Rate of prepayment of underlying loans

If a high proportion of the borrowers to underlying loans repay all or part of their loan prior to the end of their loan term, the amount of available income in the Plenti 2022 Auto ABS will be reduced and may be insufficient to cover all the required payments including the repayment of the Class A-X notes. This may result in the 2022 Auto G-Notes being subject to charge-offs and you may suffer financial loss. See Section 5 for further information.

Additionally, if the underlying loans are repaid faster than assumed in the swap arrangements, then the Plenti 2022 Auto ABS may not receive sufficient income from those swaps to meet its payment obligations. This may mean excess spread is reduced and the 2022 Auto G-Notes would become more exposed to loss in the event of default on underlying loans, and accordingly you may suffer financial loss