Free Writing Prospectus
Filed Pursuant to Rule 433
Dated May 11, 2015
Registration Statement No. 333-183223
Free Writing Prospectus dated May 11, 2015
Honda Auto Receivables 2015-2 Owner Trust,
Issuing Entity
American Honda Receivables LLC,
Depositor
American Honda Finance Corporation,
Sponsor, Originator, Servicer and Administrator
$750,000,000 ASSET BACKED NOTES, Series 2015-2
The depositor has prepared a preliminary prospectus supplement dated May 11, 2015 and prospectus dated May 11, 2015 which describe the notes issued by the issuing entity. You should review the preliminary prospectus supplement and the prospectus in their entirety before deciding to purchase any of the notes.
Ratings
The depositor expects that the class A-2 notes, the class A-3 notes and the class A-4 notes (the “underwritten notes”) issued by the issuing entity will receive the indicated ratings from Standard & Poor’s Ratings Services, a Standard & Poor’s Financial Services LLC business (“S&P”) and Fitch Ratings, Inc. (“Fitch” and together with S&P, the “rating agencies”) listed below.
S&P |
Fitch | |
Class A-2 Notes | AAA(sf) | AAAsf |
Class A-3 Notes | AAA(sf) | AAAsf |
Class A-4 Notes | AAA(sf) | AAAsf |
It is a condition to the issuance of the notes that each of the underwritten notes receives the ratings listed above.
The ratings of the underwritten notes address the likelihood of the payment of principal and interest on the underwritten notes according to their terms. Each rating agency rating the underwritten notes will monitor the ratings using its normal surveillance procedures. Any rating agency may change or withdraw an assigned rating at any time. Any rating action taken by one rating agency may not necessarily be taken by the other rating agency.
None of the sponsor, depositor, servicer, administrator, indenture trustee, owner trustee, Delaware trustee or any of their affiliates will be required to monitor any changes to the ratings on these underwritten notes.
A security rating is not a recommendation to buy, sell or hold underwritten notes. The ratings of the underwritten notes address the likelihood of the payment of principal and interest on the underwritten notes in accordance with their terms. A rating agency may subsequently lower or withdraw its rating of any class of the underwritten notes. If this happens, no person or entity will be obligated to provide any additional credit enhancement for the underwritten notes.
Joint Bookrunners of the Underwritten Notes
J.P. Morgan | BNP PARIBAS | SOCIETE GENERALE |
Co-Managers of the Underwritten Notes
Barclays | HSBC | Lloyds Securities | RBC Capital Markets |
The depositor has filed a registration statement (including a prospectus supplement and prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus supplement and 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 web site 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 at 1-866-669-7629.