NISSAN AUTO LEASING LLC II 8-K

What Happened
Nissan Auto Leasing LLC II (NALL II) filed an 8‑K reporting that, on February 26, 2026, a new 2026‑A Series of Nissan-Infiniti LT LLC was created to include certain closed‑end retail vehicle leases and leased vehicles (the “2026‑A Series Assets”). Those series interests were transferred through NALL II to a newly formed Issuing Entity, Nissan Auto Lease Trust 2026‑A, which issued $1,250,000,000 aggregate principal amount of asset‑backed notes under an Indenture. The notes were sold to underwriters led by BofA Securities, Inc., and the transaction is registered on Form SF‑3 (File No. 333‑282606).

Key Details

• Closing Date: February 26, 2026.
• Total notes issued: $1,250,000,000, comprised of:
  • $111,000,000 Class A‑1; $239,940,000 Class A‑2a; $240,000,000 Class A‑2b; $479,940,000 Class A‑3; $78,860,000 Class A‑4; $47,640,000 Class B; $52,620,000 Class C.
• Servicer and sponsor: Nissan Motor Acceptance Company LLC (NMAC). Indenture Trustee: U.S. Bank. Owner Trustee for the Issuing Entity: Wilmington Trust, National Association. Underwriter representative: BofA Securities, Inc.
• Supporting agreements executed on the closing date include the Indenture, servicing supplement, trust agreement, administration agreement, asset representations review agreement, and securities account control agreement.

Why It Matters
This filing documents a securitization that converts retail vehicle lease receivables into $1.25 billion of marketable notes, providing funding to Nissan’s financing operations. For investors, the transaction is a financing activity (not an equity change) that can affect liquidity and funding cost for Nissan’s leasing business; the notes represent claims on the lease cash flows and are structured in multiple classes. The 8‑K confirms the legal and servicing arrangements (servicer, trustee, reviewer and intermediary) that support the trust and the notes.