# EDGAR Filing Document

**Accession Number:** 0001662983
**File Stem:** 0001104659-25-067303
**Filing Date:** 2025-7
**Character Count:** 17567
**Document Hash:** a9bed4a9a3378c2e141bcf10cbc45efd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-067303.hdr.sgml**: 20250711

**ACCESSION NUMBER**: 0001104659-25-067303

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

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20250711

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

**FILED AS OF DATE**: 20250711

**DATE AS OF CHANGE**: 20250711

**ABS RULE**: RULE-15GA2

**REGISTERED ENTITY**: N

**ABS ASSET CLASS**: Auto leases

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hyundai HK Lease, LLC
- **CENTRAL INDEX KEY:** 0001662983

**ORGANIZATION NAME:**
- **EIN:** 452770770
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02492
- **FILM NUMBER:** 251118297

**BUSINESS ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612
- **BUSINESS PHONE:** 949-468-4000

**MAIL ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612
**DEPOSITOR**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hyundai HK Lease, LLC
- **CENTRAL INDEX KEY:** 0001662983

**ORGANIZATION NAME:**
- **EIN:** 452770770
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

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

**BUSINESS ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612
- **BUSINESS PHONE:** 949-468-4000

**MAIL ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612
**SECURITIZER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Hyundai HK Lease, LLC
- **CENTRAL INDEX KEY:** 0001662983

**ORGANIZATION NAME:**
- **EIN:** 452770770
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** ABS-15G
- **SEC ACT:** Dodd Frank Act
- **SEC FILE NUMBER:** 025-02492

**BUSINESS ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612
- **BUSINESS PHONE:** 949-468-4000

**MAIL ADDRESS:**
- **STREET 1:** 3161 MICHELSON DRIVE
- **STREET 2:** SUITE 1900
- **CITY:** IRVINE
- **STATE:** CA
- **ZIP:** 92612

**UNITED STATES**<br> **SECURITIES AND EXCHANGE COMMISSION<br> Washington, D.C. 20549**

**FORM ABS-15G<br> ASSET-BACKED SECURITIZER<br> REPORT PURSUANT TO SECTION 15G OF<br> 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 <br> _________ to _________

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

---

| |
|:---|
| &nbsp;&nbsp;Date of Report (Date of earliest event reported) |
| &nbsp;&nbsp;Commission File Number of securitizer: |
| &nbsp;&nbsp;Central Index Key Number of securitizer: |

---

  <br> Name and telephone number, including area code, of the person to <br> 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)

**<u>Hyundai Auto Lease Securitization Trust 2025-C</u>** **<br> (Exact name of issuing entity as specified in its charter)**

Central Index Key Number of depositor: <u>0001662983</u> <br> Central Index Key Number of issuing entity (if applicable): <u>Not applicable</u> <br> Central Index Key Number of underwriter (if applicable): <u>Not applicable</u>

<u>Alisa Jardine, (949) 732-2975</u> <br> Name and telephone number, including area code, of the person to <br> contact in connection with this filing.

**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.

**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: July 11, 2025

---

| | |
|:---|:---|
| **Hyundai HK Lease, LLC** | **Hyundai HK Lease, LLC** |
| (Depositor) | (Depositor) |
| By: | /s/ Charley Yoon |
| Name: | Charley Yoon |
| Title: | President and Secretary and senior officer in charge of securitization |

---

**EXHIBIT INDEX**

---

| | |
|:---|:---|
| [**Exhibit 99.1**](tm2520231d1_ex99-1.htm) | [Independent Accountants' Report on Applying Agreed-Upon Procedures, dated July 10, 2025.](tm2520231d1_ex99-1.htm) |

---

## Exhibit 99.1

**Exhibit 99.1**

![](tm2520231d1_ex99-1img002.jpg)

KPMG LLP

Suite 700

20 Pacifica

Irvine, CA 92618-3391

**Independent Accountants' Agreed-Upon Procedures Report**

Hyundai Capital America (the "Company")

Re: Hyundai Auto Lease Securitization Trust ("HALST") 2025-C – Data File Procedures

We have performed the procedures described below on the specified attributes in an electronic data file entitled "HALST 2025-C Pool Tape Upsize (KPMG).xlsx" provided by the Company on June 17, 2025, containing information on 58,038 retail automobile and sport utility vehicle lease receivables ("Leases") as of June 16, 2025 (the "Data File"), which we were informed are intended to be included as collateral in the offering by HALST 2025-C. The Company is responsible for the specified attributes identified by the Company in the Data File.

The Company, and other third parties who execute an agreement with KPMG LLP, together the "Specified Parties," have agreed to and acknowledged that the procedures performed are appropriate to meet their intended purpose of assisting specified parties in evaluating the accuracy of the specified attributes in the Data File. This report may not be suitable for any other purpose. No other parties have agreed to or acknowledged the appropriateness of these procedures for the intended purpose or any other purpose.

The procedures performed may not address all the items of interest to a specified party of this report and may not meet the needs of all specified parties of this report and, as such, specified parties are responsible for determining whether the procedures performed are appropriate for their purposes. We make no representation regarding the appropriateness of the procedures either for the intended purpose or for any other purpose.

Unless otherwise stated, the following definitions have been adopted in presenting our procedures and findings:

· The
 term "compared" means compared to the information shown and found it to be in
 agreement, unless otherwise stated. Such compared information was deemed to be in agreement
 if differences were within the reporting threshold.

· The
 term "recomputed" means recalculated and compared the result to the information
 shown and found it to be in agreement, unless otherwise stated. Such recomputed information
 was deemed to be in agreement if differences were within the reporting threshold.

· The
 term "reporting threshold" means that dollar amounts and percentages were within
 $1.00 and 0.1%, respectively.

· The
 term "Instructions" means the instructions provided by the Company pertaining
 to a procedure, attribute, or methodology, as described in the procedures section below.

· The
 term "Cutoff Date" means June 16, 2025.

· The
 term "Title Document" means one of the title documents listed in email correspondence
 with the Company on June 24, 2025, which the Company informed us are acceptable forms
 of Title Document.

· The
 term "Acceptable Company Names" means the names listed in email correspondence
 with the Company on June 24, 2025, which the Company informed us are acceptable names
 for the Company that can appear in the Title Documents as the Lien Holder, Owner, or Security
 Interest Holder/Lessor.

KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with <br> KPMG International Limited, a private English company limited by guarantee.

![](tm2520231d1_ex99-1img003.jpg)

· The
 term "Insurance Document" means one of the insurance documents listed in email
 correspondence with the Company on June 24, 2025, which the Company informed us are
 acceptable forms of Insurance Document.

· The
 term "KSIOP System" means the Company's electronic lease system used to
 service the Leases.

· The
 term "Vehicle Model Mapping" means a schedule entitled "Master Model Mapping.xlsx"
 provided by the Company on June 24, 2025, containing the mapping of specific vehicle
 models to general vehicle models and vehicle types.

· The
 term "Sources" means the following information provided by the Company related
 to the Sample Leases (defined below):

Lease Contract, Notice of Change, Title Document, Insurance Document, Credit Application, DealerTrack Application, HCA Credit Decision, and/or Purchaser's Statement provided for each of the Sample Leases. We make no representation regarding the validity, enforceability, or authenticity of these documents;

– Records in the KSIOP System which we accessed via virtual desktop from June 20, 2025, through June 24, 2025, for each of the Sample Leases; and,

– Vehicle Model Mapping.

· The
 term "Provided Information" means the Instructions, Cutoff Date, Acceptable Company
 Names, and Sources.

The procedures we were instructed by the Company to perform and the associated findings are as follows:

A. We randomly selected a sample of 150 Leases from the Data File (the "Sample Leases").
 A listing of the Sample Leases was provided to the Company. For purposes of this procedure, the Company
 did not inform us of the basis they used to determine the number of Leases we were instructed to randomly
 select from the Data File.

B. For each Sample Lease, we compared or recomputed the specified attributes in the Data File listed
 below to or using the corresponding information included in the Sources, utilizing the Instructions,
 as applicable. The Specified Parties indicated that the absence of any of the information in the Sources
 or the inability to agree the indicated information from the Data File to the Sources for each of the
 attributes identified, utilizing the Instructions, as applicable, constituted an exception. The Sources
 are listed in the order of priority.

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Attribute</u> | <u>Sources / Instructions</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Capital Cost | Lease Contract, Notice of Change (if applicable), KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contract Residual Value | Lease Contract, Notice of Change (if applicable), KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monthly Payment Amount | Lease Contract, Notice of Change (if applicable), KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Contract Date | Lease Contract |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Original Term (number of months) | Lease Contract, Notice of Change (if applicable), KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Maturity Date | KSIOP System |

---

![](tm2520231d1_ex99-1img003.jpg)

---

| | |
|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>Attribute</u> | <u>Sources / Instructions</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Lease Payments Paid | KSIOP System<br>In the event the Total Lease Payments Paid stated in the Data File did not agree to the KSIOP System, disregard the KSIOP System value and recompute the Total Lease Payments Paid using the Payment Schedule in the KSIOP System, excluding any payment(s) processed after the Cutoff Date, any Security Deposits, and the Waterfall Payments information (in the "Allocated Payments" section) in the KSIOP System. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Base Delinquent Amount | KSIOP System<br>In the event the Base Delinquent Amount stated in the Data File did not agree to the KSIOP System, disregard the KSIOP System value and recompute the Base Delinquent Amount using the Payment Schedule in the KSIOP System and the Waterfall Payments information (in the "Allocated Payments" section) in the KSIOP System. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Base Residual Value | Compare to the lesser of: (i) the ALG Residual (stated in the "ALG MLI" column in the Data File), (ii) the Contract Residual value stated in the Data File, or (iii) the Updated ALG Residual Value<br> (stated in the "ALG MTM" column in the Data File). |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;State | Lease Contract (Lessee Address section), KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vehicle Make | Lease Contract |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vehicle Model | Lease Contract and Vehicle Model Mapping |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vehicle Type (New or Used) | KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Manufacturer's Suggested Retail Price (MSRP) | KSIOP System |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FICO Score | KSIOP System<br>If the FICO Score was greater than 900 in the KSIOP System, consider the information to be in agreement if the FICO Score stated in the Data File is "0." |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Factor | KSIOP System |

---

We found such information to be in agreement without exception.

![](tm2520231d1_ex99-1img003.jpg)

C. For each Sample Lease, we observed the presence of the following in the
 Sources:

· Title
 Document. We were instructed by the Company to observe that one of the Acceptable Company
 Names appeared in the Title Document as the Lien Holder, Owner, or Security Interest Holder/Lessor.

· Signed
 Credit Application. The Company informed us that a signed Credit Application, approved DealerTrack
 Application, approved HCA Credit Decision, or signed Purchaser's Statement was an acceptable
 form of credit application. We make no representation regarding the authenticity of the signature(s) on
 the Credit Application.

· Proof
 of Insurance. The Company informed us that an Insurance Document was an acceptable form of
 proof of insurance.

We found such information to be present.

We were engaged by the Company to perform this agreed-upon procedures engagement and conducted our engagement in accordance with attestation standards established by the American Institute of Certified Public Accountants, which involves us performing the specific procedures agreed to and acknowledged above and reporting on findings based on performing those procedures. We were not engaged to, and did not, conduct an examination or review, the objective of which would be the expression of an opinion or conclusion, respectively, on the specified attributes in the Data File. 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.

We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements related to our agreed-upon procedures engagement.

The procedures performed were applied based on the information included in the Data File and Provided Information, without verification or evaluation of such information by us; therefore, we express no opinion or any other form of assurance regarding (i) the reasonableness of the information provided to us by the Company, (ii) the physical existence of the Leases, (iii) the reliability or accuracy of the Provided Information which was used in our procedures, or (iv) matters of legal interpretation.

The procedures performed were not intended to address, nor did they address: (i) the conformity of the origination of the Leases to stated underwriting or credit extension guidelines, standards, criteria or other requirements, (ii) the value of collateral securing any such Leases being securitized, (iii) the compliance of the originator of the Leases with federal, state, and local laws and regulations, or (iv) any other factor or characteristic of the Leases that would be material to the likelihood that the issuer of the asset-backed notes will pay interest and principal in accordance with applicable terms and conditions. The procedures performed were not intended to satisfy any criteria for due diligence published by the nationally recognized statistical rating organizations ("NRSROs").

The terms of our engagement are such that we have no responsibility to update this report because of events and circumstances that may subsequently occur.

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

/s/KPMG LLP

Irvine, California

July 10, 2025