CPSS closes $416.82M auto securitization, fourth term deal in 2024

CONSUMER PORTFOLIO SERVICES, INC.

Issued $416.82M in asset-backed notes via CPS Auto Receivables Trust 2024-D, secured by $436M in subprime auto receivables.
Five note classes: A ($188.35M, 4.91%), B ($56.24M, 4.65%), C ($71.94M, 4.76%), D ($46.00M, 5.14%), E ($54.28M, 7.13%).
Senior Class A rated AAA by S&P and DBRS; weighted average coupon ~5.52%.
Initial credit enhancement: 1.00% cash reserve and 4.40% overcollateralization, stepping to 9.00% of pool or 25.60% of outstanding.
Pre-funded structure: $298.42M receivables sold at close; $137.58M additional expected in October 2024.

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