Free Writing Prospectus
Filed Pursuant to Rule 433
Dated September 2, 2009
Registration Statement No. 333-143316-09
Filed Pursuant to Rule 433
Dated September 2, 2009
Registration Statement No. 333-143316-09
$1,433,800,000
Ford Credit Auto Owner Trust 2009-D
Issuing Entity or Trust
Issuing Entity or Trust
Ford Credit Auto Receivables Two LLC
Depositor
Depositor
Ford Motor Credit Company LLC
Sponsor and Servicer
Sponsor and Servicer
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed with the SEC for more complete information about the depositor, the issuing entity and this offering. You may get these documents for free by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, the issuing entity, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by placing a call to 1-800-294-1322.
The Trust will issue:
| Final Scheduled | |||||||||||
| Principal Amount | Interest Rate | Payment Date | |||||||||
Class A-1 notes(1) | $ | 640,000,000 | 0.35740% | September 15, 2010 | |||||||
| Class A-2 notes | 409,000,000 | 1.21% | January 15, 2012 | ||||||||
| Class A-3 notes | 805,000,000 | 2.17% | October 15, 2013 | ||||||||
| Class A-4 notes | 219,800,000 | 2.98% | August 15, 2014 | ||||||||
Class B notes(1) | 65,500,000 | 3.71% | December 15, 2014 | ||||||||
Class C notes(1) | 43,700,000 | 4.25% | May 15, 2015 | ||||||||
Class D notes(1) | 43,700,000 | 8.14% | February 15, 2016 | ||||||||
| Total | $ | 2,226,700,000 | |||||||||
| (1) | The Class A-1 notes, Class B notes, Class C notes and Class D notes are not being publicly offered. |
The pricing terms of the offered notes are:
| Underwriting | ||||||||||||
| Price to Public | Discount | Proceeds to the Depositor(1) | ||||||||||
| Class A-2 notes | 99.99517% | 0.250% | 99.74517% | |||||||||
| Class A-3 notes | 99.98811% | 0.325% | 99.66311% | |||||||||
| Class A-4 notes | 99.98357% | 0.450% | 99.53357% | |||||||||
| Total | $ | 1,433,648,417.66 | $ | 4,627,850.00 | $ | 1,429,020,567.66 | ||||||
| (1) | Before deducting expenses estimated to be $1,100,000. |
| Weighted Average Life(yrs)(1) | Expected Maturity | Bench+Spread | Yield | |||||||||||||
| Class A-1 notes | 0.29 | April 15, 2010 | INTERPL-5 | 0.35740 | % | |||||||||||
| Class A-2 notes | 0.99 | December 15, 2010 | EDSF+60 | 1.218 | % | |||||||||||
| Class A-3 notes | 1.99 | July 15, 2012 | EDSF+90 | 2.186 | % | |||||||||||
| Class A-4 notes | 3.20 | May 15, 2013 | ISWAPS+105 | 3.004 | % | |||||||||||
| (1) | Assuming a 1.3% ABS rate to the 5% clean up call. |
UNDERWRITING
The depositor and the underwriters named below have entered into an underwriting agreement for the notes referred to below. Subject to certain conditions, each underwriter has agreed to purchase the principal amount of the offered notes indicated in the following table:
| Class A-2 | Class A-3 | Class A-4 | ||||||||||
| Underwriters | Notes | Notes | Notes | |||||||||
| Banc of America Securities LLC | $ | 58,428,580 | $ | 115,000,000 | $ | 31,400,000 | ||||||
| BNP Paribas Securities Corp. | 58,428,580 | 115,000,000 | 31,400,000 | |||||||||
| Citigroup Global Markets Inc. | 58,428,580 | 115,000,000 | 31,400,000 | |||||||||
| J.P. Morgan Securities Inc. | 58,428,580 | 115,000,000 | 31,400,000 | |||||||||
| RBC Capital Markets Corporation | 58,428,560 | 115,000,000 | 31,400,000 | |||||||||
| Scotia Capital (USA) Inc. | 58,428,560 | 115,000,000 | 31,400,000 | |||||||||
| Wells Fargo Securities, LLC | 58,428,560 | 115,000,000 | 31,400,000 | |||||||||
| Total | $ | 409,000,000 | $ | 805,000,000 | $ | 219,800,000 | ||||||