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$534,330,000 Floating Rate Class A-FL Private Education Loan-Backed Notes
$534,330,000 Fixed Rate Class A-FX Private Education Loan-Backed Notes
$186,410,000 Fixed Rate Class B Private Education Loan-Backed Notes
$74,700,000 Fixed Rate Class C Private Education Loan-Backed Notes
$34,990,000 Fixed Rate Class D Private Education Loan-Backed Notes
Date of Issue: October 27, 2021
Issue Amount: $1,364,760,000
Securities Offered:
Class A-FL Floating Rate Asset-Backed Notes in the aggregate principal amount of
$534,330,000
Rate: One-Month LIBOR +0.69%
CUSIP: 64034YAA9
ISIN: US64034YAA91
Class A-FX Fixed Rate Asset-Backed Notes in the aggregate principal amount of
$534,330,000
Rate: 1.63%
CUSIP: 64034YAB7
ISIN: US64034YAB74
Class B Fixed Rate Asset-Backed Notes in the aggregate principal amount of
$186,410,000
Rate: 2.90%
CUSIP: 64034YAC5
ISIN: US64034YAC57
Class C Fixed Rate Asset-Backed Notes in the aggregate principal amount of
$74,770,000
Rate: 3.50%
CUSIP: 64034YAD3
ISIN: US64034YAD31
Class D Fixed Rate Asset-Backed Notes in the aggregate principal amount of
$34,990,000
Rate: 4.38%
CUSIP: 64034YAE1
ISIN: US64034YAE14
Rule 144A European Common Codes
Class A-FL Notes: 240427699
Class A-FX Notes: 240427702
Class B Notes: 240427745
Class C Notes: 240427753
Class D Notes: 240427761
Regulation S European Common Codes
Class A-FL Notes: 240427770
Class A-FX Notes: 240427796
Class B Notes: 240427800
Class C Notes: 240427818
Class D Notes: 240427834
Servicer: Nelnet Servicing, LLC (d/b/a Firstmark Services)
Administrator: National Education Loan Network, Inc.
Indenture Trustee: U.S. Bank, National Association
Initial Purchasers:
BofA Securities
Citigroup
Goldman Sachs & Co. LLC
Mizuho Securities
RBC Capital Markets
Wells Fargo Securities
Initial Rating:
Class A Notes
Aaa Moody's
AAA DBRS
Class B Notes
AA DBRS
Class C Notes
A DBRS
Class D Notes
BBB DBRS