USAA is prepping its first prime auto loan securitization of the year, according to presale reports from Moody’s Investors Service and Standard & Poor’s.

The $500 million deal, called USAA Auto Owner Trust 2015-1, offers a four classes of senior notes: a $155 million of class A-1 money market notes  rated ‘P-1’/’A-1+’ by Moody’s and S&P, respectively, and $140 million of class A-2 notes, $122 million of class A-3 notes, and $74.18 million of class A-4 notes all rated ‘Aaa’/’AAA.’ The subordinate tranche consists of $8.82 million of ‘A3’/’A’- rated class B notes.

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