Free Writing Prospectus Dated May 19, 2020 | Filed pursuant to Rule 433 Registration Nos. 333-228954 and 333-228954-03 |
$789.04mm CNH Equipment Trust 2020-A
JT-Leads: BofA (struc), BNP, Mizuho, Santander
Co-Mgrs : Academy, CIBC, Standard Chartered
CLS |
| Size$mm |
| WAL |
| MDY/S&P |
| EXP |
| LEGAL |
| BENCH |
| YIELD |
| PRICE |
| CPN |
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A-1 |
| 160.900 |
| 0.31 |
| P-1/A-1+ |
| 12/20 |
| 6/15/21 |
| N/A |
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A-2 |
| 267.000 |
| 0.99 |
| Aaa/AAA |
| 1/22 |
| 7/17/23 |
| EDSF + 80 |
| 1.088 |
| 99.99457 |
| 1.08 |
A-3 |
| 268.000 |
| 2.45 |
| Aaa/AAA |
| 1/24 |
| 6/16/25 |
| ISWP + 90 |
| 1.171 |
| 99.98037 |
| 1.16 |
A-4 |
| 75.390 |
| 3.77 |
| Aaa/AAA |
| 3/24 |
| 4/15/27 |
| ISWP +120 |
| 1.520 |
| 99.98096 |
| 1.51 |
B |
| 17.750 |
| 3.80 |
| Aa2/AA- |
| 3/24 |
| 10/15/27 |
| ISWP +200 |
| 2.321 |
| 99.96422 |
| 2.30 |
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This is CNH’s first ABS transaction highlighting Environmental, Social, and Governance (ESG) initiatives as referenced in CNH Industrial’s 2019 Annual sustainability report.
BILL & DELIVER : BofA BBG TICKER : CNH 2020-A CNH20A
EXPECTED RATINGS: Moody’s/S&P REGISTRATION : SEC Registered
EXPECTED SETTLE : 5/27/20 FIRST PAY DATE: 6/15/20
ERISA ELIGIBLE : Yes DENOMS : $1k/$1
PXG SPEED : 20% CPR to 10% CALL
CUSIPS A1 : 12597PAA6
A2 : 12597PAB4
A3 : 12597PAC2
A4 : 12597PAD0
B : 12597PAE8
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The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and 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 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 1-800-294-1322 or you may e-mail a request to prospectus_request@bofa.com. The securities may not be suitable for all investors. BofA Securities, Inc. and its affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer.