| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 130.0 | 12.5% | 19.65% | 0.25 | 4.42% | +13 I-curve | 2026-03-16 | A-1+ | F1+ |
| Class A-2A | 167.0 | 16.1% | 19.65% | 1.21 | 4.35% | +39 I-curve | 2027-12-15 | AAA | AAA |
| Class A-2B | 153.0 | 14.7% | 19.65% | 1.21 | floating | +39 SOFR | 2027-12-15 | AAA | AAA |
| Class A-3 | 320.0 | 30.8% | 19.65% | 2.22 | 4.42% | +53 I-curve | 2028-04-17 | AAA | AAA |
| Class A-4 | 69.6 | 6.7% | 19.65% | 2.48 | 4.49% | +61 I-curve | 2030-05-15 | AAA | AAA |
| Class B | 57.1 | 5.5% | 14.15% | 2.59 | 4.68% | +80 I-curve | 2030-05-15 | AA | AA |
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 Leasing LLC |
| Indenture Trustee | as pledgee of the Issuing Entity—is in |
| Owner Trustee | U.S. Bank Trust National |
| Asset Rep. Reviewer | Clayton Fixed Income Services LLC |
| Underwriters | BofA Securities, TD Securities, Wells Fargo Securities, MUFG Securities Americas, Mizuho Securities |
| WOALT 2025-A | WOALT 2024-A | WOALT 2023-A | WOALT 2022-A | WOALT 2021-A | Source | |
|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||||
| Closing date | 2025-03-12 | 2024-04-17 | 2023-05-24 | 2022-04-13 | 2021-07-21 | 424B5 |
| Pool balance | $1,038.4MM | $991.2MM | $935.4MM | $964.5MM | $960.0MM | 424B5 |
| WA Lessee Credit Score | 742−4 | 747 | 749 | 745 | 743 | 424B5 |
| WA original term mo | 37.4−0.6 | 38.3 mo | 38.8 mo | 36.8 mo | 37.5 mo | 424B5 |
| WA Residual % MSRP | 57.0% | 57.4% | 59.2% | 59.7% | 60.1% | calc |
| ALG-marked residuals | 100.0% | 100.0% | 100.0% | 100.0% | 100.0% | calc |
| WA Securitization Value | $33,344 | $29,019 | $27,329 | $28,802 | $28,462 | calc |
| Top-3 model concentration | 36.7% | 34.1% | 43.4% | 48.2% | 43.1% | calc |
| Geo top-3 | FL 63.0% NC 14.6% GA 7.9% | FL 62.5% NC 15.7% GA 7.7% | FL 63.3% NC 15.9% SC 8.2% | FL 66.8% NC 14.9% SC 6.7% | FL 65.9% NC 14.7% SC 7.3% | 424B5 |
| Enhancement beneath the AAA term notes | ||||||
| Enhancement, initial | 19.65%+0.90pp | 17.00% | 18.25% | 19.26% | 19.25% | calc |
| Enhancement, target | 21.40% | 18.75% | 20.00% | 21.26% | 20.75% | calc |
| Subordinate notes | 5.5%+1.7pp | 4.7% | 3.8% | 3.8% | 3.8% | calc |
| Initial OC | 13.65% | 11.75% | 14.00% | 15.00% | 15.00% | 424B5 |
| Target OC | 15.40% | 13.50% | 15.75% | 17.00% | 16.50% | 424B5 |
| Reserve account | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% | 424B5 |
| Pricing | ||||||
| AAA spread | +53 bps−3bps A-3 · 2.2y | +64 bps A-3 · 2.3y | +108 bps A-3 · 2.0y | +48 bps A-3 · 1.9y | +7 bps A-3 · 2.1y | FWP |
| Terms | ||||||
| Discount rate | 10.00% | 10.80% | 11.00% | 8.00% | 5.25% | 424B5 |
| Tranches | 6 | 6 | 6 | 5 | 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.
| WOALT 2025-A | GMALT 2025-1 | FCALT 2025-A | NALT 2025-A | BMWLT 2024-2 | MBALT 2024-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2025-03-12 | 2025-02-12 | 2025-01-27 | 2025-01-22 | 2024-10-07 | 2024-09-25 | 424B5 |
| Pool balance | $1,038.4MM | $1,964.9MM | $1,560.5MM | $1,685.5MM | $1,468.9MM | $1,450.0MM | 424B5 |
| WA Lessee Credit Score | 742−39 | 781 | 764 | 766 | 799 | 786 | 424B5 |
| WA original term mo | 37.4+1.4 | 35.0 mo | 35.1 mo | 37.0 mo | 36.0 mo | 42.2 mo | 424B5 |
| WA Residual % MSRP | 57.0% | 52.5% | 50.2% | 50.1% | 48.4% | 44.3% | calc |
| ALG-marked residuals | 100.0% | 95.9% | 80.1% | 100.0% | 100.0% | 94.0% | calc |
| WA Securitization Value | $33,344 | $32,926 | $34,773 | $28,000 | $62,107 | $49,171 | calc |
| Top-3 model concentration | 36.7% | 37.9% | 53.6% | 50.5% | 20.7% | 22.0% | calc |
| Geo top-3 | FL 63.0% NC 14.6% GA 7.9% | MI 27.5% NY 15.0% FL 9.1% | MI 38.9% NY 10.8% CA 7.0% | FL 11.6% CA 11.6% TX 7.3% | CA 19.2% FL 13.6% NJ 9.2% | CA 29.3% NY 13.8% FL 13.5% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 19.65%+1.80pp | 18.80% | 20.15% | 17.85% | 15.15% | 11.75% | calc |
| Enhancement, target | 21.40% | 19.80% | 22.95% | — | 17.65% | 13.25% | calc |
| Subordinate notes | 5.5%−0.4pp | 8.6% | 12.9% | 5.9% | 0.0% | 0.0% | calc |
| Initial OC | 13.65% | 10.00% | 7.00% | 11.60% | 14.90% | 11.50% | 424B5 |
| Target OC | 15.40% | 11.00% | 9.80% | — | 17.40% | 13.00% | 424B5 |
| Reserve account | 0.50% | 0.25% | 0.25% | 0.40% | 0.25% | 0.25% | 424B5 |
| Pricing | |||||||
| AAA spread | +53 bps−4bps A-3 · 2.2y | +52 bps A-3 · 1.9y | +48 bps A-3 · 2.0y | — | +62 bps A-3 · 2.1y | +66 bps A-3 · 1.9y | FWP |
| Terms | |||||||
| Discount rate | 10.00% | 9.50% | 9.40% | 10.00% | 11.20% | 10.95% | 424B5 |
| Tranches | 6 | 7 | 8 | 7 | 5 | 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.
Anchor expectations in empirical base rates from the sponsor's prior series and FICO-tier peer set.
| Latest CRR | 104.91% |
|---|---|
| Realized G/L (% of scheduled) | 4.91% |
| Returned vehicles to date | 294 |
CRR = realized residual ÷ scheduled residual on returned vehicles. >100% = pool recovered above booked residuals.