Free Writing Prospectus
Filed Pursuant to Rule 433
Dated January 18, 2023
Registration Statement Nos. 333-265473 and
333-265473-03
*FULL PRICING DETAILS* $1.5+ billion Ford (FORDL) 2023-A (Prime Auto Lease)
Active Lead Managers : RBC (str), SocGen, Wells Fargo
Passive Lead Managers : GS, MUFG
Passive Co-Managers : US Bancorp, Santander
Active Co-Managers : Drexel Hamilton, R. Seelaus
- Anticipated Capital Structure -
CLS | AMT ($MM) | WAL# | F/S | P-WIN | E-FIN | L-FIN | BENCH | SPRD | YLD% | CPN% | $PX |
| A-1 | 198.00 | 0.30 | F1+/A-1+ | 1-7 | 08/23 | 02/24 | I-CRV + | 26 | 4.959 | 4.959 | 100.00000 |
| A-2a | 300.00 | 1.03 | AAA/AAA | 7-17 | 06/24 | 06/25 | I-CRV + | 65 | 5.256 | 5.19 | 99.99085 |
| A-2b | 182.50 | 1.03 | AAA/AAA | 7-17 | 06/24 | 06/25 | SOFR30A + | 65 | 100.00000 | ||
| A-3 | 482.50 | 1.76 | AAA/AAA | 17-26 | 03/25 | 03/26 | I-CRV + | 79 | 4.992 | 4.94 | 99.99872 |
| A-4 | 87.00 | 2.24 | AAA/AAA | 26-28 | 05/25 | 05/26 | I-CRV + | 89 | 4.887 | 4.83 | 99.98329 |
| B | 86.79 | 2.37 | AA/AA | 28-29 | 06/25 | 06/26 | I-CRV + | 140 | 5.353 | 5.29 | 99.99073 |
| C | 107.07 | 2.51 | A/A | 29-31 | 08/25 | 12/26 | I-CRV + | 170 | 5.605 | 5.54 | 99.99869 |
| D | 64.89 | 2.62 | BBB/BBB | 31-32 | 09/25 | 09/27 | I-CRV + | Retained | |||
# WAL assumes 100% PPC to Maturity
| Expected Pricing | : *PRICED* | Offered Amount | : $1,508,750,000 |
| Expected Settle | : 01/23/23 | Registration | : Public/SEC-registered |
| First Pmt Date | : 02/15/23 | ERISA Eligible | : Yes |
| Expected Ratings | : Fitch and S&P | RR Compliance | : US-Yes, EU-No |
| Bloomberg Ticker | : FORDL 2023-A | Pricing Speed | : 100% PPC to Maturity |
| Bloomberg SSAP | : "FORDL2023A" | Min Denoms | : $1k x $1k |
| Bill & Deliver | : RBC |
| ---------- CUSIPs ---------- ISINs ------------ | |||
| A-1 | 345287AA4 | US345287 AA43 | |
| A-2a | 345287AB2 | US345287 AB26 | |
| A-2b | 345287AC0 | US345287 AC09 | |
| A-3 | 345287AD8 | US345287 AD81 | |
| A-4 | 345287AE6 | US345287 AE64 | |
| B | 345287AF3 | US345287 AF30 | |
| C | 345287AG1 | US345287 AG13 | |
| D | 345287AH9 | US345287 AH95 | |
| ---------------------------------------------------- | |||
| --- Available Materials --- | |||
| Preliminary Prospectus, FWP and Intex CDI (attached) | |||
| Investor presentation: www.dealroadshow.com; password "FORDL2023A" | |||
| Intexnet dealname: "RBCFCAT23A_LARGE"; password "V4VJ" | |||
_______________________
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.