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FREE WRITING PROSPECTUS
Dated September 21, 2021 | | Filed Pursuant to Rule 433
Registration No. 333-239650
Registration No. 333-239650-07 |
*PXG DETAILS* Carvana Auto Receivables Trust 2021-P3 (CRVNA 2021-P3)
ACTIVE BOOKRUNNERS (A-1 - N) : BNP Paribas (str), Citi, Wells Fargo
ACTIVE BOOKRUNNERS (R) : BNP Paribas (str), Baird, Credit Suisse
PASSIVE BOOKRUNNERS (A-1 - N) : Credit Suisse, DB
CO-MANAGER : Baird
Exp.Ratings
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
CLS | | | | AMT(MM) | | | Offered(MM) | | | WAL* | | | (K/S) | | | | PXD | | | | YLD | | | | CPN | | $PX | |
A-1 | | | | $ | 146.200 | | | $ | 138.890 | | | | 0.25 | | | K1+/A-1+ | | | | IntL+3 | | | | 0.15838 | | | | 0.15838 | | | 100.00000 | |
A-2 | | | | $ | 342.310 | | | $ | 325.194 | | | | 1.11 | | | AAA/AAA | | | | EDSF+21 | | | | 0.390 | | | | 0.38 | | | 99.98926 | |
A-3 | | | | $ | 342.310 | | | $ | 325.194 | | | | 2.57 | | | AAA/AAA | | | | IntS+24 | | | | 0.710 | | | | 0.70 | | | 99.97720 | |
A-4 | | | | $ | 125.000 | | | $ | 118.750 | | | | 3.94 | | | AAA/AAA | | | | IntS+27 | | | | 1.037 | | | | 1.03 | | | 99.98159 | |
B | | | | $ | 33.640 | | | $ | 31.958 | | | | 4.64 | | | AA+/AA | | | | IntS+55 | | | | 1.428 | | | | 1.42 | | | 99.98309 | |
C | | | | $ | 30.530 | | | $ | 29.003 | | | | 5.06 | | | A+/A | | | | IntS+100 | | | | 1.941 | | | | 1.93 | | | 99.98464 | |
D | | | | $ | 15.010 | | | $ | 14.259 | | | | 5.28 | | | BBB+/BBB | | | | IntS+130 | | | | 2.268 | | | | 2.25 | | | 99.96345 | |
N | | | | $ | 39.330 | | | $ | 37.363 | | | | 0.50 | ** | | BBB/BB+ | | | | EDSF+185 | | | | 2.008 | | | | 1.99 | | | 99.99528 | |
**R | | Privately Placed | |
| * | Based on 1.30 ABS Pricing Speed to 2% Call |
| ** | Based on Case 2 assumptions outlined in the Class N OM and Certificate PPMs attached |
-Deal Summary-
Rated Notes Issued Amount : $1.074bn+ *No Grow*
Rated Notes Offered Amount : $1.020bn+ *No Grow*
Exp. Pricing : Priced
Exp. Settle : 09/29/2021
Offering Format : A-1 - D: Public | N and R: 144A/Reg S
First Pay Date : 10/12/2021
ERISA : A-1 - D: Yes | N and R: No
Exp. Ratings : K/S
Min Denoms : A-1 - D: $1k x $1k
N: $1.00mm x $1k
R: 2.5k Unit x 1 Unit
BBG Ticker : CRVNA 2021-P3
Active Bookrunners (A-1 - N): BNP Paribas, Citibank, Wells Fargo
Passive Bookrunners (A-1 - N): CS, Deutsche Bank
Co-Manager: Baird
Active Bookrunners (R): BNP Paribas, Baird, CS
B&D: BNP Paribas
-Available Information-
| * | Preliminary Prospectus, Preliminary Class N OM, Preliminary Certificate PPM, FWP, CDI File and SSS File (attached). Investor presentation and performance data file are available on DealRoadshow |
| * | Intex Deal Name: bpcrvna21p3_mkt Password: V72Y |
| * | Link: https://dealroadshow.finsight.com/ Passcode: CRVNA2021P3 |
-CUSIPS-
A1: 14687JAC3 / A2: 14687JAD1 / A3: 14687JAE9 / A4: 14687JAF6 / B: 14687JAG4
C: 14687JAH2 / D: 14687JAJ8 / N: 14687JAA7 / R: 14687JAB5
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