0001104659-23-118314.txt : 20231115 0001104659-23-118314.hdr.sgml : 20231115 20231114202937 ACCESSION NUMBER: 0001104659-23-118314 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20231115 DATE AS OF CHANGE: 20231114 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC CENTRAL INDEX KEY: 0001182534 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 113650483 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-269194 FILM NUMBER: 231408795 BUSINESS ADDRESS: STREET 1: 2200 WOODLAND POINTE AVENUE CITY: HERNDON STATE: VA ZIP: 20171 BUSINESS PHONE: (703) 364-7325 MAIL ADDRESS: STREET 1: 2200 WOODLAND POINTE AVENUE CITY: HERNDON STATE: VA ZIP: 20171 FORMER COMPANY: FORMER CONFORMED NAME: VOLKSWAGEN AUTO LEASE UNDERWRITTEN FUNDING LLC DATE OF NAME CHANGE: 20020823 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: VOLKSWAGEN AUTO LEASE/LOAN UNDERWRITTEN FUNDING, LLC CENTRAL INDEX KEY: 0001182534 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 113650483 STATE OF INCORPORATION: DE FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 2200 WOODLAND POINTE AVENUE CITY: HERNDON STATE: VA ZIP: 20171 BUSINESS PHONE: (703) 364-7325 MAIL ADDRESS: STREET 1: 2200 WOODLAND POINTE AVENUE CITY: HERNDON STATE: VA ZIP: 20171 FORMER COMPANY: FORMER CONFORMED NAME: VOLKSWAGEN AUTO LEASE UNDERWRITTEN FUNDING LLC DATE OF NAME CHANGE: 20020823 FWP 1 tm2329820d9_fwp.htm FWP

Filed Pursuant to Rule 433

Registration Nos. 333-269194 and 333-269194-02

*Full Pricing* $1.25bn Volkswagen Auto Loan Enhanced Trust 2023-2 (VALET 2023-2)

Joint Leads:		Citi (str.), Mizuho, Scotia Capital, and TD

Co-Managers:		BofA, US Bancorp

Capital Structure:

CL	SIZE(MM)		WAL*		M/F	P.WIN	E.FINAL	L.FINAL	BENCH	SPREAD	YLD%	CPN	$Px
A1	$	245.000		0.22	P-1/F1+	1-6	05/20/24	11/20/24	I-Curve	+20	5.601	5.601	100.00000
A2-A	$	310.000		1.16	Aaa/AAA	6-23	10/20/25	03/22/27	I-Curve	+64	5.794	5.72	99.99417
A2-B	$	225.000		1.16	Aaa/AAA	6-23	10/20/25	03/22/27	SOFR30A	+63		SOFR30A+63	100.00000
A-3	$	420.000		2.76	Aaa/AAA	23-43	06/20/27	12/20/28	I-Curve	+90	5.547	5.48	99.98994
A-4	$	50.000		3.58	Aaa/AAA	43-43	06/20/27	04/22/30	I-Curve	+110	5.644	5.57	99.97167

*1.30% ABS to a 10.0% Clean-up Call

Maximum size of Class A2B is 50% of total Class A2 size

-Deal Summary-

Deal Size : $1.25bn

Settle : 11/21/2023

First Pay Date : 12/20/2023

Offering Format: SEC

ERISA : Yes

Exp. Ratings : M / F

Min Denoms : $100,000 x $1,000

BBG Ticker : VALET 2023-2

B&D : Citi

The issuer 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 issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Website at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.