NISSAN AUTO LEASING LLC II 8-K

What Happened

• Nissan Auto Leasing LLC II (NALL II) and Nissan Motor Acceptance Company LLC (NMAC) entered an Underwriting Agreement dated February 18, 2026, for the issuance and sale of notes issued by Nissan Auto Lease Trust 2026-A (the Issuing Entity).
• The Notes have an aggregate scheduled principal balance of $1,250,000,000 and are expected to be issued on or about February 26, 2026. The offering is registered under the Securities Act on Form SF-3 (File No. 333-282606).
• The Notes will be issued in multiple classes (Class A-1, A-2a, A-2b, A-3, A-4, Class B and Class C). BofA Securities, Inc. acted on behalf of the underwriters in the Underwriting Agreement; Citigroup Global Markets Inc. is named as the representative of the several underwriters for the sale.

Key Details

• Scheduled principal balance: $1,250,000,000.
• Key dates: Underwriting Agreement dated Feb 18, 2026; anticipated Closing Date / issuance on or about Feb 26, 2026.
• Collateral: a pool of closed-end retail Nissan and Infiniti vehicle lease contracts and related leased vehicles (the “2026-A Series Assets”).
• Transaction parties and roles include NMAC (servicer and sponsor), NILT LLC (member creating the 2026-A Series), Wilmington Trust, N.A. (Owner Trustee), U.S. Bank (Indenture Trustee and Securities Intermediary) and Clayton Fixed Income Services LLC (asset representations reviewer).

Why It Matters

• This filing documents a securitization (asset-backed securities offering) that raises $1.25 billion of financing backed by Nissan and Infiniti retail leases—providing liquidity and funding to the Nissan financing platform.
• For investors: the offering creates tradable note classes backed by vehicle lease payments; risk and return will depend on the notes’ class, priority, and the performance of the underlying lease pool. The Notes are registered and governed by multiple agreements (indenture, servicing supplements, trust agreements) that define payment priorities and servicing responsibilities.