Capital One Auto Receivables, LLC has closed a $1.6 billion offering of asset-backed securities backed by retail installment sales contracts for new and used automobiles, light-duty trucks, SUVs, and vans. The transaction, known as Capital One Prime Auto Receivables Trust 2026-1, was established on September 17, 2026.
Under the terms of the deal, Capital One, National Association transferred the receivables to the trust. The trust issued nine classes of notes secured by the vehicle contracts, with interest rates ranging from 4.002% to 5.70%. The notes were sold to a syndicate of underwriters led by J.P. Morgan Securities, BofA Securities, and RBC Capital Markets. Other participants in the underwriting group include Academy Securities, Cabrera Capital Markets, CastleOak Securities, and Siebert Williams Shank & Co.
Capital One, National Association will serve as the servicer and administrator for the assets. BNY Mellon Trust of Delaware acts as the owner trustee, while Wilmington Trust, National Association serves as the certificate registrar and paying agent. Additionally, Clayton Fixed Income Services was engaged to conduct an Asset Representations Review of the transaction.
