# EDGAR Filing Document

**Accession Number:** 0001950741
**File Stem:** 0001193125-23-004815
**Filing Date:** 2023-1
**Character Count:** 21342
**Document Hash:** cfb6e89e277947591dfbd69c193f337d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-004815.hdr.sgml**: 20230109

**ACCESSION NUMBER**: 0001193125-23-004815

**CONFORMED SUBMISSION TYPE**: ABS-15G

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20230109

**ITEM INFORMATION**: Findings and Conclusions of the Third Party Due Diligence Provider Obtained by the Issuer

**FILED AS OF DATE**: 20230109

**DATE AS OF CHANGE**: 20230109

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: Y

**ABS ASSET CLASS**: Auto leases

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NISSAN AUTO LEASING LLC II
- **CENTRAL INDEX KEY:** 0001244832
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 954885574
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02327
- **FILM NUMBER:** 23518689

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251127

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NISSAN AUTO LEASING LLC II
- **CENTRAL INDEX KEY:** 0001244832
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 954885574
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 333-258304-01

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251127

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NISSAN AUTO LEASING LLC II
- **CENTRAL INDEX KEY:** 0001244832
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 954885574
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02327

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251127

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
**ISSUING ENTITY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nissan Auto Lease Trust 2023-A
- **CENTRAL INDEX KEY:** 0001950741
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 926119434
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act

**BUSINESS ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067
- **BUSINESS PHONE:** 6157251127

**MAIL ADDRESS:**
- **STREET 1:** ONE NISSAN WAY, ROOM 5-124
- **CITY:** FRANKLIN
- **STATE:** TN
- **ZIP:** 37067

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Nissan Auto Lease Trust 2022-B
- **DATE OF NAME CHANGE:** 20221014

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**UNITED STATES** 

**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C. 20549** 

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**FORM ABS-15G** 

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**ASSET-BACKED SECURITIZER** 

**REPORT PURSUANT TO SECTION 15G OF** 

**THE SECURITIES EXCHANGE ACT OF 1934** 

**Check the appropriate box to indicate the filing obligation to which this form is intended to satisfy:** 

☐ **Rule 15Ga-1 under the Exchange Act (17 CFR 240.15Ga-1) for the reporting period<u> </u> to<u> </u>** 

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**(Exact name of securitizer as specified in its charter)** 

**Date of Report (Date of earliest event reported)<u> </u>** 

**Commission File Number of securitizer:<u> </u>** 

**Central Index Key Number of securitizer:<u> </u>** 

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**Name and telephone number, including area code, of the person** 

**to contact in connection with this filing.** 

Indicate by check mark whether the securitizer has no activity to report for the initial period pursuant to Rule 15Ga-1(c)(1) ☐

Indicate by check mark whether the securitizer has no activity to report for the quarterly period pursuant to Rule 15Ga-1(c)(2)(i) ☐

Indicate by check mark whether the securitizer has no activity to report for the annual period pursuant to Rule 15Ga-1(c)(2)(ii) ☐

☒ Rule 15Ga-2 under the Exchange Act (17 CFR 240.15Ga-2)

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## Nissan Auto Lease Trust 2023-A
**(Exact name of issuing entity as specified in its charter)** 

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| | |
|:---|:---|
| Central Index Key Number of depositor: | 0001244832 |
| Central Index Key Number of issuing entity (if applicable): | 0001950741 |
| Central Index Key Number of underwriter (if applicable): | Not applicable |

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**Timothy Hauck, (615) 571-9101** 

**Name and telephone number, including area code, of the person** 

**to contact in connection with this filing.** 

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**PART II - FINDINGS AND CONCLUSIONS OF THIRD-PARTY DUE DILIGENCE REPORTS** 

**Item 2.01 Findings and Conclusions of a Third-Party Due Diligence Report Obtained by the Issuer** 

The disclosures required by Rule 15Ga-2 (17 CFR 240.15Ga-2) are attached as Exhibit 99.1 to this Form ABS-15G.

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**SIGNATURES** 

Pursuant to the requirements of the Securities Exchange Act of 1934, the reporting entity has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: January 9, 2023

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| | |
|:---|:---|
| **Nissan Auto Leasing LLC II** | **Nissan Auto Leasing LLC II** |
| (Depositor) | (Depositor) |
| By: | /s/ Douglas E. Gwin, Jr. |
| Name: | Douglas E. Gwin, Jr. |
| Title: | Assistant Treasurer |

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**EXHIBIT INDEX** 

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| | |
|:---|:---|
| **Exhibit 99.1** | Report of Independent Accountants on Applying Agreed-Upon Procedures, dated January 6, 2023. |

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## Exhibit 99.1

**Exhibit 99.1** 

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| | | |
|:---|:---|:---|
| ![LOGO](g416340g0909060544004.jpg) | Ernst & Young LLP<br> One Manhattan West<br> New York, NY 10001 | Tel: +1 212 773 3000<br> Fax: +1 212 773 6350<br> ey.com |

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**Report of Independent Accountants on Applying Agreed-Upon Procedures** 

Nissan Auto Leasing LLC II 6 January 2023

Nissan Motor Acceptance Company LLC

One Nissan Way

Franklin, Tennessee 37067

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| | |
|:---|:---|
| **Re:** | **Nissan Auto Lease Trust 2023-A (the "Issuing Entity")**  |

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**Asset-Backed Notes (the "Notes")** 

**Sample Lease Agreed-Upon Procedures** 

We have performed the procedures enumerated in Attachment A, which were agreed to and acknowledged as appropriate by Nissan Auto Leasing LLC II (the "Depositor"), Nissan Motor Acceptance Company LLC (the "Sponsor"), BofA Securities, Inc. ("BofA Securities"), BNP Paribas Securities Corp. ("BNP Paribas"), MUFG Securities Americas Inc. ("MUFG") and SG Americas Securities, LLC ("Societe Generale," together with the Depositor, Sponsor, BofA Securities, BNP Paribas and MUFG, the "Specified Parties"), for the intended purpose of assisting the Specified Parties in evaluating certain information relating to a pool of motor vehicle retail closed-end leases (the "Leases") and the corresponding leased vehicles and assets relating to the Issuing Entity's securitization transaction. This report may not be suitable for any other purpose. The procedures performed may not address all of the items of interest to a user of the report and may not meet the needs of all users of the report and, as such, users are responsible for determining whether the procedures performed are appropriate for their purposes. The appropriateness of these procedures is solely the responsibility of the Specified Parties identified in this report. No other party acknowledged the appropriateness of the procedures. Consequently, we make no representation regarding the appropriateness of the procedures described in Attachment A, either for the purpose for which this report has been requested or for any other purpose.

The procedures performed and our associated findings are included in Attachment A.

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| | |
|:---|:---|
| ![LOGO](g416340g0909060544004.jpg) | Page 2 of 3 |

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For the purpose of the procedures described in this report, the Sponsor, on behalf of the Depositor, provided us with, or instructed us to obtain, as applicable:

a. Electronic data files:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Labeled "NALT 22-B Preliminary Pool 09.30.22 vF.txt" and the
corresponding record layout and decode information, as applicable (the "Initial Preliminary Data File"), that the Sponsor, on behalf of the Depositor, indicated contains information as of 30 September 2022
(the "Preliminary Cutoff Date") relating to certain motor vehicle retail closed-end leases (the "Preliminary Leases") that are expected to be representative of the Leases and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Labeled "NALT 2022-B Auto Decision File 9.30.22.xlsx" and the
corresponding record layout and decode information, as applicable (the "Preliminary Auto Decision Data File," together with the Initial Preliminary Data File, the "Provided Preliminary Data Files"), that the Sponsor, on
behalf of the Depositor, indicated contains information as of the Preliminary Cutoff Date relating to the approval type for each Preliminary Lease,

b. Imaged copies of:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. The motor vehicle lease agreement and accompanying dealer lease worksheet, correction notice, application
status or other related documents (collectively and as applicable, the "Contract"),

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. Certain printed screen shots and payment histories from the Sponsor's lease servicing system
(the "System Screen Shots") and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. The certificate of title, application for certificate of ownership, application for title, online vehicle
report or other related documents (collectively and as applicable, the "Title," together with the Contract and System Screen Shots, the "Source Documents")

that the Sponsor, on behalf of the Depositor, indicated relate to each Sample Lease (as defined in Attachment A), as applicable,

c. The list of relevant characteristics (the "Sample Characteristics") on the Preliminary Data File
(as defined in Attachment A), which is shown on Exhibit 1 to Attachment A, and

d. Instructions, assumptions and methodologies, which are described in Attachment A.

For the purpose of the procedures described in this report, certain information contained on the Preliminary Data File is the "Subject Matter" as of the date of this report.

The procedures included in Attachment A were limited to comparing, recalculating or observing, as applicable, certain information that is further described in Attachment A. The Depositor is responsible for the Subject Matter, Provided Preliminary Data Files, Source Documents, Sample Characteristics and the determination of the instructions, assumptions and methodologies that are described herein. We were not requested to perform, and we have not performed, any procedures other than those listed in Attachment A. We have not verified, and we make no representation as to, the accuracy, completeness or reasonableness of the Provided Preliminary Data Files, Source Documents or any other information provided to us by the Sponsor, on behalf of the Depositor, upon which we relied in forming our findings. Accordingly, we make no representation and express no opinion or conclusion as to (a) the existence of the Preliminary Leases or Leases, (b) questions of legal or tax interpretation or (c) the appropriateness, accuracy, completeness or reasonableness of any instructions, assumptions and methodologies provided to us by the Sponsor, on behalf of the Depositor, that are described in this report. We undertake no responsibility to update this report for events and circumstances occurring after the date hereof.

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| | |
|:---|:---|
| ![LOGO](g416340g0909060544004.jpg) | Page 3 of 3 |

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This agreed-upon procedures engagement was conducted in accordance with attestation standards established by the American Institute of Certified Public Accountants (the "AICPA"). An agreed-upon procedures engagement involves the practitioner performing specific procedures that the Specified Parties have agreed to and acknowledged to be appropriate for the purpose of the engagement and reporting on findings based on the procedures performed. We were not engaged to, and did not, conduct an examination to express an opinion or a review to express a conclusion in accordance with attestation standards established by the AICPA on any of the items referred to herein. Accordingly, we do not express such an opinion or conclusion. Had we performed additional procedures, other matters might have come to our attention that would have been reported to you.

The agreed-upon procedures described in this report were not performed for the purpose of:

a. Satisfying any criteria for due diligence published by a nationally recognized statistical rating organization
(a "rating agency") or

b. Making any findings with respect to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;i. Whether the origination of the Leases conformed to, or deviated from, stated underwriting or credit extension
guidelines, standards, criteria or other requirements,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ii. The value of the collateral securing the Leases,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iii. Whether the originator(s) of the Leases complied with federal, state or local laws or regulations or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;iv. Any other factor or characteristic of the Leases that would be material to the likelihood that the issuer of
the Notes will pay interest and principal in accordance with applicable terms and conditions.

We are required to be independent of the Depositor and to meet our other ethical responsibilities, as applicable for agreed-upon procedures engagements set forth in the Preface: Applicable to All Members and Part 1 – Members in Public Practice of the Code of Professional Conduct established by the AICPA. Independence requirements for agreed-upon procedure engagements are less restrictive than independence requirements for audit and other attestation services.

This report is intended solely for the information and use of the Specified Parties and is not intended to be, and should not be, used by anyone other than the Specified Parties. It is not intended to be, and should not be, used by any other person or entity, including investors and rating agencies, who are not identified in the report as Specified Parties but who may have access to this report as required by law or regulation.

/s/ Ernst & Young LLP

6 January 2023

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| | |
|:---|:---|
| ![LOGO](g416340g0909060544004.jpg) | **Attachment A** |

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**<u>Procedures performed and our associated findings</u>**

1. As instructed by the Sponsor, on behalf of the Depositor, we randomly selected a sample of 125 Preliminary
Leases from the Initial Preliminary Data File (the "Sample Leases"). For the purpose of this procedure, the Sponsor, on behalf of the Depositor, did not inform us as to the basis for how they determined the number of Sample Leases or
the methodology they instructed us to use to select the Sample Leases from the Initial Preliminary Data File.

For the purpose of the procedures described in this report, the 125 Sample Leases are referred to as Sample Lease Numbers 1 through 125.

2. As instructed by the Sponsor, on behalf of the Depositor, we appended the information for each Preliminary
Lease on the Initial Preliminary Data File with the corresponding approval type (the "Auto Decision"), as shown on the Preliminary Auto Decision Data File. The Initial Preliminary Data File, as adjusted, is hereinafter referred to as
the "Preliminary Data File."

3. For each Sample Lease, we:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Compared the Sample Characteristics listed on Exhibit 1 to Attachment A, as shown on the Preliminary Data File,
to the corresponding information located in the Source Documents, subject to the instructions, assumptions and methodologies provided by the Sponsor, on behalf of the Depositor, described in the notes to Exhibit 1 to Attachment A. The Source
Document(s) that we were instructed by the Sponsor, on behalf of the Depositor, to use for each Sample Characteristic are shown on Exhibit 1 to Attachment A. Except for the information shown on Exhibit 2 to Attachment A, all such compared
information was found to be in agreement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Observed that the corresponding Contract contained a signature in the lessee signature section of such
Contract. We performed no procedures to determine the validity of the signature contained in the lessee signature section of such Contract.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Observed that the Sponsor or Nissan-Infiniti LT LLC ("NILT")
(or an entity or subsidiary of NILT) was the named lien holder or owner in the Title, or that the lien holder or owner had assigned the motor vehicle securing the Sample Lease to the Sponsor or NILT (or an entity or subsidiary of NILT), as
applicable.

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**Exhibit 1 to Attachment A**<br> Page 1 of 2<br>

**<u>Sample Characteristics and Source Documents</u>**

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| | | | |
|:---|:---|:---|:---|
| **Sample Characteristic** | **Preliminary**<br> **Data File Field Name** | **Source Document(s)** | **Note(s)** |
| Lease number | LEASENUMBER | System Screen Shots | i. |
| Vehicle model year | MODEL YEAR | Contract and System Screen Shots |  |
| Vehicle make | MAKE | Contract and System Screen Shots |  |
| Vehicle model | MODEL | Contract and System Screen Shots |  |
| Vehicle age classification (new/used) | NEW-USED CODE | Contract |  |
| Monthly base payment amount | BASE RENT | Contract and System Screen Shots | ii. |
| Original term to maturity | ORIGINAL TERM | Contract and System Screen Shots |  |
| Adjusted capitalized cost | CAPCOST | Contract | ii. |
| Contract residual value | CONTRACT RESIDUAL | Contract |  |
| Adjusted manufacturer's suggested retail price | MSRP | Contract or System Screen Shots |  |
| Lease rate (money factor) | LEASE RATE | Contract | iii. |
| E-contract (Y/N) | E-CONTRACT | Contract |  |
| VIN | VIN | Contract, System Screen Shots and Title |  |
| Paid thru date | PAID-TO-DATE | System Screen Shots | iv. |
| Maturity date | MATURITY DATE | System Screen Shots |  |
| Remaining term to maturity | REMAINING PAYMENTS | System Screen Shots | iv. |
| Product type | PRODUCT TYPE | System Screen Shots |  |
| FICO score | CREDIT SCORE | System Screen Shots |  |
| Customer borrower state | CUSTOMER STATE | System Screen Shots |  |
| Approval type | Auto Decision | System Screen Shots |  |
| Original first payment date | FIRST PAYMENT DATE | System Screen Shots |  |

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**Exhibit 1 to Attachment A**<br> Page 2 of 2<br>

**<u>Notes</u>:** 

i. For identification purposes only.

ii. For the purpose of comparing the indicated Sample Characteristics for each Sample Lease, the Sponsor, on behalf
of the Depositor, instructed us to ignore differences of +/- $1.00 or less.

iii. For the purpose of comparing the lease rate (money factor) Sample Characteristic for each Sample Lease (subject
to the additional instruction(s) provided by the Sponsor, on behalf of the Depositor, described in the succeeding paragraph(s) of this note), the Sponsor, on behalf of the Depositor, instructed us to:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Use the Contract as the Source Document and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Round the lease rate (money factor), as shown in the Contract, to the fifth decimal place (XX.XXXXX), as
applicable.

For the purpose of comparing the lease rate (money factor) Sample Characteristic for each Sample Lease, the Sponsor, on behalf of the Depositor, instructed us to ignore differences of +/- 0.00001 or less.

iv. The Sponsor, on behalf of the Depositor, indicated that certain of the System Screen Shots contained account
activity which occurred after the Preliminary Cutoff Date. For the purpose of comparing the indicated Sample Characteristics for each Sample Lease, the Sponsor, on behalf of the Depositor, instructed us to only consider account activity shown in the
System Screen Shots which occurred on or prior to the Preliminary Cutoff Date.

We performed no procedures to determine the accuracy, completeness or reasonableness of the instructions, assumptions and methodologies provided by the Sponsor, on behalf of the Depositor, described in the notes above.

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**Exhibit 2 to Attachment A**

**<u>Sample Characteristic Differences</u>**

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| | | | |
|:---|:---|:---|:---|
| **Sample Lease Number** | **Sample**<br> **Characteristic** | **Preliminary**<br> **Data File Value** | **Source**<br> **Document Value** |
| 89 | Paid thru date | 10/21/2022 | 9/21/2022 |
| 107 | Adjusted manufacturer's suggested retail price | $54195.00 |  |

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