Kursticker

Asset Backed Securities

Im Rahmen der Asset Backed Securities (ABS)-Aktivitäten werden Forderungen ( Leasing, Händler, Retail) verbrieft und anschließend an speziell gegründete Gesellschaften verkauft. Diese refinanzieren sich wiederum über AB-CP’s und Anleihen, die am Geld- und Kapitalmarkt begeben werden.

Volkswagen Leasing GmbH
VCL 7

	Class A	Class B

Initial Balance	940 mio EUR	29.9 mio EUR

Ranking	Senior	Junior

Initial Credit Enhancement	8,22%	5,26%

Expected Weighted Average Live	1.48 years	1.86 years

Expected Final Payment Date	Sep 07	Sep 07

Legal Final Maturity	Dec 09	Dec 09

Preliminary Rating (Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+

Coupon	1-M-Euribor +0,08% p.a.	1-M-Euribor +0,26% p.a.

Denomination	10.000 EUR	10.000 EUR

Payment Frequency	monthly	monthly

Redemption	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer

Listing	Frankfurt Stock Exchange	Frankfurt Stock Exchange

Volkswagen Leasing GmbH
VCL 8

	Class A	Class B

Initial Balance	940 mio EUR	30 mio EUR

Ranking	Senior	Junior

Initial Credit Enhancement	8,22%	5,26%

Expected Weighted Average Live	3,9 years	4,0 years

Expected Final Payment Date	Oct 12	Oct 12

Legal Final Maturity	Oct 13	Oct 13

Preliminary Rating (Fitch, Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+

Coupon	1-M-Euribor +0,08% p.a.	1-M-Euribor +0,18% p.a.

Denomination	50.000 EUR	50.000 EUR

Payment Frequency	monthly	monthly

Redemption	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer

Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Leasing GmbH
VCL 9

	Class A	Class B

Initial Balance	940,20 mio EUR	30,35 mio EUR

Ranking	Senior	Junior

Initial Credit Enhancement	8,20%	5,20%

Expected Weighted Average Live	1.37 years	1.72 years

Expected Final Payment Date	Apr 11	Apr 11

Legal Final Maturity	Apr 12	Apr 12

Preliminary Rating (Fitch, Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+

Coupon	1-M-Euribor +0,05% p.a.	1-M-Euribor +0,13% p.a.

Denomination	50.000 EUR	50.000 EUR

Payment Frequency	monthly	monthly

Redemption	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer

Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver One

	Class A1	Class A2	Class B

Initial Balance	40 mio EUR	760 mio EUR	40 mio EUR

Ranking	Senior	Senior	Junior

Initial Credit Enhancement	9,90%	9,90%	6,75%

Expected Weighted Average Live	0.58 years	2.30 years	2.07 years

Expected Final Payment Window	Dec 04- Jan 06	Jan 06- Dec 07	Jan 06 - Dec 07

Legal Final Maturity	May 10	May 10	May 10

Preliminary Rating (Moody's, S&P)	AAA/Aaa	AAA/Aaa	A+/A1

Coupn	1-M-Euribor +0,06% p.a.	1-M-Euribor +0,09% p.a.	1-M-Euribor 0,23% p.a.

Denomination	10.000 EUR	10.000 EUR	10.000 EUR

Payment Frequency	monthly	monthly	monthly

Redemtion	sequential/pro rata pass through	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer	Global Bearer

Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Two

	Class A	Class B

Initial Balance	917,5 mio EUR	38,5 mio EUR

Ranking	Senior	Junior

Initial Credit Enhancement	9,75%	5,9%

Expected Weighted Average Live	4.2years	4.1 years

Expected Final Payment Window	July 2011- August 2013	July 2011- August 2013

Legal Final Maturity	August 2014	August 2014

Preliminary Rating (Moody's, S&P)	AAA/Aaa	A1/A+

Coupn	1-M-Euribor +0,09% p.a.	1-M-Euribor +0,21% p.a.

Denomination	50.000 EUR	50.000 EUR

Payment Frequency	monthly	monthly

Redemtion	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer

Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Three

	Class A	Class B

Initial Balance	924,5 mio EUR	35,0 mio EUR

Ranking	Senior	Junior

Initial Credit Enhancement	9,0%	5,55%

Expected Weighted Average Live	4.20 years	4.20 years



Legal Final Maturity	Oct 2015	Okt 2015

Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+

Coupn	1-M-Euribor +10BP	1-M-Euribor +19BP

Denomination	50.000 EUR	50.000 EUR

Payment Frequency	monthly	monthly

Redemtion	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer

Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Volkswagen Bank GmbH
Driver Four

	Class A	Class B

Initial Balance	933 mio EUR	30 mio EUR

Ranking	Senior	Junior

Initial Credit Enhancement	8,20%	5,20%

Expected Weighted Average Live	1,90 years	2,40 years



Legal Final Maturity	Dez 2012	Dez 2012

Preliminary Rating (Fitch/Moody's, S&P)	AAA/Aaa/AAA	A+/A1/A+

Coupn	1-M-Euribor + (tbd) BP	1-M-Euribor + (tbd) BP

Denomination	50.000 EUR	50.000 EUR

Payment Frequency	monthly	monthly

Redemtion	sequential/pro rata pass through	sequential/pro rata pass through

Form	Global Bearer	Global Bearer

Listing	Luxembourg Stock Exchange	Luxembourg Stock Exchange

Prospekte

Volkswagen Leasing GmbH VCL 7: PDF, 122 Seiten, 973 KB
Volkswagen Leasing GmbH VCL 8: PDF, 140 Seiten, 864 KB
Volkswagen Leasing GmbH VCL 9: PDF, 175 Seiten, 1.17 MB
Volkswagen Bank GmbH Driver One: PDF, 129 Seiten, 761 KB
Volkswagen Bank GmbH Driver Two: PDF, 138 Seiten, 924 KB
Volkswagen Bank GmbH Driver Three: PDF, 162 Seiten, 1.28 MB
Volkswagen Bank GmbH Driver Four: PDF, 161 Seiten, 1.27 MB

Info-Center

Prospekte

Volkswagen Leasing GmbH VCL 7: PDF, 122 Seiten, 973 KB
Volkswagen Leasing GmbH VCL 8: PDF, 140 Seiten, 864 KB
Volkswagen Leasing GmbH VCL 9: PDF, 175 Seiten, 1.17 MB
Volkswagen Bank GmbH Driver One: PDF, 129 Seiten, 761 KB
Volkswagen Bank GmbH Driver Two: PDF, 138 Seiten, 924 KB
Volkswagen Bank GmbH Driver Three: PDF, 162 Seiten, 1.28 MB
Volkswagen Bank GmbH Driver Four: PDF, 161 Seiten, 1.27 MB