Filed pursuant to Rule 433(d)
Registration Nos. 333-264978 and 333-264978-05
FINAL TERM SHEET, dated September 12, 2023
$1,272,790,000
John Deere Owner Trust 2023-C
Issuing Entity
| | | |
$ | 321,000,000 | Class A-1 | 5.650% Asset Backed Notes |
$ | 430,000,000 | Class A-2 | 5.76% Asset Backed Notes |
$ | 430,000,000 | Class A-3 | 5.48% Asset Backed Notes |
$ | 91,790,000 | Class A-4 | 5.39% 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 | $321,000,000 | $430,000,000 | $430,000,000 | $91,790,000 |
Per Annum Interest Rate | 5.650% | 5.76% | 5.48% | 5.39% |
Final Scheduled Payment Date | September 16, 2024 | August 17, 2026 | May 15, 2028 | August 15, 2030 |
Initial Public Offering Price | 100.00000% | 99.99330% | 99.99313% | 99.97757% |
Ratings (Moody’s/Fitch) | P-1/F1+ | Aaa/AAA | Aaa/AAA | Aaa/AAA |
Payment Date | Monthly, beginning October 16, 2023 (subject to the business day convention) | Monthly, beginning October 16, 2023 (subject to the business day convention) | Monthly, beginning October 16, 2023 (subject to the business day convention) | Monthly, beginning October 16, 2023 (subject to the business day convention) |
Weighted Average Life(2) | 0.30 | 1.13 | 2.52 | 3.57 |
CUSIP | 47787C AA1 | 47787C AB9 | 47787C AC7 | 47787C AD5 |
| 16% CPR (with a 10% clean-up call). |
| (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: September 12, 2023 |
| Expected Settlement Date: September 19, 2023 |
| Initial Note Value: $1,305,429,409.59 (discount rate: 9.05%) |
| Initial Overcollateralization Amount: $32,639,410 |
| Initial Reserve Account Deposit: $13,054,294.10 |
| Specified Reserve Account Balance: $13,054,294.10 |
| | | |
RBC Capital Markets | Citigroup | Credit Agricole Securities | TD Securities |
Barclays | MUFG |
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 1-866-375-6829.
This free writing prospectus does not contain all information that is required to be included in the prospectus.
