--- schema_version: "secwatch.filing_event.v1" accession: "0000929638-26-001549" form_type: "8-K" ticker: null cik: "0001126530" company_name: "BMW AUTO LEASING LLC" filed_at: "2026-04-22T23:59:59+00:00" generated_at: "2026-05-15T04:50:13.627218+00:00" event_type: "debt" sentiment: "neutral" materiality_score: 0.9 calibrated_materiality_score: 0.9 confidence: "high" source: SEC EDGAR --- # BMW Vehicle Lease Trust 2026-1 Issued $1.5 Billion in Asset-Backed Notes ## Summary - BMW Vehicle Lease Trust 2026-1 issued $1.5B in asset-backed notes on April 22, 2026, across five classes: A-1 ($249.6M), A-2a ($490.2M), A-2b ($90M), A-3 ($580.2M), A-4 ($90M). - The securitization involved 10 definitive agreements including the Indenture, Vehicle Trust Supplement, and Back-Up Security Agreement. - Underwriters included J.P. Morgan Securities LLC, and the notes are backed by vehicle leases from BMW Manufacturing L.P. - The transaction is structured with a SUBI certificate transfer from BMW Manufacturing to BMW Auto Leasing to the Trust. ## SEC filing metadata - accession: 0000929638-26-001549 - form_type: 8-K - cik: 0001126530 - company_name: BMW AUTO LEASING LLC - filed_at: 2026-04-22T23:59:59+00:00 - event_type: debt - sentiment: neutral - materiality_score: 0.9 - calibrated_materiality_score: 0.9 - confidence: high - sec_items: 1.01, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/bmw2026-1_8k.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0000929638-26-001549 - JSON: https://secwatch.observer/filing/0000929638-26-001549.json - Plain text: https://secwatch.observer/filing/0000929638-26-001549.txt ## Source-grounded claims - claim_id: 2ac5008609c93c8ff927a4aab58da13cc1dca100 claim: BMW AUTO LEASING LLC entered into Indenture with U.S. Bank Trust Company, National Association valued at Indenture pursuant to which the Trust issued the Notes (effective 2026-04-22). evidence_excerpt: An Indenture (the “Indenture”) between the Trust, as issuer, and U.S. Bank Trust Company, National Association, as indenture trustee (the “Indenture Trustee”), pursuant to which the Trust issued the Notes evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: 3fb02be964eba12afa1fe5683989327bd4316d89 claim: BMW AUTO LEASING LLC entered into Asset Representations Review Agreement with Clayton Fixed Income Services LLC valued at Review of certain representations relating to Specified Leases and Specified Vehicles (effective 2026-04-22). evidence_excerpt: An Asset Representations Review Agreement (the “Asset Representations Review Agreement”) among the Trust, the Servicer, and Clayton Fixed Income Services LLC, as asset representations reviewer (the “Asset Representations Reviewer”), relating to the review of certain representations relating to the Specified Leases and Specified Vehicles evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: 687ceb4ff7d86805271129cbb33a8e17779d6aec claim: BMW AUTO LEASING LLC entered into Back-Up Security Agreement with Vehicle Trust valued at Grant of first priority security interest in certain collateral to secure the Notes (effective 2026-04-22). evidence_excerpt: A Back-Up Security Agreement (the “Back-Up Security Agreement”) among the Vehicle Trust, BMW Manufacturing, BMW LLC, the Trust and the Indenture Trustee, pursuant to which each of the Vehicle Trust, BMW Manufacturing and BMW LLC granted to the Trust a first priority security interest in certain collateral to secure the Notes evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: a6f675fa6fc7d801a8f69cd7e18ba6a9b3b6a1be claim: BMW AUTO LEASING LLC entered into Issuer SUBI Certificate Transfer Agreement with BMW Vehicle Lease Trust 2026-1 valued at Transfer of SUBI Certificate from BMW LLC to the Trust (effective 2026-04-22). evidence_excerpt: An Issuer SUBI Certificate Transfer Agreement (the “Issuer SUBI Certificate Transfer Agreement”) between BMW LLC and the Trust, pursuant to which the SUBI Certificate was transferred by BMW LLC to the Trust evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: b82cc019cd8867879c61399d8b6f29dd9cdb38d8 claim: BMW AUTO LEASING LLC entered into Amended and Restated Trust Agreement with Wilmington Trust, National Association valued at Amended and restated trust agreement for BMW Vehicle Lease Trust 2026-1 (effective 2026-04-22). evidence_excerpt: An Amended and Restated Trust Agreement of the Trust (the “Amended and Restated Trust Agreement”) between BMW LLC and Wilmington Trust, National Association, as owner trustee (the “Owner Trustee”) evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: c82cff72e9b01bd764f58d0fc058043394cf5dc3 claim: BMW AUTO LEASING LLC entered into Control Agreement with U.S. Bank National Association valued at Establishment of control over certain collateral securing the Notes under UCC Articles 8 and 9 (effective 2026-04-22). evidence_excerpt: A Control Agreement (the “Control Agreement”) among the Trust, the Indenture Trustee, including in its capacity as secured party, and U.S. Bank National Association, as securities intermediary (the “Securities Intermediary”), related to the establishment of “control” pursuant to Article Eight and Nine of the Uniform Commercial Code over certain of the collateral securing the Notes evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: dc7f7515a611355d6332186e34149c8be6037d1f claim: BMW AUTO LEASING LLC entered into SUBI Certificate Transfer Agreement with BMW Manufacturing L.P. valued at Transfer of SUBI Certificate from BMW Manufacturing to BMW LLC (effective 2026-04-22). evidence_excerpt: A SUBI Certificate Transfer Agreement (the “SUBI Certificate Transfer Agreement”) between BMW Manufacturing and BMW LLC, pursuant to which the SUBI Certificate was transferred by BMW Manufacturing to BMW LLC evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: dd9905e57b399876b180e6418fd445705c2dd125 claim: BMW AUTO LEASING LLC entered into 2026-1 SUBI Servicing Supplement with Financial Services Vehicle Trust valued at Servicing supplement for specified leases and vehicles allocated to SUBI Certificate (effective 2026-04-22). evidence_excerpt: A 2026-1 Servicing Supplement (the “2026-1 SUBI Servicing Supplement”) among Financial Services Vehicle Trust (the “Vehicle Trust”), the UTI Beneficiary and BMW Financial Services NA, LLC (“BMW FS”), as servicer (in such capacity, the “Servicer”) and sponsor (in such capacity, the “Sponsor”), to the Basic Servicing Agreement, dated as of August 30, 1995 (the “Basic Servicing Agreement”), among the Vehicle Trust, BMW Manufacturing and the Servicer, pursuant to which the leases (the “Specified Leases”) and related leased vehicles (the “Specified Vehicles”) allocated to the SUBI Certificate are serviced by the Servicer evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: e565ee3885052757501ff6a3031a9829ed8f9230 claim: BMW AUTO LEASING LLC entered into 2026-1 Vehicle Trust Supplement with BMW Manufacturing L.P. valued at Asset-backed notes in multiple classes totaling approximately $1,500,000,000 (effective 2026-04-22). evidence_excerpt: In connection with the issuance by BMW Vehicle Lease Trust 2026-1 (the “Trust”) on April 22, 2026 (the “Closing Date”) of its (i) Class A-1 Asset-Backed Notes in the aggregate original principal amount of $249,600,000; (ii) Class A-2a Asset-Backed Notes in the aggregate original principal amount of $490,200,000; (iii) Class A-2b Asset-Backed Notes in the aggregate original principal amount of $90,000,000; (iv) Class A-3 Asset-Backed Notes in the aggregate original principal amount of $580,200,000 and (v) Class A-4 Asset-Backed Notes in the aggregate original principal amount of $90,000,000 (collectively, the “Notes”), and the sale of certain of the Notes, BMW Auto Leasing LLC (“BMW LLC”) is filing the agreements listed below, each dated as of the Closing Date: 1. A 2026-1 Vehicle Trust Supplement (the “2026-1 Vehicle Trust Supplement”) between BMW Manufacturing L.P. (“BMW Manufacturing”), as grantor (in such capacity, the “Grantor”) and UTI beneficiary (in such capacity, the “UTI Benef evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm - claim_id: f30f0860fdfa7049ef9a8872848cf6f27db1db36 claim: BMW AUTO LEASING LLC entered into Administration Agreement with BMW Financial Services NA, LLC valued at Provision of administrative services for the Trust by Administrator (effective 2026-04-22). evidence_excerpt: An Administration Agreement (the “Administration Agreement”) among BMW FS, as administrator (in such capacity, the “Administrator”), BMW LLC, as depositor, the Trust and the Indenture Trustee, relating to the provision by the Administrator of certain services for the Trust evidence_url: https://www.sec.gov/Archives/edgar/data/1126530/000092963826001549/0000929638-26-001549-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.