FWP 1 a18-36499_8fwp.htm FWP

 

Free Writing Prospectus
Filed Pursuant to Rule 433
Dated October 16, 2018
Registration Statement Nos. 333-225949 and
333-225949-01

 

$1+ billion Ford Credit Auto Owner Trust (FORDO) 2018-B  (Prime Auto Loans)

 

Joint-Leads (active):  Barclays (str), Citi, SMBC Nikko

(passive):  Credit Agricole, Wells Fargo

Co-Managers: US Bank, Banco de Brasil

Selling Group: Drexel Hamilton, Loop, Williams

 

CLS

 

$AMT(MM)*

 

WAL

 

M/F

 

BENCH

 

SPREAD

 

YIELD

 

CPN

 

PRICE

 

A-1

 

205.000

 

0.26

 

P-1/F1+

 

iLiB

 

+5

 

2.50308%

 

2.50308%

 

100.00000

 

A-2a

 

275.000

 

1.01

 

Aaa/AAA

 

EDSF

 

+12

 

2.986%

 

2.96%

 

99.99252

 

A-2b

 

100.000

 

1.01

 

Aaa/AAA

 

1mL

 

+12

 

 

L+12

 

100.00000

 

A-3

 

317.000

 

2.25

 

Aaa/AAA

 

iSwp

 

+19

 

3.270%

 

3.24%

 

99.98290

 

A-4

 

102.980

 

3.35

 

Aaa/AAA

 

iSwp

 

+27

 

3.406%

 

3.38%

 

99.99349

 

B

 

31.580

 

3.56

 

Aa1/AA+

 

iSwp

 

 

 

 

 

 

 

 

C

 

21.050

 

3.56

 

Aa3/A+

 

iSwp

 

 

 

 

 

 

 

 

 

Expected Pricing

:

PRICED

 

Registration

:

Public / SEC Registered

Expected Settle

:

10/23/18

 

ERISA Eligible

:

Yes

First Payment

:

11/15/18

 

Pxg Speed

:

1.40% ABS to 10% Cleanup Call

Expected Ratings

:

Moody’s/Fitch

 

Min Denoms

:

$1k x $1k

Bill & Deliver

:

Barclays

 

Ticker

:

FORDO 2018-B

 


Available Information

:

 

 

 

 

 

* Preliminary Prospectus Supplement, FWP and Intex CDI (attached)

 

 

* Intexnet

:

bcgfordo_2018-b_preprice

 

Passcode: 4Y36

 

 

 

THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (the “SEC”) FOR THIS OFFERING.  BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS FOR THIS OFFERING 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 SEARCHING THE SEC ONLINE DATABASE (EDGAR®) AT WWW.SEC.GOV.  ALTERNATIVELY, YOU MAY OBTAIN A COPY OF THE PROSPECTUS FROM BARCLAYS CAPITAL INC. BY CALLING 1-888-603-5847.