0000929638-21-000410.txt : 20210224 0000929638-21-000410.hdr.sgml : 20210224 20210224170731 ACCESSION NUMBER: 0000929638-21-000410 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210224 DATE AS OF CHANGE: 20210224 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BMW Vehicle Lease Trust 2021-1 CENTRAL INDEX KEY: 0001845317 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-227645-03 FILM NUMBER: 21674667 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 a20210230_fwp.htm

Free Writing Prospectus
Filed Pursuant to Rule 433
Registration Statement Nos. 333-227645 and 333-227645-03

 
BMW AUTO LEASING LLC 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 THE OTHER DOCUMENTS BMW AUTO LEASING LLC HAS FILED WITH THE SEC FOR MORE COMPLETE INFORMATION ABOUT BMW AUTO LEASING LLC, BMW VEHICLE LEASE TRUST 2021-1 AND THIS OFFERING.  YOU MAY GET THESE DOCUMENTS FOR FREE BY VISITING EDGAR ON THE SEC WEB SITE AT WWW.SEC.GOV.  ALTERNATIVELY, BMW AUTO LEASING LLC, ANY UNDERWRITER OR ANY DEALER PARTICIPATING IN THE OFFERING WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY CALLING 1-866-271-7403.
 
Free Writing Prospectus dated February 24, 2021

 
$1,250,000,000
Asset-Backed Notes
BMW Vehicle Lease Trust 2021-1
Issuing Entity
(CIK Number: 0001845317)
BMW Auto Leasing LLC
Depositor
(CIK Number: 0001126530)
BMW Financial Services NA, LLC
Sponsor, Servicer and Administrator
(CIK Number: 0001541188)

 
The depositor has prepared a preliminary prospectus dated February 24, 2021 which describes the notes to be issued by the issuing entity. You should review such preliminary prospectus in its entirety before deciding to purchase any of the notes.
 
Ratings
 
It is a condition to the issuance of the notes that, on the closing date, they receive at least the indicated ratings from Moody’s Investors Service, Inc. (“Moody’s”) and S&P Global Ratings (“S&P” and, together with Moody’s, the “rating agencies”), listed below.
 
 
Moody’s
  
S&P
Class A-1 Notes
P-1 (sf)
  
A-1+ (sf)
Class A-2 Notes
Aaa (sf)
  
AAA (sf)
Class A-3 Notes
Aaa (sf)
  
AAA (sf)
Class A-4 Notes
Aaa (sf)
  
AAA (sf)

 
A security rating is not a recommendation to buy, sell or hold notes. The ratings of the notes address the likelihood of the payment of principal and interest on the notes according to their terms.  Each rating agency rating the notes will monitor the ratings using its normal surveillance procedures.  Any rating agency may change or withdraw its assigned rating at any time. If this happens, no person or entity will be obligated to provide any additional credit enhancement for the notes. Any rating action taken by one rating agency may not necessarily be taken by the other rating agency.
 
None of the sponsor, the depositor, the servicer, the administrator, the indenture trustee, the owner trustee, the asset representations reviewer or any of their affiliates will be required to monitor any changes to the ratings on these notes.

 
Joint Bookrunners
 
Mizuho Securities
BofA Securities
SOCIETE GENERALE
 
Co-Managers
 
Credit Agricole Securities
TD Securities