---
schema_version: "secwatch.filing_event.v1"
accession: "0001683168-24-002668"
form_type: "8-K"
ticker: "CPSS"
cik: "0000889609"
company_name: "CONSUMER PORTFOLIO SERVICES, INC."
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:58:47.647608+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# CPS completes $319.9M securitization of subprime auto receivables, class A rated AAA

## Summary
- Issued $319.9M in asset-backed notes secured by $337.2M auto receivables; 5 note classes with coupons from 5.78% to 8.36%.
- Weighted average coupon 6.69%; class A notes rated AAA by S&P and DBRS; class E rated NR/BB.
- Initial credit enhancement: cash reserve of 1% pool balance plus 5.15% overcollateralization; target OC of 8.40% original balance.
- 51st senior subordinate securitization since 2011; 34th consecutive with AAA on senior class.
- Transaction closed April 23, 2024; notes not registered under Securities Act, sold to QIBs.

## SEC filing metadata
- accession: 0001683168-24-002668
- form_type: 8-K
- ticker: CPSS
- cik: 0000889609
- company_name: CONSUMER PORTFOLIO SERVICES, INC.
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/889609/000168316824002668/0001683168-24-002668-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/889609/000168316824002668/cps_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001683168-24-002668
- JSON: https://secwatch.observer/filing/0001683168-24-002668.json
- Plain text: https://secwatch.observer/filing/0001683168-24-002668.txt

## Key facts
- Debt Financings
  CONSUMER PORTFOLIO SERVICES, INC. incurred debt of $319.9 million.
  - Principal: $319.9 million
  - Event: incurrence
  source text: the Trust issued and sold $319.9 million of asset-backed Notes, in five classes (such Notes collectively, the "Notes")
  evidence_url: https://www.sec.gov/Archives/edgar/data/889609/000168316824002668/0001683168-24-002668-index.htm

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