles | 95.3% | 95.6% | 95.5% | 94.8% | 93.9% | 95.8% | 424B5 |
| Geo top-3 | FL 43.8% GA 19.9% NC 16.8% | FL 47.9% GA 18.3% NC 15.8% | FL 44.7% GA 19.6% NC 16.6% | FL 44.9% GA 19.6% NC 16.1% | FL 50.5% GA 17.3% NC 14.9% | FL 46.0% GA 19.0% NC 16.6% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 4.75%−0.25pp | 5.00% | 5.00% | 5.00% | 5.00% | 5.00% | calc |
| Enhancement, target | 5.65% | 5.90% | 5.90% | 5.90% | 5.90% | 5.90% | calc |
| Subordinate notes | 4.5%0.0pp | 4.5% | 4.5% | 4.5% | 4.5% | 4.5% | calc |
| OC (initial) | 0.00% | 0.25% | 0.25% | 0.25% | 0.25% | 0.00% | 424B5 |
| OC target | 0.90% | 1.15% | 1.15% | 1.15% | 1.15% | 0.90% | 424B5 |
| OC floor | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.50% | 424B5 |
| YSOC | 7.70% | 8.53% | 10.50% | 10.50% | 10.01% | 9.78% | 424B5 |
| Pricing | |||||||
| AAA spread | +65 bps−2bps A-3 · 2.7y | +65 bps A-3 · 2.6y | +92 bps A-3 · 2.7y | +67 bps A-3 · 2.6y | +81 bps A-3 · 2.5y | +64 bps A-3 · 2.6y | 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.
| WOART 2024-B | NAROT 2024-A | HAROT 2024-2 | TAOT 2024-B | GMCAR 2024-2 | HART 2024-A | Source | |
|---|---|---|---|---|---|---|---|
| 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 | 424B5 |
| Pool balance | $1,335.1MM | $1,424.1MM | $2,159.3MM | $1,876.3MM | $1,654.1MM | $1,812.8MM | 424B5 |
| WA Credit Score | 757−12 | 780 | 769 | 767 | 784 | 766 | 424B5 |
| WA APR | 7.32%+1.62pp | 4.81% | 4.74% | 5.70% | 6.23% | 5.70% | 424B5 |
| WA original term mo | 68.3+2.0 | — | 63.2 mo | 66.0 mo | 68.0 mo | 66.6 mo | 424B5 |
| % new vehicles | 95.3% | 10.5% | 86.0% | 86.7% | 87.7% | 95.8% | 424B5 |
| Geo top-3 | FL 43.8% GA 19.9% NC 16.8% | TX 17.8% FL 9.5% CA 6.6% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 4.75%+0.50pp | 4.25% | 2.75% | 2.75% | 6.10% | 7.55% | calc |
| Enhancement, target | 5.65% | 4.25% | — | 3.60% | 6.60% | 8.05% | calc |
| Subordinate notes | 4.5%+2.0pp | 0.0% | 0.0% | 2.5% | 4.4% | 4.8% | calc |
| OC (initial) | 0.00% | 4.00% | 2.50% | 0.00% | 1.50% | 2.50% | 424B5 |
| OC target | 0.90% | 4.00% | — | 0.85% | 2.00% | 3.00% | 424B5 |
| OC floor | 0.50% | 4.00% | — | 0.85% | 2.00% | 3.00% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 7.70% | 8.57% | n.a. | 6.73% | 5.27% | 6.82% | 424B5 |
| Pricing | |||||||
| AAA spread | +65 bps+7bps A-3 · 2.7y | +58 bps A-3 · 2.3y | +58 bps A-3 · 2.3y | +55 bps A-3 · 2.5y | +57 bps A-3 · 2.5y | +63 bps A-3 · 2.5y | FWP |
| Terms | |||||||
| Tranches | 7 | 5 | 4 | 6 | 8 | 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 (152 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.
World Omni Financial Corp. — ticker WOART.
Peer tier: prime.
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FICO sub-band and new/used stratification.