FREE WRITING PROSPECTUS Dated August 30, 2021 | Filed Pursuant to Rule 433 Registration No. 333-239650 Registration No. 333-239650-06 |
**FULL PXING DETAILS** Carvana Auto Receivables Trust 2021-N3 (CRVNA 2021-N3)
ACTIVE BOOKRUNNERS (A-1 - N): Wells Fargo (str), BNP Paribas, Citi
ACTIVE BOOKRUNNERS (R): Wells Fargo (str), Baird, Credit Suisse
PASSIVE BOOKRUNNERS (A-1 - N): Credit Suisse, DB
CO-MANAGER: Baird
CLS | AMT(MM) | Offered(MM) | WAL* | P.WIN* | Exp.Ratings(S/K/D) | L.FINAL | BENCH | SPREAD | CPN% | YLD% | $PRICE | |||||||||||||||||||||||||||||
A-1 | $ | 154.340 | $ | 146.623 | 0.83 | 01-30 | AAA/AAA/AAA | 06/2028 | EDSF | +21 | .35 | % | .360 | % | $ | 99.99197 | ||||||||||||||||||||||||
A-2 | $ | 57.130 | $ | 54.273 | 3.50 | 30-58 | AAA/AAA/AAA | 06/2028 | IntS | +50 | 1.11 | % | 1.114 | % | $ | 99.99512 | ||||||||||||||||||||||||
B | $ | 56.490 | $ | 53.665 | 1.48 | 08-59 | AA/AA+/AA | 06/2028 | EDSF | +45 | .66 | % | .663 | % | $ | 99.99693 | ||||||||||||||||||||||||
C | $ | 53.340 | $ | 50.673 | 2.13 | 16-59 | A/A+/A(H) | 06/2028 | IntS | +70 | 1.02 | % | 1.030 | % | $ | 99.98361 | ||||||||||||||||||||||||
D | $ | 52.500 | $ | 49.875 | 2.85 | 25-59 | BBB/BBB+/BBB(H) | 06/2028 | IntS | +110 | 1.58 | % | 1.589 | % | $ | 99.98951 | ||||||||||||||||||||||||
E | $ | 46.200 | $ | 43.890 | 3.91 | 36-59 | NR/BB/BB | 06/2028 | IntS | +250 | 3.16 | % | 3.189 | % | $ | 99.97060 | ||||||||||||||||||||||||
**N | $ | 18.900 | $ | 17.955 | 0.69 | ** | 04-13 | ** | NR/BB/BB(L) | 06/2028 | EDSF | +240 | 2.53 | % | 2.547 | % | $ | 99.99756 | ||||||||||||||||||||||
**R [Privately Placed] |
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* | Based on 1.5 ABS Pricing Speed to 2% Call |
** | Based on Case 2 assumptions outlined in the Class N and Certificate PPMs attached |
-Deal Summary-
Rated Notes Issued Amount: $438.900MM *No Grow*
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Rated Notes Offered Amount: $416.954MM *No Grow*
Exp. Pricing: PRICED
Exp. Settle: 9/9/2021
Offering Format: A-1 - D: Public | E, N and R: 144A/Reg. S
First Pay Date: 10/12/2021
ERISA: A-1 - D: Yes | E, N and R: No
Exp. Ratings: S/K/D
Min Denoms: A-1 - D: $1k x $1k
E: $1.25mm x $1k
N: $750k x $1k
R: [Privately Placed]
BBG Ticker: CRVNA 2021-N3
B&D: Wells Fargo
-Available Information-
* | Preliminary Prospectus, Preliminary Class E OM, Preliminary Class N OM, Preliminary Certificate PPM, FWP, CDI File and SSS File (attached). Investor presentation and performance data file are available on DealRoadshow |
* | Intex Deal Name: wscrvna2021_n3 Password: K7YX |
* | Link: https://dealroadshow.finsight.com/ Passcode: CRVNA2021N3 |
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If this communication relates to an offering of US registered securities (i) a registration statement has been filed with the SEC, (ii) before investing you should read the filed documents, and (iii) you may obtain these documents from your sales representative, by calling 1-800-326-5897 or visiting www.sec.gov. If this communication relates to a securities offering exempt from US registration, you should contact your sales representative for the complete disclosure package.
For information regarding Wells Fargo, see https://www.wellsfargo.com/com/disclaimer/wfid3.
In Japan, see: https://www.wellsfargo.com/com/disclaimer/wfsjb4.
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