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.

NAROT 2009-1 is the second auto ABS transaction that has priced this year and was a follow on to the strong demand received from the Honda Motor Co. 's auto ABS that came to market in January.  Barclays Capital also acted as the sole lead/structuring agent.

The deal is non-TALF eligible. As a result, the collateral on the transaction is highly seasoned (over 50% of the collateral originated prior to 10/1/07), with a weighted average seasoning of 16.16 months.

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