Barclays Capital priced a $1.1 billion auto ABS deal for Nissan Motor Acceptance Corp., NAROT 2009-1. The bank was sole bookrunner and structuring agent.
The transaction had three triple-A tranches of sequential notes, with a weighted average life of 1.27-years and an all-in bond coupon of 4.54%. The A-1, A-2 and A-3 tranches were issued as fixed-rate notes. The absence of the A-4 tranche is solely based on the high seasoning on the collateral.