| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 225.5 | 17.2% | 4.75% | 0.19 | 5.37% | +12 I-curve | 2025-08-15 | A-1+ | F1+ |
| Class A-2A | 200.0 | 15.2% | 4.75% | — | 4.78% | — | 2028-01-18 | AAA | AAA |
| Class A-2B | 266.0 | 20.3% | 4.75% | — | floating | +47 SOFR | 2028-01-18 | AAA | AAA |
| Class A-3 | 403.0 | 30.7% | 4.75% | 2.77 | 4.43% | +67 I-curve | 2029-12-17 | AAA | AAA |
| Class A-4 | 61.6 | 4.7% | 4.75% | 3.90 | 4.44% | +75 I-curve | 2030-05-15 | AAA | AAA |
| Class B | 36.3 | 2.8% | 1.75% | 3.90 | 4.68% | +100 I-curve | 2030-07-15 | AA | AA |
| Class C | 18.2 | 1.4% | 0.25% | 3.90 | 4.83% | +115 I-curve | 2031-05-15 | A | 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 | U.S. Bank Trust Company, National Association |
| Owner Trustee | Wilmington Trust, National Association |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | Wells Fargo Securities, U.S. Bancorp Investments, MUFG Securities Americas, Mizuho Securities |
| WOART 2024-C | WOART 2024-B | WOART 2024-A | WOART 2023-D | WOART 2023-C | WOART 2023-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-08-20 | 2024-05-22 | 2024-02-14 | 2023-11-08 | 2023-08-16 | 2023-04-19 | 424B5 |
| Pool balance | $1,312.6MM | $1,335.1MM | $1,343.7MM | $1,119.4MM | $1,163.5MM | $1,162.8MM | 424B5 |
| WA Credit Score | 7560 | 757 | 757 | 756 | 756 | 754 | 424B5 |
| WA APR | 6.67%+0.54pp | 7.32% | 6.54% | 6.13% | 5.87% | 5.59% | 424B5 |
| WA original term mo | 68.1+0.5 | 68.3 mo | 67.6 mo | 67.4 mo | 67.6 mo | 68.2 mo | 424B5 |
| % new vehicles | 96.2% | 95.3% | 95.6% | 95.5% | 94.8% | 93.9% | 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% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 4.75%−0.25pp | 4.75% | 5.00% | 5.00% | 5.00% | 5.00% | calc |
| Enhancement, target | 5.65% | 5.65% | 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% | 0.00% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| OC target | 0.90% | 0.90% | 1.15% | 1.15% | 1.15% | 1.15% | 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% | 0.25% | 424B5 |
| YSOC | 7.77% | 7.70% | 8.53% | 10.50% | 10.50% | 10.01% | 424B5 |
| Pricing | |||||||
| AAA spread | +67 bps0bps A-3 · 2.8y | +65 bps 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 | 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-C | TAOT 2024-C | HART 2024-B | GMCAR 2024-3 | FCAOT 2024-B | BMWOT 2024-A | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-08-20 | 2024-07-30 | 2024-07-24 | 2024-07-10 | 2024-06-24 | 2024-06-11 | 424B5 |
| Pool balance | $1,312.6MM | $1,864.8MM | $1,925.2MM | $1,420.3MM | $1,999.5MM | $1,910.0MM | 424B5 |
| WA Credit Score | 756−13 | 769 | 768 | 783 | 755 | 789 | 424B5 |
| WA APR | 6.67%+0.69pp | 6.04% | 5.98% | 6.52% | 4.65% | 5.35% | 424B5 |
| WA original term mo | 68.1+2.7 | 65.4 mo | 67.3 mo | 69.0 mo | 64.8 mo | 63.6 mo | 424B5 |
| % new vehicles | 96.2% | 87.0% | 96.5% | 87.7% | 93.6% | 68.2% | 424B5 |
| Geo top-3 | — | CA 16.3% TX 16.2% PA 4.6% | TX 12.4% CA 12.2% FL 10.4% | TX 14.5% FL 7.5% MI 5.2% | TX 16.0% CA 8.5% FL 8.4% | CA 16.7% TX 13.2% FL 11.0% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 4.75%−0.50pp | 2.75% | 7.55% | 6.10% | 5.25% | 2.75% | calc |
| Enhancement, target | 5.65% | 3.60% | 8.05% | 6.60% | 7.25% | 2.75% | calc |
| Subordinate notes | 4.5%+0.2pp | 2.5% | 4.8% | 4.3% | 5.0% | 0.0% | calc |
| OC (initial) | 0.00% | 0.00% | 2.50% | 1.50% | 0.00% | 2.50% | 424B5 |
| OC target | 0.90% | 0.85% | 3.00% | 2.00% | 2.00% | 2.50% | 424B5 |
| OC floor | 0.50% | 0.85% | 3.00% | 2.00% | 2.00% | 2.50% | 424B5 |
| Reserve account | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 0.25% | 424B5 |
| YSOC | 7.77% | 6.16% | 6.43% | 4.40% | 7.87% | 6.03% | 424B5 |
| Pricing | |||||||
| AAA spread | +67 bps+12bps A-3 · 2.8y | +55 bps A-3 · 2.4y | +55 bps A-3 · 2.4y | +54 bps A-3 · 2.4y | +56 bps A-3 · 2.4y | +54 bps A-3 · 2.3y | FWP |
| Terms | |||||||
| Tranches | 7 | 6 | 7 | 8 | 7 | 5 | 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 (158 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.