# EDGAR Filing Document

**Accession Number:** 0000350698
**File Stem:** 0001193125-25-274568
**Filing Date:** 2025-11
**Character Count:** 7758
**Document Hash:** 1ebaf2567135d2883c21212dfdbee8a0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-274568.hdr.sgml**: 20251110

**ACCESSION NUMBER**: 0001193125-25-274568

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20251110

**DATE AS OF CHANGE**: 20251110

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AUTONATION, INC.
- **CENTRAL INDEX KEY:** 0000350698
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 731105145
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-284995
- **FILM NUMBER:** 251467397

**BUSINESS ADDRESS:**
- **STREET 1:** 200 SW 1ST AVE
- **STREET 2:** SUITE 1600
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301
- **BUSINESS PHONE:** 9547696000

**MAIL ADDRESS:**
- **STREET 1:** 200 SW 1ST AVE
- **STREET 2:** SUITE 1600
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUTONATION, INC. /FL
- **DATE OF NAME CHANGE:** 20090827

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AutoNation, Inc. /FL
- **DATE OF NAME CHANGE:** 20090827

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUTONATION INC /FL
- **DATE OF NAME CHANGE:** 19990407
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AUTONATION, INC.
- **CENTRAL INDEX KEY:** 0000350698
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 731105145
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 200 SW 1ST AVE
- **STREET 2:** SUITE 1600
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301
- **BUSINESS PHONE:** 9547696000

**MAIL ADDRESS:**
- **STREET 1:** 200 SW 1ST AVE
- **STREET 2:** SUITE 1600
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUTONATION, INC. /FL
- **DATE OF NAME CHANGE:** 20090827

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AutoNation, Inc. /FL
- **DATE OF NAME CHANGE:** 20090827

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUTONATION INC /FL
- **DATE OF NAME CHANGE:** 19990407

**Issuer Free Writing Prospectus** 

**Filed by: AutoNation, Inc.** 

**Pursuant to Rule 433 under the Securities Act of 1933** 

**Registration Statement on Form S-3: No. 333-284995** 

**AUTONATION, INC.** 

**$600,000,000 4.450% SENIOR NOTES DUE 2029** 

**PRICING TERM SHEET** 

**November 10, 2025** 

This term sheet to the preliminary prospectus supplement dated November 10, 2025 should be read together with the preliminary prospectus supplement before making a decision in connection with an investment in the securities. The information in this term sheet supersedes the information contained in the preliminary prospectus supplement to the extent that it is inconsistent therewith. Terms used but not defined herein have the meaning ascribed to them in the preliminary prospectus supplement.

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| | |
|:---|:---|
| **Issuer:** | AutoNation, Inc.  |
| **Ratings**<br> **(Moody's/S&P/Fitch)\*:** | Baa3/BBB-/BBB- |
| **Security Type:** | Senior Unsecured Notes |
| **Format:** | SEC Registered |
| **Title of Securities:** | 4.450% Senior Notes due 2029 (the "Notes") |
| **Aggregate Principal Amount:** | $600000000 |
| **Net Proceeds (after deducting the underwriting discount and before expenses):** | $596676000 |
| **Maturity Date:** | January 15, 2029 |
| **Interest Rate:** | 4.450% |
| **Public Offering Price:** | 99.846% of the principal amount, plus accrued interest, if any, from November 14, 2025 |
| **Yield to Maturity:** | 4.499% |
| **Benchmark Treasury:** | 3.500% due October 15, 2028 |
| **Spread to Benchmark Treasury:** | +90 bps |

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| | |
|:---|:---|
| **Benchmark Treasury Price / Yield:** | 99-23 ¼ / 3.599% |
| **Interest Payment Dates:** | January 15 and July 15 of each year, commencing on July 15, 2026 |
| **Interest Payment Record Dates:** | January 1 and July 1 of each year |
| **Optional Redemption:** | Make-whole call at any time prior to December 15, 2028 (one month prior to maturity) (the "Par Call Date") at a discount rate of the applicable Treasury Rate plus 15 basis points; callable at 100% at any time on or after the Par Call Date; plus, in each case, accrued and unpaid interest to, but not including, the redemption date. |
| **Change of Control Repurchase Event:** | If a Change of Control Repurchase Event occurs, subject to certain exceptions, each holder will have the right to require that the Company purchase all or a portion of such holder's Notes at a purchase price equal to 101% of the aggregate principal amount of such Notes plus accrued and unpaid interest to, but excluding, the date of repurchase. |
| **Trade Date:** | November 10, 2025 |
| **Settlement Date:** | November 14, 2025 (T+3)<br>It is expected that delivery of the Notes will be made against payment therefor on or about November 14, 2025, which is the third business day following the date hereof (such settlement cycle being referred to as "T+3"). Under Rule 15c6-1 under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), trades in the secondary market generally are required to settle in one business day unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the Notes more than one business day prior to the delivery of the Notes will be required, by virtue of the fact that the Notes initially will settle in T+3, to specify an alternative settlement cycle at the time of any such trade to prevent failed settlement. Such purchasers should consult their own advisors. |
| **CUSIP:** | 05329W AU6 |
| **ISIN:** | US05329WAU62 |

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| | |
|:---|:---|
| **Joint Book-Running Managers:** | BofA Securities, Inc.<br> Mizuho Securities USA LLC<br> Truist Securities, Inc.<br> Wells Fargo Securities, LLC<br> U.S. Bancorp Investments, Inc. |
| **Senior Co-Manager:** | TD Securities (USA) LLC |
| **Co-Managers:** | Santander US Capital Markets LLC<br> Huntington Securities, Inc.<br> R. Seelaus & Co., LLC |

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\* A securities rating is not a recommendation to buy, sell or hold securities and may be subject to revision or withdrawal at any time. Each securities rating should be evaluated independent of each other securities rating.

**Where similar language or information to that set forth above appears in other sections of the preliminary prospectus supplement dated November 10, 2025, that language or information is deemed modified accordingly as set forth above.** 

The issuer has filed a registration statement (including a prospectus and a prospectus supplement) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus and prospectus supplement in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may obtain these documents for free by visiting EDGAR on the SEC website at *www.sec.gov*. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus and the prospectus supplement if you request them by calling BofA Securities, Inc. at 1-800-294-1322 (email dg.prospectus_requests@bofa.com) or Mizuho Securities USA LLC at 1-866-271-7403 or Truist Securities, Inc. at 1-800-685-4786 (email TSIdocs@Truist.com) or Wells Fargo Securities, LLC toll-free at 1-800-645-3751 (email wfscustomerservice@wellsfargo.com).