Filed pursuant to Rule 433(d)
Registration Nos. 333-264978 and 333-264978-03
FINAL TERM SHEET, dated February 22, 2023
$982,594,000
John Deere Owner Trust 2023
Issuing Entity
| $ | 252,000,000 | Class A-1 | 5.087% Asset Backed Notes | |||||
| $ | 348,000,000 | Class A-2 | 5.28% Asset Backed Notes | |||||
| $ | 318,000,000 | Class A-3 | 5.01% Asset Backed Notes | |||||
| $ | 64,594,000 | Class A-4 | 5.01% Asset Backed Notes |
John Deere Receivables LLC, Seller and Depositor
John Deere Capital Corporation, Sponsor and Servicer
| Class A-1 Notes(1) | Class A-2 Notes(1) | Class A-3 Notes(1) | Class A-4 Notes(1) | |||||
| Principal Amount | $252,000,000 | $348,000,000 | $318,000,000 | $64,594,000 | ||||
| Per Annum Interest Rate | 5.087% | 5.28% | 5.01% | 5.01% | ||||
| Final Scheduled Payment Date | March 15, 2024 | March 16, 2026 | November 15, 2027 | December 17, 2029 | ||||
| Initial Public Offering Price | 100.00000% | 99.99649% | 99.98178% | 99.97547% | ||||
| Ratings (Moody’s/Fitch) | P-1/F1+ | Aaa/AAA | Aaa/AAA | Aaa/AAA | ||||
| Payment Date | Monthly, beginning April 17, 2023 (subject to the business day convention) | Monthly, beginning April 17, 2023 (subject to the business day convention) | Monthly, beginning April 17, 2023 (subject to the business day convention) | Monthly, beginning April 17, 2023 (subject to the business day convention) | ||||
| Weighted Average Life(2) | 0.34 | 1.20 | 2.61 | 3.62 | ||||
| CUSIP | 47800C AA4 | 47800C AB2 | 47800C AC0 | 47800C AD8 |
| (1) | Subject to the considerations set forth in the preliminary prospectus, the Notes are generally eligible for purchase by or on behalf of employee benefit plans subject to the Employee Retirement Income Security Act of 1974, as amended, and other similar retirement plans and arrangements that are subject to Section 4975 of the Internal Revenue Code of 1986, as amended. |
| (2) | Pricing speed: 16% CPR (with a 10% clean-up call). |
Trade Date: February 22, 2023
Expected Settlement Date: March 2, 2023
Initial Note Value: $1,007,788,481.48 (discount rate: 8.30%)
Initial Overcollateralization Amount: $25,194,481
Initial Reserve Account Deposit: $10,077,884.81
Specified Reserve Account Balance: $10,077,884.81
| MUFG | BofA Securities | HSBC | RBC Capital Markets |
| Citigroup | TD Securities |
The Depositor 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 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 Depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-877-649-6848.
This free writing prospectus does not contain all information that is required to be included in the prospectus.
