Free Writing Prospectus
Filed Pursuant to Rule 433
Dated March 28, 2023
Registration Statement Nos. 333-258040 and
333-258040-05
*PRICING DETAILS* $1.578+ billion Ford Credit Auto Owner Trust (FORDO) 2023-A
Active Lead Managers : BNP Paribas (str), Deutsche Bank, Mizuho
Passive Lead Managers : Barclays, Scotia
Co-Managers : Santander, Truist
Active D&I Co-Managers : Blaylock, Multi-Bank Securities
- Anticipated Capital Structure -
CLS | AMT ($MM)* | WAL# | S/F | P-WIN | E-FIN | L-FIN | BENCH^ | SPRD | YLD% | CPN% | PRICE |
| A-1 | 300.00 | 0.24 | A-1+/F1+ | 1-6 | 09/23 | 04/24 | I-CRV + | 40 | 5.028 | 5.028 | 100.00000 |
| A-2a | 359.00 | 1.05 | AAA/AAA | 6-21 | 12/24 | 03/26 | I-CRV + | 72 | 5.199 | 5.14 | 99.99661 |
| A-2b | 235.00 | 1.05 | AAA/AAA | 6-21 | 12/24 | 03/26 | SOFR30A + | 72 | 100.00000 | ||
| A-3 | 510.00 | 2.43 | AAA/AAA | 21-41 | 08/26 | 02/28 | I-CRV + | 75 | 4.700 | 4.65 | 99.98957 |
| A-4 | 96.00 | 3.57 | AAA/AAA | 41-44 | 11/26 | 12/28 | I-CRV + | 83 | 4.613 | 4.56 | 99.96966 |
| B | 47.33 | 3.63 | AA+/AA+ | 44 | 11/26 | 01/29 | I-CRV + | 135 | 5.127 | 5.07 | 99.99004 |
| C | 31.61 | 3.63 | AA-/A+ | 44 | 11/26 | 09/30 | I-CRV + | 180 | 5.577 | 5.51 | 99.98949 |
# WAL assumes 1.3% ABS and 10% Clean Up Call
^ Bloomberg GC I25; "Interpolate Curves"; "Mid YTM"
| Expected Pricing | : PRICED | Offered Amount | : $1,578,940,000 |
| Expected Settle | : 03/31/23 | Registration | : Public/SEC-registered |
| First Pmt Date | : 04/17/23 | ERISA Eligible | : Yes |
| Expected Ratings | : S&P / Fitch | RR Compliance | : US-Yes, EU-No |
| Bloomberg Ticker | : FORDO 2023-A | Pricing Speed | : 1.3% ABS to 10% Clean Up Call |
| Bloomberg SSAP | : "FORDO2023A" | Min Denoms | : $1k x $1k |
| Bill & Deliver | : BNPP | ||
| ---------- CUSIPs ---------- ISINs ------------ | |||
| A-1 344928 AA4 US344928 AA41 | |||
| A-2a 344928 AB2 US344928 AB24 | |||
| A-2b 344928 AC0 US344928 AC07 | |||
| A-3 344928 AD8 US344928 AD89 | |||
| A-4 344928 AE6 US344928 AE62 | |||
| B 344928 AF3 US344928 AF38 | |||
| C 344928 AG1 US344928 AG11 | |||
| ---------------------------------------------------- | |||
| --- Available Materials --- | |||
| Preliminary Prospectus, FWP and Intex CDI (attached) | |||
| Intexnet dealname: bpfordo23a ; password: KUYK | |||
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