Filed Pursuant to Rule 433
Registration Nos. 333-263473 and
333-263473-06
*PRICING DETAILS* Carvana Auto Receivables Trust 2024-P4 (CRVNA 2024-P4)
Joint Bookrunners: BNP Paribas (struc), Citi, SanCap
--ANTICIPATED CAPITAL STRUCTURE--
TOTAL OFFERED
| CLS | SIZE(MM) | OFFERED(MM) | WAL* | S/M | P.WIN* | E.FINAL* | L.FINAL | BENCH | SPRD | YLD (%) | CPN(%) | $PX | ||||||||||||||||||||||||||||||
| A-1 | $ | 68.570 | $ | 65.141 | 0.22 | A-1+/P-1 | 01-05 | 05/25 | 12/25 | I-Curve | +15 | 4.536 | 4.536 | 100.00000 | ||||||||||||||||||||||||||||
| A-2 | $ | 177.000 | $ | 168.150 | 0.99 | AAA/Aaa | 05-19 | 07/26 | 02/28 | I-Curve | +45 | 4.665 | 4.62 | 99.99984 | ||||||||||||||||||||||||||||
| A-3 | $ | 217.000 | $ | 206.150 | 2.40 | AAA/Aaa | 19-40 | 04/28 | 01/30 | I-Curve | +55 | 4.689 | 4.64 | 99.99146 | ||||||||||||||||||||||||||||
| A-4 | $ | 115.690 | $ | 109.905 | 3.94 | AAA/Aaa | 40-57 | 09/29 | 12/30 | I-Curve | +68 | 4.791 | 4.74 | 99.98626 | ||||||||||||||||||||||||||||
| B | $ | 16.250 | $ | 15.437 | 4.84 | AA+/Aa2 | 57-60 | 12/29 | 02/31 | I-Curve | +95 | 5.054 | 5.00 | 99.99332 | ||||||||||||||||||||||||||||
| C | $ | 20.000 | $ | 19.000 | 5.22 | A+/A2 | 60-66 | 06/30 | 05/31 | I-Curve | +105 | 5.160 | 5.10 | 99.97552 | ||||||||||||||||||||||||||||
| D | $ | 10.630 | $ | 10.098 | 5.48 | BBB/Baa1 | 66-66 | 06/30 | 12/32 | I-Curve | +155 | 5.668 | 5.60 | 99.98980 | ||||||||||||||||||||||||||||
| N^ | $ | 19.400 | $ | 18.430 | 0.28 | BB+/Ba1 | 01-07 | 07/25 | 12/32 | I-Curve | +155 | 5.940 | 5.86 | 99.99809 | ||||||||||||||||||||||||||||
| R^ | $ | 48.531 | $ | 46.104450 | ||||||||||||||||||||||||||||||||||||||
*Based on 1.30% ABS Pricing Speed to 2% Call
^Based on Case 2 assumptions outlined in the Class N OM and the Certificate PPM respectively.
--Transaction Details--
* Total Size: $644.540mm *NO GROW*
* Offered Size: $612.311mm *NO GROW*
* Ticker: CRVNA 2024-P4
* Expected Ratings: S&P/Moody's (A-N)
* Pricing Speed: 1.30% ABS Pricing Speed to 2% Call
* Offering Format: A-D: SEC / N: 144A/RegS
* Min. Denoms: A-D: $1k x $1k / N: $850K x $1k
* Expected Pxg: PRICED
* Expected Settle : 12/17/24
* First Pay : 01/10/25
* ERISA : A-D: Yes / N: No
* Bill & Deliver : BNP Paribas
--Available Materials--
* Preliminary Prospectus, Ratings FWP, Preliminary Class N OM, Preliminary Certificate PPM (attached)
* Intex CDI (attached)
* Intexnet : Dealname: bpcrvna24p4_mkt ; Password: 94V4
* Deal Roadshow : https://dealroadshow.com ; Entry Code (Case Sensitive): CRVNA24P4
--CRVNA 2024-P4 CUSIPs/ISINs--
Class A-1:
SEC: 14076L AA1 / US14076LAA17
Class A-2:
SEC: 14076L AB9 / US14076LAB99
Class A-3:
SEC: 14076L AC7 / US14076LAC72
Class A-4:
SEC: 14076L AD5 / US14076LAD55
Class B:
SEC: 14076L AE3 / US14076LAE39
Class C:
SEC: 14076L AF0 / US14076LAF04
Class D:
SEC: 14076L AG8 / US14076LAG86
Class N:
144A: 14076L AH6 / US14076LAH69
Reg S: U1384L AA2 / USU1384LAA27
Class R:
144A: 14076L AK9 / US14076LAK98
Reg S: U1384L AC8 / USU1384LAC82
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