0000929638-23-002688.txt : 20231004 0000929638-23-002688.hdr.sgml : 20231004 20231003185850 ACCESSION NUMBER: 0000929638-23-002688 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20231004 DATE AS OF CHANGE: 20231003 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BMW Vehicle Lease Trust 2023-2 CENTRAL INDEX KEY: 0001991884 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-260903-04 FILM NUMBER: 231305999 BUSINESS ADDRESS: STREET 1: 300 CHESTNUT RIDGE RD CITY: WOODCLIFF LAKE STATE: NJ ZIP: 07675 BUSINESS PHONE: 2013074000 MAIL ADDRESS: STREET 1: 300 CHESTNUT RIDGE RD CITY: WOODCLIFF LAKE STATE: NJ ZIP: 07675 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: BMW AUTO LEASING LLC CENTRAL INDEX KEY: 0001126530 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 300 CHESTNUT RIDGE RD CITY: WOODCLIFF LAKE STATE: NJ ZIP: 07675 BUSINESS PHONE: 2013074000 MAIL ADDRESS: STREET 1: 300 CHESTNUT RIDGE RD CITY: WOODCLIFF LAKE STATE: NJ ZIP: 07675 FWP 1 bmwlt2023-2_fwp.htm
Free Writing Prospectus
Filed Pursuant to Rule 433
Dated October 3, 2023
Registration Statement Nos. 333-260903 and 333-260903-04

*PRICING DETAILS* $1.25bn BMW Vehicle Lease Trust (BMWLT) 2023-2 Prime Auto Lease ABS

Issuer: BMW Vehicle Lease Trust (BMWLT)

Joint-Lead Managers: Societe Generale (str), JPM, SMBC

Co-Managers: HSBC, RBC

-Anticipated Capital Structure-

CLS
$AMT(MM)
WAL^
S/F**
P.WIN
E.FNL
L.FNL
BENCH
SPRD
YLD%
CPN%
$PX
A-1
187.500
0.26
A-1+/F1+
1-5
03/2024
10/2024
I-Curv
19
5.687
5.687
100.00000
A-2
468.750
0.87
AAA/AAA
5-15
01/2025
08/2025
I-Curv
53
6.030
5.95
99.99441
A-3
468.750
1.71
AAA/AAA
15-26
12/2025
09/2026
I-Curv
83
6.066
5.99
99.99797
A-4
125.000
2.35
AAA/AAA
26-29
03/2026
02/2027
I-Curv
99
6.061
5.98
99.98636
^ WAL to 100% PPC to Maturity
** Expected Ratings

-Transaction Details-
* Offered Size : $1.25bn
* BBG Ticker : BMWLT 2023-2
* Format : SEC Registered
* Speed : 100% PPC to Maturity
* Ratings : S&P, Fitch
* ERISA Eligible : Yes
* Risk Retention : US-Yes; EU-No
* Exp. Settle : October 11, 2023
* First Pay Date : November 27, 2023
* Min Denoms : $1k x $1k
* B&D : Societe Generale

-Available Materials-
* Preliminary Prospectus, Ratings FWP, and CDI : Attached
* Intex Deal Name : xbmwlt232 ; Password : 293A
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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 1-855-881-2108.