FWP 1 c53229_fwp.htm c53229_fwp.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Filed pursuant to Rule 433(d)
Registration Statement No. 333- 131356-07

FINAL TERM SHEET, dated April 22, 2008

$730,502,000
USAA AUTO OWNER TRUST 2008-2
Issuing Entity
USAA Acceptance, LLC
Depositor

USAA FEDERAL SAVINGS BANK
Sponsor, Seller and Servicer

The issuing entity will own motor vehicle loans originated by USAA Federal Savings Bank and will issue the following classes of USAA Auto Owner Trust 2008-2 Asset Backed Notes:

    Class A-1   Class A-2   Class A-3   Class A-4   Class B
    Notes(2)(3)             Notes(3)             Notes(3)             Notes(3)             Notes(2)(4)
Principal                    
   Amount   $242,000,000   $250,000,000   $347,000,000   $133,502,000   $27,499,000
Per Annum                    
   Interest                    
   Rate   2.996%   3.91%   4.64%   5.16%   8.30%
Final                    
   Scheduled                    
   Payment                    
   Date   Nov. 16, 2009   Jan. 18, 2011   Oct. 15, 2012   Nov. 15, 2013   Oct. 15, 2014
Initial Public                    
   Offering                    
   Price   100.00000%   99.99709%   99.98636%   99.97302%   99.99733%
Ratings                    
   (Moody’s/S&P)   Aaa/AAA   Aaa/AAA   Aaa/AAA   Aaa/AAA   N/A/BBB
Payment Date   Monthly, beginning   Monthly, beginning   Monthly, beginning   Monthly, beginning   Monthly, beginning
    May 15, 2008   May 15, 2008   May 15, 2008   May 15, 2008   May 15, 2008
    (subject to the   (subject to the   (subject to the   (subject to the   (subject to the
    business day   business day   business day   business day   business day
    convention)   convention)   convention)   convention)   convention)
Weighted Average                    
   Life(1)   0.33   1.05   2.15   3.29   3.38
CUSIP   90327A AA2   90327A AB0   90327A AC8   90327A AD6   90327A AE4

(1)      Pricing speed: 1.6% ABS (with a 10% clean-up call).

(2)      Not publicly offered.

(3)      The Class A Notes are generally eligible for purchase by or on behalf of employee benefit plans and other similar retirement plans and arrangements that are subject to ERISA or to Section 4975 of the Code.

(4)      The Class B Notes may not be acquired by, on behalf of or with assets of an employee benefit plan or individual retirement account except by certain insurance company general accounts that are able to make the representations and warranties set forth in the Indenture.
Trade Date: April 22, 2008

 


Settlement Date: April 29, 2008  
 
Joint Global Coordinators of the Class A Notes  
Banc of America Securities LLC Citi
Co-Managers of the Class A Notes  
 
Barclays Capital  
                                                             BNP PARIBAS  
                                                                                                                         Deutsche Bank Securities  
  JPMorgan

     The Depositor 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 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 1-800-294-1322.

     This free writing prospectus does not contain all information that is required to be included in the base prospectus and the prospectus supplement.