0001193125-12-428785.txt : 20121019 0001193125-12-428785.hdr.sgml : 20121019 20121019164700 ACCESSION NUMBER: 0001193125-12-428785 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20121017 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20121019 DATE AS OF CHANGE: 20121019 FILER: COMPANY DATA: COMPANY CONFORMED NAME: NISSAN AUTO LEASING LLC II CENTRAL INDEX KEY: 0001244832 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 954885574 STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-106763 FILM NUMBER: 121152860 BUSINESS ADDRESS: STREET 1: ONE NISSAN WAY, ROOM 5-124 CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 6157251127 MAIL ADDRESS: STREET 1: ONE NISSAN WAY, ROOM 5-124 CITY: FRANKLIN STATE: TN ZIP: 37067 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Nissan Auto Lease Trust 2012-B CENTRAL INDEX KEY: 0001559166 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 333-170956-05 FILM NUMBER: 121152861 BUSINESS ADDRESS: STREET 1: ONE NISSAN WAY, ROOM 5-124 CITY: FRANKLIN STATE: TN ZIP: 37067 BUSINESS PHONE: 6157251127 MAIL ADDRESS: STREET 1: ONE NISSAN WAY, ROOM 5-124 CITY: FRANKLIN STATE: TN ZIP: 37067 8-K 1 d427113d8k.htm 8-K 8-K

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 17, 2012

 

 

NISSAN AUTO LEASE TRUST 2012-B

(Exact name of Issuing Entity as specified in its charter with respect to the Notes)

 

 

NISSAN AUTO LEASING LLC II

(Exact name of Depositor as specified in its charter and Transferor of the SUBI Certificate to the Issuing Entity)

 

 

NISSAN-INFINITI LT

(Exact name of Issuer as specified in its charter with respect to the SUBI Certificate)

 

 

 

Delaware   333-170956-05   38-7057979

(State or Other Jurisdiction

of Incorporation of Issuing Entity)

  

(Commission

File Number of Issuing Entity)

  

(IRS Employer

Identification No. of Issuing Entity)

 

ONE NISSAN WAY

ROOM 5-124

FRANKLIN, TENNESSEE

   37067
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (615) 725-1127

None

(Former Name or Former Address, if Changed Since Last Report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2 (b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4 (c))

 

 

 

ITEM 8.01. OTHER EVENTS.

The registrant has filed a final prospectus supplement, dated October 17, 2012, setting forth a description of the pool of closed-end Nissan and Infiniti leases, the related Nissan and Infiniti leased vehicles and related assets and the structure of $107,000,000 aggregate principal amount of the Class A-1 Asset Backed Notes, $143,000,000 aggregate principal amount of the Class A-2a Asset Backed Notes, $196,000,000 aggregate principal amount of the Class A-2b Asset Backed Notes, $214,000,000 aggregate principal amount of the Class A-3 Asset Backed Notes, and $90,000,000 aggregate principal amount of the Class A-4 Asset Backed Notes by Nissan Auto Lease Trust 2012-B.

The tables attached hereto as exhibit 99.1 set forth information regarding the composition of receivables in the pool as of September 30, 2012, the cut-off date.

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

(a) Not applicable.

(b) Not applicable.

(c) Not applicable.

(d) Exhibits

The exhibit number corresponds with Item 601(a) of Regulation S-K.

 

Exhibit No.

   

Description

Exhibit 99.1    Distribution Tables of Composition of Receivables as of September 30, 2012 (the Cut-off Date)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on behalf of the undersigned thereunto duly authorized.

 

NISSAN AUTO LEASING LLC II
By:  

/s/ Shishir Bhushan

  Name:   Shishir Bhushan
  Title:   Treasurer

Date: October 19, 2012

EXHIBIT INDEX

Item 601(a) of Regulation S-K

 

Exhibit No.

   

Description

Exhibit 99.1    Distribution Tables of Composition of Receivables as of September 30, 2012 (the Cut-Off Date)
 EX-99.1 2 d427113dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

Distribution Tables of Composition of Receivables as of September 30, 2012 (the Cut-off Date)

Set forth below is information as of September 30, 2012 (the “Cut-off Date”) regarding the characteristics of the final pool of receivables to be sold to Nissan Auto Lease Trust 2012-B on or about October 24, 2012. This information is being filed for informational purposes only. There is no material variance between the characteristics of the receivables in the statistical pool described in the prospectus supplement and the receivables in the pool as of the Cut-off Date.

Characteristics of Receivables as of the Cut-off Date:

 

     Average     Minimum      Maximum  

Securitization Value

    $ 22,531.82      $ 8,255.90       $ 75,484.26   

Base Residual

    $ 15,637.65      $ 5,383.50       $ 55,654.20   

Seasoning (Months)(1)(2)

      11        2         46   

Remaining Term (Months)(1)

      28        12         58   

Original Term (Months)(1)

      39        24         60   

Discounted Base Residual as a % of Securitization Value

      58.91 %      

Base Residual as a % of MSRP

      49.22 %      

Percentage of Securitization Value Financed

      Nissan 76.06 %      

through Nissan or Infiniti Dealers

      Infiniti 23.94 %      

 

(1) 

Weighted average by Securitization Value as of the Cut-off Date.

(2) 

Seasoning is the number of months elapsed since origination of a Lease.

FICO® Score Distribution of the Receivables

 

FICO® Score Range

    Number
of Leases		      Percentage of
Total Number of
Leases(1) 		    Aggregate
Securitization
Value(1) 		     Percentage of
Aggregate
Securitization
Value(1) 		 

600

      32         0.08 %    $ 742,144.94         0.08 % 

601 - 650

      3,115         7.77        70,539,233.32         7.81   

651 - 700

      8,070         20.12        180,314,071.67         19.95   

701 - 750

      10,093         25.17        226,455,025.85         25.06   

751 - 800

      8,862         22.10        201,548,921.65         22.30   

801 - 850

      8,892         22.17        200,866,934.51         22.23   

851 - 900

      1,040         2.59        23,149,941.71         2.56   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Balances and percentages may not add to total due to rounding.

Distribution of the Leased Vehicles by Model

 

Models

    Number
of Leases		      Percentage of
Total Number of
Leases(1)		     Aggregate
Securitization
Value(1)		      Percentage of
Aggregate
Securitization
Value(1)		  

Altima

      11,040         27.53 %    $ 202,820,511.29         22.45 % 

Maxima

      4,844         12.08        124,593,512.47         13.79   

Rogue

      6,245         15.57        121,814,243.18         13.48   

G37

      3,457         8.62        109,838,674.65         12.16   

Murano

      2,854         7.12        71,919,472.97         7.96   

Sentra

      3,909         9.75        59,778,098.11         6.62   

M37

      669         1.67        25,625,886.21         2.84   

QX56

      491         1.22        24,761,511.36         2.74   

Frontier

      1,106         2.76        23,905,688.60         2.65   

G25

      731         1.82        18,703,629.04         2.07   

Pathfinder

      745         1.86        17,728,053.75         1.96   

FX35

      505         1.26        16,988,562.51         1.88   

Altima Coupe

      806         2.01        16,773,494.55         1.86   

Armada

      452         1.13        14,664,583.75         1.62   

JX35

      249         0.62        10,691,165.42         1.18   

Quest

      302         0.75        7,694,757.56         0.85   

Versa

      571         1.42        7,422,314.71         0.82   

Juke

      354         0.88        6,865,588.03         0.76   

EX35

      236         0.59        6,783,096.55         0.75   

370Z

      203         0.51        6,103,404.30         0.68   

Xterra

      203         0.51        4,117,020.31         0.46   

M56

      32         0.08        1,420,904.08         0.16   

M35

      23         0.06        994,795.88         0.11   

Cube

      51         0.13        695,783.22         0.08   

FX50

      12         0.03        495,989.41         0.05   

Titan

      12         0.03        299,015.75         0.03   

GT-R

      2         0.00 (2)      116,515.98         0.01   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Balances and percentages may not add to total due to rounding.

(2) 

Less than 0.005% but greater than 0.000%.

Distribution of the Leased Vehicles by Vehicle Type

 

Vehicle Type

    Number
of Leases		      Percentage of
Total Number of
Leases(1)		     Aggregate
Securitization
Value(1)		      Percentage of
Aggregate
Securitization
Value(1)		  

Car

      26,640         66.43 %    $ 582,582,282.05         64.47 % 

Crossover

      10,455         26.07        235,558,118.07         26.07   

SUV

      1,891         4.72        61,271,169.17         6.78   

Truck

      1,118         2.79        24,204,704.35         2.68   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Balances and percentages may not add to total due to rounding.

Distribution of the Leases by Original Lease Term (Month)

 

Original Lease Term (Months)

    Number
of Leases		      Percentage of
Total Number of
Leases(1)		     Aggregate
Securitization
Value(1)		      Percentage of
Aggregate
Securitization
Value(1)		  

24 - 36

      1,627         4.06 %    $ 33,154,156.27         3.67 % 

37 - 42

      38,172         95.18        860,085,364.60         95.18   

43 - 48

      165         0.41        5,542,779.94         0.61   

49 - 60

      140         0.35        4,833,972.84         0.53   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Balances and percentages may not add to total due to rounding.

Distribution of the Leases by Remaining Lease Term

 

Remaining Lease Term (Months)

    Number
of Leases		      Percentage of
Total Number of
Leases(1)		     Aggregate
Securitization
Value(1)		      Percentage of
Aggregate
Securitization
Value(1)		  

12

      192         0.48 %    $ 3,671,384.85         0.41 % 

13 - 18

      2,341         5.84        49,328,841.65         5.46   

19 - 24

      9,805         24.45        211,428,514.03         23.40   

25 - 30

      14,570         36.33        324,075,092.90         35.86   

31 - 36

      11,787         29.39        280,620,508.53         31.06   

37 - 42

      1,291         3.22        30,040,930.87         3.32   

43 - 48

      50         0.12        1,799,499.19         0.20   

49 - 54

      43         0.11        1,704,934.26         0.19   

55 - 60

      25         0.06        946,567.36         0.10   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Balances and percentages may not add to total due to rounding.

Distribution of the Leases by Quarter of Maturity Date

 

Quarter of Maturity Date

    Number
of Leases		      Percentage of
Total Number of
Leases(1)		     Aggregate
Securitization
Value(1)		      Percentage of
Aggregate
Securitization
Value(1) 		    Aggregate
Base Residual(1)		      Percentage  of
Aggregate
Base
Residual(1)		  

Fourth Quarter 2013

      657         1.64 %    $ 13,020,510.83         1.44 %    $ 10,642,803.58         1.70 % 

First Quarter 2014

      1,305         3.25        27,285,375.27         3.02        21,638,882.30         3.45   

Second Quarter 2014

      4,031         10.05        85,891,341.80         9.51        65,589,881.40         10.46   

Third Quarter 2014

      4,735         11.81        102,803,457.11         11.38        75,022,633.43         11.96   

Fourth Quarter 2014

      6,601         16.46        144,357,842.89         15.98        101,576,749.98         16.20   

First Quarter 2015

      7,392         18.43        165,264,571.32         18.29        114,084,668.63         18.19   

Second Quarter 2015

      6,044         15.07        142,595,528.02         15.78        96,719,442.49         15.42   

Third Quarter 2015

      6,015         15.00        142,935,633.46         15.82        92,759,782.87         14.79   

Fourth Quarter 2015

      3,145         7.84        72,692,748.46         8.04        45,775,617.34         7.30   

First Quarter 2016

      50         0.12        1,789,770.59         0.20        991,734.35         0.16   

Second Quarter 2016

      27         0.07        1,194,798.06         0.13        621,090.40         0.10   

Third Quarter 2016

      25         0.06        719,616.77         0.08        381,002.00         0.06   

Fourth Quarter 2016

      33         0.08        1,311,133.36         0.15        583,637.60         0.09   

First Quarter 2017

      14         0.03        536,946.74         0.06        222,012.30         0.04   

Second Quarter 2017

      18         0.04        811,564.59         0.09        346,275.85         0.06   

Third Quarter 2017

      12         0.03        405,434.37         0.04        176,144.20         0.03   
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 %    $ 627,132,358.72         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Balances and percentages may not add to total due to rounding.

Distribution of the Leases by Geographic Location

 

Geographic Location

    Number
of  Leases(1)		      Percentage of
Total Number of
Leases(1)(2)		     Aggregate
Securitization
Value(1)(2)		      Percentage of
Aggregate
Securitization
Value(1)(2) 		 

New Jersey

      4,302         10.73 %    $ 89,463,861.27         9.90 % 

Florida

      4,016         10.01        83,364,944.34         9.23   

California

      3,266         8.14        79,358,854.39         8.78   

New York

      3,708         9.25        71,385,803.66         7.90   

Pennsylvania

      2,940         7.33        65,065,713.94         7.20   

Texas

      2,344         5.84        62,507,632.29         6.92   

Ohio

      2,586         6.45        57,036,720.98         6.31   

Massachusetts

      1,996         4.98        43,701,487.10         4.84   

Connecticut

      1,677         4.18        36,828,747.78         4.08   

Illinois

      1,474         3.68        36,514,301.04         4.04   

Georgia

      868         2.16        21,873,938.37         2.42   

Michigan

      965         2.41        21,808,052.05         2.41   

Minnesota

      948         2.36        21,095,572.16         2.33   

North Carolina

      667         1.66        16,783,667.99         1.86   

Virginia

      625         1.56        15,808,531.54         1.75   

Indiana

      697         1.74        15,265,122.25         1.69   

Wisconsin

      674         1.68        14,641,394.81         1.62   

Maryland

      517         1.29        14,640,030.82         1.62   

Arizona

      489         1.22        11,936,864.43         1.32   

Colorado

      468         1.17        10,591,717.68         1.17   

New Hampshire

      477         1.19        10,078,187.79         1.12   

Missouri

      389         0.97        9,341,423.45         1.03   

Iowa

      387         0.96        8,478,613.71         0.94   

Tennessee

      306         0.76        8,229,244.24         0.91   

Louisiana

      269         0.67        7,180,115.41         0.79   

Nevada

      305         0.76        6,851,917.37         0.76   

Rhode Island

      310         0.77        6,554,555.59         0.73   

Washington

      227         0.57        6,038,102.09         0.67   

South Carolina

      227         0.57        5,273,774.38         0.58   

Kentucky

      231         0.58        5,071,017.05         0.56   

Alabama

      187         0.47        4,437,768.79         0.49   

Nebraska

      190         0.47        4,228,900.59         0.47   

Kansas

      169         0.42        3,977,277.61         0.44   

Maine

      191         0.48        3,941,754.46         0.44   

Utah

      142         0.35        3,495,495.08         0.39   

Delaware

      142         0.35        3,248,860.73         0.36   

Vermont

      110         0.27        2,234,291.04         0.25   

Hawaii

      94         0.23        2,225,205.99         0.25   

Mississippi

      86         0.21        2,064,549.05         0.23   

Oregon

      77         0.19        2,025,568.34         0.22   

Oklahoma

      61         0.15        1,790,804.00         0.20   

West Virginia

      61         0.15        1,404,120.35         0.16   

North Dakota

      53         0.13        1,177,280.67         0.13   

South Dakota

      45         0.11        983,592.88         0.11   

New Mexico

      36         0.09        981,580.20         0.11   

District of Columbia

      33         0.08        911,986.10         0.10   

Arkansas

      25         0.06        685,288.66         0.08   

Idaho

      21         0.05        421,506.55         0.05   

Wyoming

      15         0.04        344,885.93         0.04   

Montana

      11         0.03        265,646.63         0.03   
  

 

 

     

 

 

    

 

 

     

 

 

  

Total

      40,104         100.00 %    $ 903,616,273.65         100.00 % 
  

 

 

     

 

 

    

 

 

     

 

 

  

Based on a Securitization Rate of 7.00%.

 

(1) 

Based on the billing addresses of lessees.

(2) 

Balances and percentages may not add to total due to rounding.