Volkswagen Credit priced its latest, $1 billion auto loan securitization, Volkswagen Auto Lease Trust 2013-A, according to a Securities and Exchange Commission filing.

The $220 million class A-1 notes with a weighted average life of .35 years priced at par to yield 0.23% .

The $225 million class A-2A notes with a WAL of 1.25 years priced at eurodollar synthetic forward curve plus 27 basis points to yield 0.631%. 

The $370 million class A-2B notes with a WAL of 1.25 years priced at 1mL plus 25 basis points.

The 4350 million class A-3 notes with a WAL of 2.02 years priced at IntS plus 37 basis points to yield 0.848%.

The $85 million class A-4 notes with a WAL of 2.40 years priced at IntS plus 50 basis points to yield 1.08%.

The deal is expected to settle July 25.

The deal is backed by loans secured by new and used Volkswagen and Audi cars, minivans, and light-duty trucks and underwritten by VCI, the indirect wholly owned captive finance subsidiary of Volkswagen Group of America (VWGA).

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