Free Writing Prospectus
Filed Pursuant to Rule 433
Registration No. 333-260819
Registration No. 333-260819-02
Free Writing Prospectus dated April 18, 2022
CarMax Auto Owner Trust 2022-2
Issuing Entity or Trust
CarMax Business Services, LLC
Sponsor and Servicer
CarMax Auto Funding LLC
Depositor and Seller
The depositor has prepared a preliminary prospectus dated April 18, 2022 which describes the notes to be issued by the issuing entity. You should review the preliminary prospectus in its entirety before deciding to purchase any of the notes.
Ratings
The depositor expects that the notes issued by the issuing entity will receive at least the indicated credit ratings from the nationally recognized statistical rating organizations, or “rating agencies,” listed below.
| | | | |
| | | Moody’s Investors Service,
Inc. | | S&P Global Ratings |
Class A-1 Asset-backed Notes | | P-1 (sf) | | A-1+ (sf) |
Class A-2 Asset-backed Notes | | Aaa (sf) | | AAA (sf) |
Class A-3 Asset-backed Notes | | Aaa (sf) | | AAA (sf) |
Class A-4 Asset-backed Notes | | Aaa (sf) | | AAA (sf) |
Class B Asset-backed Notes | | Aa2 (sf) | | AA (sf) |
Class C Asset-backed Notes | | A2 (sf) | | A+ (sf) |
Class D Asset-backed Notes | | Baa2 (sf) | | A- (sf) |
It is a condition to the issuance of the notes that, on the closing date, each class of notes receive at least the ratings listed above.
Joint Bookrunners of the Class A, B, C and D Notes
| | | | | | |
| BofA Securities | | Barclays | | Mizuho Securities | | Wells Fargo Securities |
Co-Managers of the Class A Notes
| | | | | | | | |
| Academy Securities | | CIBC Capital Markets | | R. Seelaus & Co., LLC | | Scotiabank | | TD Securities |
The depositor has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the depositor has filed
