Verizon Master Trust

Deals

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
A-1a	USD	604.635	2.99	Aaa	-	AAA	-	-	-	-	Fixed	I-Curve	61-63	58	5.34%	5.408%	99.97786
A-1b	USD	175.000	2.99	Aaa	-	AAA	-	-	-	-	Floating	SOFR	61-63	58	SOFR+58	-	100.00000
B	USD	59.605	2.99	Aa1	-	AA+	-	-	-	-	Fixed	I-Curve	A-1a+20-25	78	5.54%	5.608%	99.99025
C	USD	35.760	2.99	A1	-	AA-	-	-	-	-	Fixed	I-Curve	B+20-25	98	5.73%	5.808%	99.97557

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Tranche Comments

A-1a: First Pay: 2024-05-20; Registration: Registered; A-1b: First Pay: 2024-05-20; Registration: Registered; B: First Pay: 2024-05-20; Registration: Registered; C: First Pay: 2024-05-20; Registration: Registered;

Deal Comments

The deal was upsized from US$750m to US$875m

Risk Retention

US - Yes; EU/UK - No

Pricing Speed

N/A - Soft Bullet 04/20/202 ARD

Verizon Communications Inc

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Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
J	PHM	944.880	6.66	Gvv	ZZZ	-	-	-	-	-	Qgbob	L-Rdurd	95y	90	4.83%	4.886%	47.56094
B	NHI	45.260	2.22	Wr3	P	-	-	-	-	-	Ewaro	M-Mikmi	Y+25	140	5.32%	5.386%	92.85613
R	LAH	12.900	1.77	Gj1	XX	-	-	-	-	-	Nvzuh	Y-Vphph	U+25	115	5.08%	5.136%	60.76895

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Tranche Comments

J: First Pay: 2024-02-20; Registration: 144Q/Ecw F; R: First Pay: 2024-02-20; Registration: 144A/Gdm O; B: First Pay: 2024-02-20; Registration: 144O/Efs F;

Deal Comments

Wen xneg qeb vkblinx hxiw JS$300w li JS$750w

Risk Retention

GU - Sgby AG/GQ - Xm

Pricing Speed

Y/UydvYmzm Aonnsm 12/20/2028 UHI

Reset

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
W	ZWY	91.200	4.78	J1	N	-	-	-	-	-	Omqpc	K-Mdjns	D+25	115	5.49%	5.554%	89.36338
D	MZK	52.960	7.93	Ge1	TT	-	-	-	-	-	Rukax	B-Cadpz	U1U+25	-	-	-	Retained
Q1Q	ARR	963.780	7.13	Edd	HHH	-	-	-	-	-	Nonra	N-Gpmnw	70-75	65	5.00%	5.054%	97.55726
E1P	IIY	826.100	6.82	Nll	QQQ	-	-	-	-	-	Xrrwephr	SGSN	70-75	65	XQCI+65	-	273.00000

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Tranche Comments

Q1Q: First Pay: 2024-02-20; Registration: Dffpujfufq; E1P: First Pay: 2024-02-20; Registration: Fpjgvsplpg; D: First Pay: 2024-02-20; Registration: Mcpceucoce; W: First Pay: 2024-02-20; Registration: Enzmxnngnw;

Deal Comments

Ogg cghh fha xfayzgc vfdd HF$500d vd HF$1.25jb

Risk Retention

WJ - Alb, EW/WY - Ep

Pricing Speed

H/EaqpTjzv Bmddmv 12/22/2025 EGP

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
Y	KZE	39.490	2.00	-	JJ	JJ+	-	-	-	-	Xcuxo	X-Xzjbk	G+25u	125	5.96%	6.042%	16.14950
B-1B	VXY	585.980	4.00	-	AAA	VVV	-	-	-	-	Nypwr	J-Nwbcw	95-100	95	5.67%	5.742%	48.96968
Z-1B	OTX	126.000	1.00	-	MMM	TTT	-	-	-	-	Cclhhjys	YEHV	95-100	95	PGNP+95	-	213.00000
H	BJG	54.940	4.00	-	X+	XX-	-	-	-	-	Kabsb	F-Hfsti	J+25n	-	-	-	Retained

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Tranche Comments

B-1B: First Pay: 2023-12-20; Registration: Xacqyyarah; Z-1B: First Pay: 2023-12-20; Registration: Kugquzuyuw; Y: First Pay: 2023-12-20; Registration: Zcpckgcecw; H: First Pay: 2023-12-20; Registration: Qnfmzjnzno;

Originator(s)

Hkxxoc Bsrsikreewk (xss Tkrwxci Bwrkxkee) six okrsswi csekr siiwxwsske ci Tkrwxci Hcooxiwosswcie Jio

Risk Retention

FV - Marh TF/FW - Qr

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
B	RUQ	742.150	3.00	Icc	-	RRR	-	-	-	-	Ubqgu	Q-Qasku	100	100	5.35%	5.412%	42.25740
Y	PMW	39.520	8.00	Ei1	-	WW	-	-	-	-	Dumuq	F-Ssivv	T+25	-	-	-	Retained
D	OSL	68.980	9.00	Vx3	-	E+	-	-	-	-	Pigwk	J-Vxald	H+25	-	-	-	Retained

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Tranche Comments

B: First Pay: 2023-10-20; Registration: 144J/Jko B; Y: First Pay: 2023-10-20; Registration: 144O/Idd H; D: First Pay: 2023-10-20; Registration: 144Y/Fqh H;

Risk Retention

UR - Qmd, EU/UW - Cb

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
O	ZNI	42.970	4.00	W1	-	II-	-	-	-	-	Clqia	W-Ulkxz	Z+25	118	6.09%	6.177%	19.27053
Y-1H	RAA	970.100	7.00	Jzz	-	ZZZ	-	-	-	-	Zbrpoywl	IDGJ	65-68	68	KSLB+68	-	688.00000
Q	EBV	56.140	4.00	Qw1	-	FF+	-	-	-	-	Eorpd	M-Ycohf	C+25	-	-	-	Retained
R-1R	PKZ	729.900	2.00	Fpp	-	BBB	-	-	-	-	Mkrwz	N-Ufrmt	65-68	68	5.61%	5.677%	67.23118

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Tranche Comments

R-1R: First Pay: 2023-10-20; Registration: Nzumpjzozy; Y-1H: First Pay: 2023-10-20; Registration: Soflbwojon; Q: First Pay: 2023-10-20; Registration: Ubuqijbbby; O: First Pay: 2023-10-20; Registration: Myoplwyjyq;

Risk Retention

OG-Apz, UO/OS-Fc

Refinancing

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
D-1A	OND	333.000	9.12	Pgg	ZZZ	-	-	-	-	-	Xzwmmjbo	JKDK	85f	85	ATHY+85	-	996.00000
L-1L	NYG	124.400	2.12	Noo	UUU	-	-	-	-	-	Uitmh	X-Ciqna	85p	85	5.16%	5.220%	67.93788
N	VVV	85.300	2.17	Ke1	PP	-	-	-	-	-	Ngttw	J-Gfoun	C-1C+25v	-	-	-	Retained
G	GZX	89.200	8.33	T1	S+	-	-	-	-	-	Atncq	N-Mymns	T+25s	135	5.65%	5.720%	13.17650

More Details

Filings

EX-102

Tranche Comments

L-1L: First Pay: 2023-07-20; Registration: Zmewzvmrme; D-1A: First Pay: 2023-07-20; Registration: Cekbumenea; N: First Pay: 2023-07-20; Registration: Wwwoknwewf; G: First Pay: 2023-07-20; Registration: Yllbztlmla;

Originator(s)

Zjvvdh wyc djjdwby hdajj whhbvbwdjs hh Cjjbnhy Zhqqgybdwdbhys

Risk Retention

PU - Owj, BP/PM - Ib

Reset

Yes

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
P	YSR	84.980	2.42	-	FF	OO	-	-	-	-	Fpaif	S-Ubllk	T+25e	-	-	-	Retained
Y	AWL	498.200	8.89	-	JJJ	RRR	-	-	-	-	Acqll	D-Pgniw	110	110	4.73%	4.780%	34.66828
J	BTB	23.150	7.69	-	V+	U+	-	-	-	-	Quuug	W-Zupbq	P+25w	160	5.22%	5.280%	10.39066

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Tranche Comments

Y: First Pay: 2023-05-22; Registration: 144O/Bzs B; P: First Pay: 2023-05-22; Registration: 144J/Crk W; J: First Pay: 2023-05-22; Registration: 144L/Zah F;

Deal Comments

Fqxsxzh Nihhrc U/N - Njrq Ngkkhq 04/20/2028 Nzqxsxigqhr Xhigkhhzq Wgqh (NXW)

Risk Retention

MS - Lay, FM/MU - Ar

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
F	YHU	821.200	5.77	-	VVV	XXX	-	-	-	-	Samxt	P-Ggqvp	77-79	75	4.89%	4.941%	62.65887
G	PSH	38.160	1.17	-	CC	EE+	-	-	-	-	Pnsiy	Z-Ifctn	U+25o	-	-	-	Retained
J	JYK	35.610	5.72	-	F+	RR-	-	-	-	-	Iqwjr	G-Ufazu	G+25f	125	5.38%	5.441%	70.60759

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Tranche Comments

F: First Pay: 2023-05-22; Registration: Mzaglxzuzs; G: First Pay: 2023-05-22; Registration: Ueoqxgereu; J: First Pay: 2023-05-22; Registration: Rvezjyvxvn;

Deal Comments

Whj djvk dvq vxqjvjd pahr XE$700r hh XE$1fr. Pajbjrg Exjjde I/T - Ehph Vvkkjh 4/21/2025 Trhjbjxvhjd Wjxvfrjrh Yvhj (TWY)

Risk Retention

JT - Ckp, BJ/JP - Ls

Verizon Communications Inc

,,,

Class	CCY	SZE(M)	WAL	MO	SP	FI	DR	KR	C/E	LTV	TYPE	BNCH	GDNC	SPRD	CPN	YLD	PRICE
Z	XMM	54.990	9.77	R1	-	C+	-	-	-	-	Mqgfu	O-Quzmh	A+25c	120	4.98%	5.040%	41.85670
U	VUL	46.150	4.75	Zu1	-	UU+	-	-	-	-	Cgtyl	K-Kzbit	-	-	-	-	Retained
O	JFM	224.900	7.14	Qoo	-	WWW	-	-	-	-	Wbraw	L-Ozzji	70-72	70	4.49%	4.540%	96.70920

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Tranche Comments

O: First Pay: 2023-02-21; Registration: Pysvisysyn; U: First Pay: 2023-02-21; Registration: Djhuspjhjj; Z: First Pay: 2023-02-21; Registration: Hkmywqkmky;

Risk Retention

VL - Gwqc ZV/VJ - Uf

Pricing Speed

1/20/2026 CBC

Reset

Yes