Ford Credit Auto Receivables Two LLC
09/19/2024 | Press release | Distributed by Public on 09/19/2024 14:31
Free Writing Prospectus - Form FWP
Free Writing Prospectus
Filed Pursuant to Rule 433
Dated September 17, 2024
Registration Statement Nos. 333-258040 and
333-258040-10
*Full Pricing* ~$1.55+BN (Offered) Ford Credit Auto Owner Trust (FORDO 2024-C) Prime Auto Loan ABS
Active Leads: Citi (Str.), Credit Agricole, Scotiabank
Passive Leads: SMBC Nikko, Truist Securities
Passive Co-Managers: BNY Capital Markets, US Bank
Active Co-Managers: AmeriVet Securities, Ramirez & Co.
Capital Structure:
| CL | OFF AMT ($MM) | WAL** | P.WIN | F/S | E. FINAL | L. FINAL | BENCH | SPREAD | YIELD (%) | CPN% | $PX | |||||||||||
| A-1 | $330.000 | 0.30 | 1-7 | F1+/A-1+ | 04/15/2025 | 10/15/2025 | I-Curve | +11 | 4.922 | 4.992 | 100.00000 | |||||||||||
| A-2A | $300.000 | 1.09 | 7-20 | AAA/AAA | 05/15/2026 | 08/15/2027 | I-Curve | +42 | 4.363 | 4.32 | 99.99599 | |||||||||||
| A-2B | $245.000 | 1.09 | 7-20 | AAA/AAA | 05/15/2026 | 08/15/2027 | SOFR30A | +40 | 100.00000 | |||||||||||||
| A-3 | $545.000 | 2.46 | 20-42 | AAA/AAA | 03/15/2028 | 07/15/2029 | I-Curve | +58 | 4.105 | 4.07 | 99.99932 | |||||||||||
| A-4 | $ 80.000 | 3.61 | 42-44 | AAA/AAA | 05/15/2028 | 07/15/2030 | I-Curve | +70 | 4.149 | 4.11 | 99.98807 | |||||||||||
| B | $ 47.370 | 3.65 | 44-44 | AA/AA | 05/15/2028 | 08/15/2030 | I-Curve | +100 | 4.449 | 4.40 | 99.97209 | |||||||||||
| C | $ 31.570 | 3.65 | 44-44 | NR/NR | 05/15/2028 | 03/15/2032 | Not offered |
** Assumes a 1.30% ABS prepayment assumption priced to a 10% call
-Deal Summary-
| Settle | : September 20th, 2024 | ||
| First Pay Date | : October 15th, 2024 | ||
| Offering Format | : Public | ||
| ERISA | : Yes | ||
| Exp. Ratings | : Fitch / S&P | ||
| Min Denoms | : $1k x $1k | ||
| BBG Ticket | : FORDO 2024-C | ||
| Delivery | : DTC, Clearstream | ||
| -Available Information- | |||
| * Preliminary Prospectus, Ratings FWP and CDI Attached | |||
| * Intex Deal Name: XFAOT24C | Password: 99K3 | ||
-CUSIPS-
| A-1 | A-2a | A-2b | A-3 | A-4 | B | C | ||||||||
| CUSIP | 34532U AA7 | 34532U AB5 | 34532U AC3 | 34532U AD1 | 34532U AE9 | 34532U AF6 | 34532U AG4 | |||||||
| ISIN | US34532UAA79 | US34532UAB52 | US34532UAC36 | US34532UAD19 | US34532UAE91 | US34532UAF66 | US34532UAG40 |
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and the other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC web site at https://www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146. Any legends, disclaimers or notices that appear below are not applicable to this message and should be disregarded. Such text has been automatically generated via bloomberg or another system.