FORT WORTH, Texas — General Motors Financial revealed Wednesday the pricing of a $900 million offering of automobile receivables-backed securities.

The weighted average coupon on the notes to be paid by GM Financial is 2.9 percent.

Moreover, the 2011-5 transaction will have initial credit enhancement of 7.75 percent, consisting of a 2.00 percent cash deposit and 5.75 percent overcollateralization.

The total required enhancement will  build to 14.75 percent of the then-outstanding receivable pool balance, which includes the initial cash deposit.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2011-5, in seven classes of notes, as follows:

Note Class  Amount   Average Life Price   Interest Rate
 A-1  $147,300,000  0.24 years  100.00000  0.43326 percent
 A-2  $344,600,000  1.10 years  99.99560  1.19 percent
A-3   $145,983,000  2.35 years  99.99772  1.55 percent
 B  $69,231,000  3.03 years  99.98706  2.45 percent
 C  $85,943,000  3.60 years  99.97238  3.44 percent
 D  $84,510,000 4.08 years  99.99053  5.05 percent
 E  $22,433,000  4.10 years  99.97851  6.76 percent

The Note Classes are rated by Moody’s and Standard & Poor’s. The ratings by Note Class will be at least:

Note Class Moody's   Standard & Poor's
 A-1  P-1 (sf)  A-1+(sf)
 A-2 Aaa(sf)  AAA(sf)
 A-3 Aaa(sf)  AAA(sf)
 B  Aa2(sf)  AA(sf)
 C  A2(sf)  A(sf)
 D  Baa2(sf)  BBB(sf)
 E  Ba3(sf)  BB(sf)

Officials also stressed that GM Financial uses net proceeds from securitization transactions for long-term financing of its receivables.

The aforementioned securities are offered  through lead managers Deutsche Bank Securities, Morgan Stanley, RBS and UBS Investment Bank.

Co-managers are Credit Suisse, J.P. Morgan and Wells Fargo Securities, the company noted.