| Class | Size ($MM) | % of Pool | Enhancement | WAL | Coupon | Spread | Legal Final | S&P | Fitch |
|---|---|---|---|---|---|---|---|---|---|
| Class A-1 | 135.0 | 16.9% | 24.00% | 0.22 | 5.54% | +20 I-curve | 2025-08-15 | A-1+ | F1+ |
| Class A-2a | 215.2 | 27.0% | 24.00% | 1.05 | 5.37% | +62 I-curve | 2028-02-15 | AAA | AAA |
| Class A-2b | 70.0 | 8.8% | 24.00% | 1.05 | floating | +62 SOFR | 2028-02-15 | AAA | AAA |
| Class A-3 | 190.2 | 23.8% | 24.00% | 2.35 | 4.98% | +70 I-curve | 2030-02-15 | AAA | AAA |
| Class B | 36.7 | 4.6% | 19.40% | 3.13 | 5.18% | +105 I-curve | 2030-06-17 | AA | AA |
| Class C | 57.0 | 7.1% | 12.25% | 3.53 | 5.35% | +125 I-curve | 2030-06-17 | A | A |
| Class D | 39.9 | 5.0% | 7.25% | — | — | — | 2031-07-15 | — | — |
| Class Eretained | 29.9 | 3.7% | 3.50% | 1.50 | — | — | 2031-08-15 | — | — |
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, Mizuho Securities, MUFG Securities Americas |
| WOSAT 2024-A | WOSAT 2023-A | WOSAT 2021-A | Source | |
|---|---|---|---|---|
| Collateral (pool at cut-off) | ||||
| Closing date | 2024-07-24 | 2023-03-15 | 2021-09-22 | 424B5 |
| Pool balance | $797.9MM | $931.8MM | $1,061.1MM | 424B5 |
| WA Credit Score | 655+6 | 651 | 647 | 424B5 |
| WA APR | 10.80%+2.08pp | 9.19% | 8.26% | 424B5 |
| WA original term mo | 74.50.0 | 74.5 mo | 74.5 mo | 424B5 |
| % new vehicles | 90.7% | 84.4% | 86.2% | 424B5 |
| Geo top-3 | FL 54.1% GA 19.9% AL 10.6% | — | FL 53.1% GA 20.6% NC 9.8% | 424B5 |
| Enhancement beneath the AAA term notes | ||||
| Enhancement, initial | 24.00%−0.68pp | 25.85% | 23.50% | calc |
| Enhancement, target | 27.00% | 27.85% | 28.50% | calc |
| Subordinate notes | 20.5%+2.0pp | 19.0% | 18.0% | calc |
| OC (initial) | 3.00% | 6.35% | 5.00% | 424B5 |
| OC target | 6.00% | 8.35% | 10.00% | 424B5 |
| OC floor | 1.00% | 2.00% | 2.00% | 424B5 |
| Reserve account | 0.50% | 0.50% | 0.50% | 424B5 |
| YSOC | — | — | — | 424B5 |
| Pricing | ||||
| AAA spread | +70 bps+16bps A-3 · 2.4y | +90 bps A-3 · 2.5y | +17 bps A-3 · 2.2y | FWP |
| Terms | ||||
| Tranches | 8 | 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.
| WOSAT 2024-A | BLAST 2024-3 | HART 2024-B | GMCAR 2024-3 | CMXS 2024-A | FCAOT 2024-B | Source | |
|---|---|---|---|---|---|---|---|
| Collateral (pool at cut-off) | |||||||
| Closing date | 2024-07-24 | 2024-07-24 | 2024-07-24 | 2024-07-10 | 2024-06-26 | 2024-06-24 | 424B5 |
| Pool balance | $797.9MM | $800.0MM | $1,925.2MM | $1,420.3MM | $666.7MM | $1,999.5MM | 424B5 |
| WA Credit Score | 655−100 | 554 | 768 | 783 | 603 | 755 | 424B5 |
| WA APR | 10.80%+4.28pp | 22.28% | 5.98% | 6.52% | 16.06% | 4.65% | 424B5 |
| WA original term mo | 74.5+7.2 | 65.0 mo | 67.3 mo | 69.0 mo | 68.5 mo | 64.8 mo | 424B5 |
| % new vehicles | 90.7% | 0.1% | 96.5% | 87.7% | 0.0% | 93.6% | 424B5 |
| Geo top-3 | FL 54.1% GA 19.9% AL 10.6% | TX 13.0% FL 12.8% GA 8.6% | TX 12.4% CA 12.2% FL 10.4% | TX 14.5% FL 7.5% MI 5.2% | CA 15.2% TX 14.4% FL 9.4% | TX 16.0% CA 8.5% FL 8.4% | 424B5 |
| Enhancement beneath the AAA term notes | |||||||
| Enhancement, initial | 24.00%+16.45pp | 59.50% | 7.55% | 6.10% | 30.00% | 5.25% | calc |
| Enhancement, target | 27.00% | 64.50% | 8.05% | 6.60% | 38.10% | 7.25% | calc |
| Subordinate notes | 20.5%+15.5pp | 43.0% | 4.8% | 4.3% | 22.8% | 5.0% | calc |
| OC (initial) | 3.00% | 15.00% | 2.50% | 1.50% | 6.25% | 0.00% | 424B5 |
| OC target | 6.00% | 20.00% | 3.00% | 2.00% | 14.35% | 2.00% | 424B5 |
| OC floor | 1.00% | 3.25% | 3.00% | 2.00% | 0.50% | 2.00% | 424B5 |
| Reserve account | 0.50% | 1.50% | 0.25% | 0.25% | 1.00% | 0.25% | 424B5 |
| YSOC | — | n.a. | 6.43% | 4.40% | n.a. | 7.87% | 424B5 |
| Pricing | |||||||
| AAA spread | +70 bps+15bps A-3 · 2.4y | — | +55 bps A-3 · 2.4y | +54 bps A-3 · 2.4y | — | +56 bps A-3 · 2.4y | FWP |
| Terms | |||||||
| Tranches | 8 | 7 | 7 | 8 | 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.
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 (30 series across 3 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 WOSAT.
Peer tier: near-prime.
Open the performance page ↗ for
FICO sub-band and new/used stratification.