Mercedes-Benz Financial Services priced its $1.3 billion securitization of auto leases on Wednesday, according to a pricing term sheet filed with the US Securities and Exchange Commission.

Fitch Ratings assigned preliminary ratings to the deal.  The class ‘AAA’-rated, class A-2 with a weighted average life of .96-years priced at 27 basis points over the Eurodollar synthetic forward curve.

The ‘AAA’-rated, class A-3 with a weighted average life of 1.53-years priced at 31basis points over the Eurodollar synthetic forward curve and class A-4 notes, rated ‘AAA’  and are structured with a weighted average life of 2.05-years, priced at 37 basis points over the interpolated swaps curve.

Mercedes-Benz’s Auto Lease Trust 2013-B is the second lease securitization deal for the issuer in 2013. JP Morgan, Credit Agricole and HSBC are the lead underwriters on the deal.

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