Filed Pursuant to Rule 433
Registration Nos. 333-257355 and 333-257355-01
*PRICING YIELD* $750mm Synchrony (SYNIT 2023-A2) Credit Card ABS
Joint Bookrunners: RBC (str), Citi, TD
DE&I Co-Managers: Mischler, Siebert Williams
Co-Managers: Barclays, SocGen, Wells
-ANTICIPATED CAPITAL STRUCTURE-
| CLS | SIZE(mm) | WAL | S&P/Moodys | E.FNL | L.FNL | BENCH | SPRD | YIELD | CPN | PRICE |
| A | 750.000 | 2.92 | AAA/Aaa | 10/26 | 10/29 | I-CRV | +110 | 5.816% | 5.74% | 99.98190 |
-TRANSACTION DETAILS-
| Expected Pricing : PRICED | Offered Size : $750,000,000 |
| Expected Settlement: 11/15/2023 | Format : SEC Registered |
| First Payment Date : 12/15/2023 | ERISA Eligible: Yes |
| Expected Ratings : S&P / Moodys | RR Compliance : US – Yes, EU - Yes |
| Bloomberg Ticker : SYNIT 2023-A2 | Min Denoms : $10k x $1k |
| Bloomberg SSAP : SYNIT2023A2 | CUSIP : 87166P AL5 |
| Bill & Deliver : RBC |
-MARKETING MATERIALS-
Preliminary Prospectus, Free Writing Prospectus (attached)
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 1 866 375-6829.
