---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-000532"
form_type: "8-K"
ticker: "CPSS"
cik: "0000889609"
company_name: "CONSUMER PORTFOLIO SERVICES, INC."
filed_at: "2024-01-30T23:59:59+00:00"
generated_at: "2026-06-06T15:34:52.066263+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CPS closes $280.9M asset-backed securitization, its 100th and first of 2024

## Summary
- Issued $280.9M in notes (five classes) secured by $300.6M subprime auto receivables; weighted coupon 6.51%.
- Senior Class A notes rated AAA by S&P and DBRS; Class E notes not rated; coupon 8.42%.
- Initial credit enhancement: 1.00% reserve cash and 6.55% overcollateralization; target max overcollateralization 9.55% of pool.
- Transaction marks 50th senior subordinate securitization since 2011 and 100th in company history.

## SEC filing metadata
- accession: 0001683168-24-000532
- form_type: 8-K
- ticker: CPSS
- cik: 0000889609
- company_name: CONSUMER PORTFOLIO SERVICES, INC.
- filed_at: 2024-01-30T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889609/000168316824000532/0001683168-24-000532-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889609/000168316824000532/cps_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-000532
- JSON: https://secwatch.observer/filing/0001683168-24-000532.json
- Plain text: https://secwatch.observer/filing/0001683168-24-000532.txt

## Key facts
- Debt Financings
  CONSUMER PORTFOLIO SERVICES, INC. incurred senior notes of $280.9 million aggregate principal amount of asset-backed Notes, in five classes with Computershare Trust Company, N.A. at fixed rates per class: 5.71% (A), 5.65% (B), 5.74% (C), 6.13% (D), 8.42% (E).
  - Instrument: senior notes
  - Principal: $280.9 million aggregate principal amount of asset-backed Notes, in five classes
  - Counterparty: Computershare Trust Company, N.A.
  - Rate: fixed rates per class: 5.71% (A), 5.65% (B), 5.74% (C), 6.13% (D), 8.42% (E)
  - Event: incurrence
  source text: the Trust issued and sold $280.9 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes")
  evidence_url: https://www.sec.gov/Archives/edgar/data/889609/000168316824000532/0001683168-24-000532-index.htm
- Material Agreements
  CONSUMER PORTFOLIO SERVICES, INC. entered into a asset purchase with CPS Auto Receivables Trust 2024-A valued at approximately $300.6 million (effective 2024-01-24).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: CPS Auto Receivables Trust 2024-A
  - Value: approximately $300.6 million
  - Effective: 2024-01-24
  source text: On January 24, 2024, the registrant Consumer Portfolio Services, Inc. ("CPS") and its wholly owned subsidiary CPS Receivables Five LLC ("Subsidiary") entered into a series of agreements under which Subsidiary purchased from CPS, and sold to CPS Auto Receivables Trust 2024-A (the "Trust"), approximately $300.6 million of subprime automotive receivables (the "Receivables").
  evidence_url: https://www.sec.gov/Archives/edgar/data/889609/000168316824000532/0001683168-24-000532-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.