NISSAN AUTO LEASING LLC II 8-K

What Happened
NISSAN AUTO LEASING LLC II filed an 8‑K reporting that on July 29, 2026 it completed a securitization transaction (the “2026‑B Series”) by transferring closed‑end retail vehicle lease contracts and the related Nissan and Infiniti vehicles into a new issuing trust, Nissan Auto Lease Trust 2026‑B. The trust issued $1,289,740,000 aggregate principal amount of asset‑backed notes (multiple classes) pursuant to an Indenture, with Citigroup Global Markets Inc. acting as representative of the underwriters. Nissan Motor Acceptance Company LLC (NMAC) serves as servicer and trust administrator; Wilmington Trust, National Association is the owner trustee for the issuing trust; U.S. Bank is the indenture trustee.

Key Details

• Transaction date: July 29, 2026 (Closing Date).
• Total notes issued and sold: $1,289,740,000 aggregate principal across Class A‑1, A‑2a, A‑2b, A‑3, A‑4, B and C notes.
• Trust and parties: Issuing Entity = Nissan Auto Lease Trust 2026‑B; Sponsor/Servicer = NMAC; Owner Trustee = WTNA; Indenture Trustee = U.S. Bank; Underwriters led by Citigroup Global Markets Inc.
• Assets: Closed‑end retail vehicle leases and the related Nissan and Infiniti leased vehicles (the “2026‑B Series Assets”). The notes were registered under the Securities Act via a Form SF‑3 registration statement.

Why It Matters
This filing documents a standard securitization: Nissan‑related lease receivables were moved into a trust and sold to investors as asset‑backed notes to raise funding. For retail investors, the key points are the size of the issuance ($1.29B), the underlying collateral (retail Nissan/Infiniti leases), and the roles of NMAC (servicer/sponsor) and major financial institutions (U.S. Bank, WTNA, Citigroup). The performance of these notes will depend on payments on the underlying leases (vehicle returns, defaults, residual values), while the transaction provides liquidity and capital for Nissan’s leasing operations.