Obligation CARS ALLIANCE GERMANY AUTO LOANS 1% ( FR0013484425 ) en EUR

CARS ALLIANCE GERMANY AUTO LOANS

100 % ⇌

Allemagne

FR0013484425 ( en EUR )

1% par an ( paiement mensuel )

18/03/2035

Prospectus brochure de l'obligation CARS ALLIANCE AUTO LOANS GERMANY MASTER FR0013484425 en EUR 1%, échéance 18/03/2035

18/04/2026 ( Dans 24 jours )

CARS ALLIANCE AUTO LOANS GERMANY MASTER est une société de courtage en prêts automobiles opérant en Allemagne, spécialisée dans l'assistance à l'obtention de financements pour l'achat de véhicules.

L'Obligation émise par CARS ALLIANCE GERMANY AUTO LOANS ( Allemagne ) , en EUR, avec le code ISIN FR0013484425, paye un coupon de 1% par an.
Le paiement des coupons est mensuel et la maturité de l'Obligation est le 18/03/2035

CARS ALLIANCE AUTO LOANS GERMANY MASTER
FONDS COMMUN DE TITRISATION
(Articles L. 214-167 to L. 214-175-8, Articles L. 214-180 to L. 214-186
and Articles R. 214-217 to R. 214-235 of the French Monetary and Financial Code)
EUR 3,000,000,000 Class A Asset Backed Fixed Rate Notes Issuance Programme
EuroTitrisation
HSBC Continental Europe
Management Company
Custodian
CARS ALLIANCE AUTO LOANS GERMANY MASTER (the "Issuer") is a French securitisation fund (fonds commun de titrisation) jointly established by EuroTitrisation (the "Management
Company") and RCI Banque, as custodian until (and including) the Monthly Payment Date falling in March 2018. As from (and excluding) the Monthly Payment Date falling in March 2018,
HSBC Continental Europe is the custodian (the "Custodian"). The Issuer is regulated by Articles L. 214-167 to L. 214-186 and Articles R. 214-217 to R. 214-235 of the French Monetary and
Financial Code and the Issuer Regulations made on 14 March 2014 between EuroTitrisation and RCI Banque, as amended and restated on 15 March 2018 between EuroTitrisation and HSBC
Continental Europe (see "Description of The Issuer - Issuer Regulations" herein). The Issuer has been established on 18 March 2014 (the "Issuer Establishment Date").
In accordance with Article L. 214-168 I and Article L. 214-175-1 I of the French Monetary and Financial Code and pursuant to the terms of the Issuer Regulations, the purpose of the Issuer is to
(a) be exposed to credit risks by acquiring Eligible Receivables (as defined below) from RCI Banque S.A., Niederlassung Deutschland, the German branch of RCI Banque S.A. (the "Seller")
during the Revolving Period (as defined below) and (b) finance and hedge in full such credit risks by issuing the Notes on each Issue Date (as defined below) and the Units on the Issuer
Establishment Date. In accordance with Article R. 214-217 2° of the French Monetary and Financial Code and pursuant to the terms of the Issuer Regulations, the funding strategy (stratégie de
financement) of the Issuer is to issue Series of Class A Notes and the Class B Notes during the Revolving Period and the Units (on the Issuer Establishment Date only) in order to purchase from the
Seller on each Transfer Date during the Revolving Period portfolios of German retail auto loan receivables (the "Receivables") arising from fixed rate auto loan agreements governed by German
law (the "Auto Loan Agreements") granted by the Seller to certain Borrowers in order to finance the purchase of either new cars produced under the brands of the Renault Group and/or Nissan
brands or used cars produced by any car manufacturers and sold by certain cars dealers in the commercial networks of Renault Group and/or Nissan in Germany.
Subject to compliance with all relevant laws, regulations and terms and conditions of the Issuer Regulations, the Issuer may from time to time on any Issue Date issue Class A Notes the terms and
conditions of which are set out in section "Terms and Conditions of the Class A Notes" (the "Class A Notes"). The Issuer may also issue from time to time, on any Issue Date, the Class B Notes.
On the Closing Date the Issuer also issued the Units (each as defined herein). All Notes within any of the specified Class of Notes referred to above and issued on any given Issue Date shall
constitute a series (a "Series") of such Class of Notes. With respect to the issue of any Series of Class A Notes, the financial terms relating thereto will be specified in the related final terms (the
"Final Terms") which should be read in conjunction with this Base Prospectus. A form of Final Terms is set out in section "Form of Final Terms" of this Base Prospectus.
This Base Prospectus constitutes a base prospectus within the meaning of Article 8 of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus
to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (the "Prospectus Regulation"). This Base Prospectus is
valid until 12 April 2022 and shall be updated once a year by way of a new base prospectus (a "New Base Prospectus"). Any New Base Prospectus will supersede and replace all previous base
documents and all previous supplements (if any) prepared in relation to the Class A Notes. Any Class A Notes issued by the Issuer on or after the date of any New Base Prospectus shall be issued
subject to the terms provided therein. The Base Prospectus replaces and supersedes the base prospectus dated 14 April 2020.
Application has been made to the Commission de Surveillance du Secteur Financier in Luxembourg (the "CSSF") in its capacity as competent authority under the Luxembourg law
dated 16 July 2019 on prospectus for securities, for the approval of this Base Prospectus for the purposes of the Prospectus Regulation. By approving this Base Prospectus, the CSSF gives no
undertaking as to the economic and financial opportuneness of the transaction or the quality or solvency of the Issuer in line with the provisions of Article 6(4) of the Luxembourg law
dated 16 July 2019 on prospectuses for securities. The CSSF has not reviewed and not approved any information in relation to the Class B Notes and the Units. Application has been
made to list the Class A Notes issued by the Issuer on the official list of the Luxembourg Stock Exchange and to admit the Class A Notes to trading on the regulated market, or segment
thereof limited to qualified investors, of the Luxembourg Stock Exchange. The Luxembourg Stock Exchange is a regulated market for the purposes of the Markets in Financial
Instruments Directive 2014/65/EU. No application will be made for the Class B Notes and the Units to be listed on the official list of the Luxembourg Stock Exchange and admitted to
trading on the regulated market of the Luxembourg Stock Exchange.
The Class A Notes will be issued in the denomination of 100,000 each and in bearer dematerialised form (obligations de fonds commun de titrisation émises en forme dématérialisée et au
porteur) in accordance with Article L. 211-3 of the French Monetary and Financial Code. No physical documents of title will be issued in respect of the Class A Notes. The Class A Notes will be
inscribed as from each applicable Issue Date in the books of Euroclear France ("Euroclear France") which shall credit the accounts of Euroclear France Account Holders (as defined in "Terms
and Conditions of the Class A Notes") including Clearstream Banking S.A. ("Clearstream") and Euroclear Bank SA/NV, as operator of the Euroclear System ("Euroclear"). The Class B Notes
are not the subject of the offering made in accordance with this Base Prospectus. Interest on the Class A Notes is payable by reference to successive Interest Periods (as defined herein). Interest on
the Class A Notes will be payable monthly in arrears in euro on the 18th of each of calendar month (subject to adjustments), or, if any such day is not a Business Day (as defined herein), the next
following Business Day or, if that Business Day falls in the next calendar month, the immediately preceding Business Day (each such day being a "Monthly Payment Date").
The Class A Notes are subject to mandatory pro rata redemption in whole or in part from time to time on each Monthly Payment Date following the Closing Date. The aggregate amount to be
applied in mandatory pro rata redemption in whole or in part of the Class A Notes will be calculated in accordance with the provisions set out in Condition 5 (Amortisation). In certain other
circumstances, and at certain times, all (but not some only) of the Class A Notes may be redeemed at the option of the Issuer at their principal outstanding amount together with accrued interest
(see Condition 4 (Interest) and Condition 5 (Amortisation)). Following the occurrence of a Partial Amortisation Event (as defined herein) during the Revolving Period, the Class A Notes shall be
partially amortised. Unless previously redeemed, the Class A Notes will be cancelled on the Monthly Payment Date falling in 18 March 2035 (the "Legal Final Maturity Date").
If any withholding tax or any deduction for or on account of tax is applicable to the Class A Notes, payments of principal and of interest on the Class A Notes will be made subject to any such
withholding or deduction, without the Issuer being obliged to pay additional amounts as a consequence of such withholding or deduction.
The Class A Notes and the Class B Notes represent interests in the same pool of Transferred Receivables (as defined herein) but the Class A Notes rank pari passu and rateably as to each other and
in priority to the Class B Notes, in the event of any shortfall in funds available to pay principal or interest on the Notes. No assurance is given as to the amount (if any) of interest or principal on
the Class A Notes and the Class B Notes which may actually be paid on any given Monthly Payment Date. Each Note of a particular Class will rank pari passu without any preference or priority
with the other Notes of the same Class, all as more particularly described in Condition 2 (Status and Ranking of the Class A Notes; Relationship between the Notes).
It is expected that the Class A Notes will, when issued, be assigned an "AAA(sf)" rating by DBRS Rating Limited ("DBRS") and an "AAA(sf)" rating by Standard & Poor's Market Services

Europe Limited ("Standard & Poor's") and, together with DBRS, the "Rating Agencies" and each a "Rating Agency"). A security rating is not a recommendation to buy, sell or hold
securities and may be subject to revision, suspension or withdrawal at any time by the Rating Agencies. The credit ratings included or referred to in this Base Prospectus will be treated for
the purposes of Regulation (EC) No 1060/2009 on credit rating agencies (the "CRA Regulation") as having been issued by DBRS and Standard & Poor's upon registration pursuant to the CRA
Regulation. DBRS Ratings Limited and Standard & Poor's are registered under the CRA Regulation. As such DBRS Ratings Limited and Standard & Poor's are included in the list of credit rating
agencies published by the European Securities and Markets Authority on its website (http://www.esma.europa.eu/page/List-registered-and-certified-CRAs) as of the date of this Base Prospectus in
accordance with the CRA Regulation.
The Seller, as "originator" for the purposes of Article 6(1) of Regulation (EU) 2017/2402 of the European Parliament and of the Council of 12 December 2017 laying down a general framework for
securitisation and creating a specific framework for simple, transparent and standardised securitisation, and amending Directives 2009/65/EC, 2009/138/EC and 2011/61/EU and Regulations (EC)
No 1060/2009 and (EU) No 648/2012 (the "Securitisation Regulation"), has undertaken that, for so long as any Class A Note remains outstanding, it (i) will retain on an ongoing basis a material
net economic interest in the securitisation of not less than five (5) per cent., (ii) at all relevant times comply with the requirements of Article 7(l)(e)(iii) of the Securitisation Regulation by
confirming in the investor reports the risk retention of the Seller as contemplated by Article 6(1) of the Securitisation Regulation, (iii) not change the manner in which it retains such material net
economic interest, except to the extent permitted by the Securitisation Regulation and (iv) not sell, hedge or otherwise enter into any credit risk mitigation, short position or any other credit risk
hedge with respect to its retained material net economic interest, except to the extent permitted by the Securitisation Regulation (see "SECURITISATION REGULATION COMPLIANCE
Retention Statement").
A discussion of certain factors, which should be considered by prospective holders of the Class A Notes in connection with an investment in the Class A Notes, is set out in section
entitled "Risk Factors".
Arranger
HSBC
This Base Prospectus is dated 12 April 2021

Responsibility Statements
EuroTitrisation as the Management Company accepts responsibility for the information contained in this base
prospectus. To the best of the knowledge and belief of the Management Company (having taken all
reasonable care to ensure such is the case), the information contained in this base prospectus is in
accordance with the facts and does not omit anything likely to affect the import of such information. The
Management Company accepts responsibility accordingly.
The Management Company also confirms that, so far as they are aware, all information in this Base
Prospectus that has been sourced from a third party has been accurately reproduced and that, as far as they
are aware and have been able to ascertain from information published by the relevant third party, no facts
have been omitted which would render such reproduced information inaccurate or misleading. Where third
party information is reproduced in this Base Prospectus, the sources are stated.
The Management Company has not been mandated as arranger of the transaction and did not appoint the
Arranger as arranger in respect of the transaction described in this Base Prospectus.
The Seller accepts responsibility for the information under sections "DESCRIPTION OF RCI BANQUE AND
THE SELLER", "DESCRIPTION OF THE AUTO LOAN AGREEMENTS AND THE RECEIVABLES",
"DESCRIPTION OF THE MASTER RECEIVABLES TRANSFER AGREEMENT", "SERVICING OF THE
TRANSFERRED RECEIVABLES", "STATISTICAL INFORMATION RELATING TO THE PORTFOLIO",
"HISTORICAL PERFORMANCE DATA", "UNDERWRITING AND MANAGEMENT PROCEDURE" and the
information in relation to itself under section "CREDIT AND LIQUIDITY STRUCTURE" and sub-
section "Retention Statement" of section "SECURITISATION REGULATION COMPLIANCE". To the best of
the knowledge and belief of the Seller (having taken all reasonable care to ensure that such is the case), such
information is in accordance with the facts and does not omit anything likely to affect the import of such
information. The Seller accepts responsibility accordingly. The Seller accepts no responsibility for any other
information contained in this Base Prospectus and has not separately verified any such other information.
Each of the Issuer Account Bank and the Issuer Cash Manager has accepted the responsibility for the
information under section "DESCRIPTION OF THE TRANSACTION PARTIES - The Issuer Account Bank
and the Issuer Cash Manager". To the best of the knowledge and belief of the Issuer Account Bank and the
Issuer Cash Manager (having taken all reasonable care to ensure that such is the case), such information is in
accordance with the facts and does not omit anything likely to affect the import of such information. The
Issuer Account Bank and the Issuer Cash Manager accept responsibility accordingly. The Issuer Account
Bank and the Issuer Cash Manager accept no responsibility for any other information contained in this Base
Prospectus and have not separately verified any such other information.
Representations about the Class A Notes
No person is, or has been, authorised in connection with the issue and sale of the Class A Notes to give
information or to make any representation not contained in this Base Prospectus and, if given or made, such
information or representation must not be relied upon as having been authorised by, or on behalf of, the
Management Company, the Custodian, the Arranger, the Seller, the Servicer, the Issuer Account Bank, the
Issuer Cash Manager, the Paying Agents, the Servicer Collection Account Bank, the Data Trustee or any of
their respective affiliates.
Neither the delivery of this Base Prospectus nor any sale or allotment made in connection with the offering of
any of the Class A Notes shall under any circumstances constitute a representation or create any implication
that there has been no change in the affairs of the Management Company, the Custodian, the Arranger, the
Seller, the Servicer, the Issuer Account Bank, the Issuer Cash Manager, the Paying Agents, the Servicer
Collection Account Bank, the Data Trustee or any of their respective affiliates or in the information contained
herein since the date hereof, or that the information contained herein is correct as at any time subsequent to
the date hereof. The Arranger, the Paying Agents, the Luxembourg Listing Agent, the Issuer Account Bank,
the Issuer Cash Manager, the Servicer Collection Account Bank, the Data Trustee or any of their respective
affiliates do not make any representation, express or implied, or accepts any responsibility, with respect to the
accuracy or completeness of any of the information contained in this Base Prospectus. The Arranger has not
undertaken to review the financial condition or affairs of the Issuer or to advise any investor or potential
investor in the Class A Notes of any information coming to the attention of the Arranger.
(i)

In connection with the issue of the Class A Notes and offering of the Class A Notes, no person has been
authorised to give any information or to make any representations other than the ones contained in this Base
Prospectus and, if given or made, such information or representations shall not be relied upon as having been
authorised by or on behalf of HSBC Continental Europe, EuroTitrisation, RCI Banque, RCI Banque S.A.
Niederlassung Deutschland, Société Générale, Société Générale Bank & Trust, Landesbank Hessen-
Thüringen Girozentrale and Wilmington Trust SP Services (Frankfurt) GmbH or any of their respective
affiliates.
Class A Notes are Obligations of the Issuer only
THE CLASS A NOTES AND ANY OBLIGATIONS OF THE ISSUER WILL BE DIRECT AND
LIMITED RECOURSE OBLIGATIONS OF THE ISSUER PAYABLE SOLELY OUT OF THE ASSETS
OF THE ISSUER TO THE EXTENT DESCRIBED HEREIN. NEITHER THE CLASS A NOTES ANY
OBLIGATIONS OF THE ISSUER NOR THE RECEIVABLES WILL BE GUARANTEED BY THE
MANAGEMENT COMPANY, THE CUSTODIAN, THE ARRANGER, THE SELLER, THE SERVICER,
THE ISSUER ACCOUNT BANK, THE ISSUER CASH MANAGER, THE PAYING AGENTS, THE
SERVICER COLLECTION ACCOUNT BANK, THE DATA TRUSTEE OR ANY OF THEIR
RESPECTIVE AFFILIATES. SUBJECT TO THE POWERS OF THE GENERAL MEETINGS OF THE
CLASS A NOTEHOLDERS, ONLY THE MANAGEMENT COMPANY MAY ENFORCE THE RIGHTS
OF THE HOLDERS OF THE CLASS A NOTES AGAINST THIRD PARTIES. NONE OF THE
MANAGEMENT COMPANY, THE CUSTODIAN, THE ARRANGER, THE SELLER, THE SERVICER,
THE ISSUER ACCOUNT BANK, THE ISSUER CASH MANAGER, THE PAYING AGENTS, THE
SERVICER COLLECTION ACCOUNT BANK, THE DATA TRUSTEE NOR ANY OF THEIR
RESPECTIVE AFFILIATES SHALL BE LIABLE IF THE ISSUER IS UNABLE TO PAY ANY
AMOUNT DUE UNDER THE CLASS A NOTES. THE OBLIGATIONS OF THE MANAGEMENT
COMPANY, THE CUSTODIAN, THE ARRANGER, THE SELLER, THE SERVICER, THE ISSUER
ACCOUNT BANK, THE ISSUER CASH MANAGER, THE PAYING AGENTS, THE SERVICER
COLLECTION ACCOUNT BANK, THE DATA TRUSTEE OR ANY OF THEIR RESPECTIVE
AFFILIATES IN RESPECT OF THE CLASS A NOTES SHALL BE LIMITED TO COMMITMENTS
ARISING FROM THE ISSUER TRANSACTION DOCUMENTS (AS DEFINED HEREIN) RELATING
TO THE ISSUER, WITHOUT PREJUDICE TO ANY APPLICABLE LAWS AND REGULATIONS.
Selling Restrictions
This Base Prospectus does not constitute an offer or solicitation by anyone in any jurisdiction in which such
offer or solicitation is not authorised or in which the person making such offer or solicitation is not qualified
to do so or to anyone to whom it is unlawful to make an offer, invitation or solicitation in such jurisdiction.
No representation is made by the Issuer, the Management Company, the Custodian, the Arranger, the Seller,
the Servicer, the Issuer Account Bank, the Issuer Cash Manager, the Paying Agents, the Servicer Collection
Account Bank or the Data Trustee that this Base Prospectus may be lawfully distributed, or that the Class A
Notes may be lawfully offered, in compliance with any applicable registration or other requirements in any
such jurisdiction. No action has been taken under any regulatory or other requirements of any jurisdiction or
will be so taken to permit a public offering of the Class A Notes or the distribution of this document in any
jurisdiction where action for that purpose is required. Persons into whose possession this document (or any
part of it) comes are required by the Issuer to inform themselves about, and to observe, any such restrictions.
For a further description of certain restrictions on offers and sales of Class A Notes and the distribution of
this Base Prospectus (see "Selling and Transfer Restrictions").
The distribution of this Base Prospectus and the offering or sale of the Class A Notes in certain jurisdictions
may be restricted by law. Persons coming into possession of this Base Prospectus are required to enquire
regarding, and comply with, any such restrictions. In accordance with the provisions of Article L. 214-170 of
the French Monetary and Financial Code, the Class A Notes issued by the Issuer may not be sold by way of
brokerage (démarchage) save with qualified investors within the meaning of Article L. 411-2-II-2 of the
French Monetary and Financial Code.
Other than the approval of this Base Prospectus by the Commission de Surveillance du Secteur Financier in
Luxembourg (the "CSSF"), no action has been taken to permit a public offering of the Class A Notes or the
distribution of this Base Prospectus in any jurisdiction where action for that purpose is required. Except in
(ii)

the case of the private placement of the Class A Notes with (i) qualified investors as defined by the Prospectus
Regulation and (ii) investors resident outside France, and except for an application for listing of the Class A
Notes on the official list of Luxembourg Stock Exchange and admission to trading to the regulated market, or
segment thereof limited to qualified investors, of the Luxembourg Stock Exchange, no action has been or will
be taken by the Management Company that would, or would be intended to, permit a public offering of the
Class A Notes in any country or any jurisdiction where listing is subject to prior application. Accordingly, the
Class A Notes may not be offered or sold, directly or indirectly, and neither this Base Prospectus nor any
other offering material or advertisement in connection with the Class A Notes may be distributed or published
in or from any country or jurisdiction, except under circumstances that will result in compliance with any
applicable rules and regulations of any such country or jurisdiction.
The Class A Notes have not been and will not be registered under the United States Securities Act of 1933, as
amended (the "Securities Act") under applicable U.S. securities laws or under the laws of any jurisdiction.
The Class A Notes cannot be offered for subscription or sale in the United States of America or for the benefit
of nationals of the United States of America ("U.S. persons") as defined in Regulation S of the Securities Act,
save under certain circumstances where the contemplated transactions do not require any registration under
the Securities Act (see "Selling and Transfer Restrictions - United States of America").
General Disclaimer
This Base Prospectus should not be construed as a recommendation, invitation or offer by the Issuer, the
Management Company, the Custodian, the Arranger, the Seller, the Servicer, the Issuer Account Bank, the
Issuer Cash Manager, the Paying Agents, the Servicer Collection Account Bank or the Data Trustee for any
recipient of this Base Prospectus, or of any other information supplied in connection with the issue of the
Class A Notes, to purchase any such Class A Notes. In making an investment decision regarding the Class A
Notes, prospective investors must rely on their own independent investigation and appraisal of the Issuer and
the terms of the offering, including the merits and risks involved. The contents of this Base Prospectus are not
to be construed as legal, business or tax advice. Each prospective investor should consult its own advisers as
to legal, tax, financial, credit and related aspects of an investment in the Class A Notes. Accordingly, no
representation, warranty or undertaking, express or implied, is made and no responsibility or liability is
accepted by the Arranger as to the accuracy or completeness of the information contained in this Base
Prospectus or any other information provided in connection with the Class A Notes or their distribution.
Each investor contemplating the purchase of any Class A Notes should conduct an independent investigation
of the financial condition, and appraisal of the ability of the Issuer to pay its debts, the risks and rewards
associated with the Class A Notes and of the tax, accounting and legal consequences of investing in the
Class A Notes.
None of the Arranger, the Management Company, the Custodian, the Seller, the Servicer, the Issuer Account
Bank, the Issuer Cash Manager, the Paying Agents, the Servicer Collection Account Bank or the Data Trustee
has not separately verified the information contained in this Base Prospectus. Accordingly, no
representation, warranty or undertaking, express or implied, is made and no responsibility or liability is
accepted by the Arranger, the Management Company, the Custodian, the Arranger, the Seller, the Servicer,
the Issuer Account Bank, the Issuer Cash Manager, the Paying Agents, the Servicer Collection Account Bank
or the Data Trustee as to the accuracy or completeness of the information contained in this Base Prospectus
or any other information supplied by the Arranger, the Management Company, the Custodian, the Seller, the
Servicer, the Issuer Account Bank, the Issuer Cash Manager, the Paying Agents, the Servicer Collection
Account Bank or the Data Trustee in connection with the issue of the Class A Notes.
The information set forth herein, to the extent that it comprises a description of certain provisions of the
Issuer Transaction Documents, is an overview and is not intended as a full statement of the provisions of such
Issuer Transaction Documents.
Withholding Tax
In the event of any withholding tax or deduction in respect of the Class A Notes, payments of principal and
interest in respect of the Class A Notes will be made net of such withholding or deduction. Neither the
Issuer nor the Paying Agents will be liable to pay any additional amounts outstanding (see "Risk Factors 
5.1 Withholding and No Additional Payment with respect to the Class A Notes").
(iii)

The Class A Notes are intended to be held in a manner which will allow Eurosystem eligibility. This simply
means that the Class A Notes are intended upon issue to be deposited with either Euroclear or Clearstream
(each an "ICSD") as common safekeeper and does not necessarily mean that the Class A Notes will be
recognised as eligible collateral for Eurosystem monetary policy and intra-day credit operations by the
Eurosystem either upon issue or at any or all times during their life. Such recognition will depend upon
satisfaction of the Eurosystem eligibility criteria. No assurance is given that the Class A Notes satisfy such
criteria.
PROHIBITION OF SALES TO EEA RETAIL INVESTORS AND TO UK RETAIL INVESTORS
THE CLASS A NOTES ARE NOT INTENDED TO BE OFFERED, SOLD OR OTHERWISE MADE
AVAILABLE AND SHOULD NOT BE OFFERED, SOLD OR OTHERWISE MADE AVAILABLE TO
ANY RETAIL INVESTORS IN THE EUROPEAN ECONOMIC AREA ("EEA") OR IN THE UNITED
KINGDOM ("UK").
PROHIBITION OF SALES TO EEA RETAIL INVESTORS - The Class A Notes are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to
any retail investor in the European Economic Area ("EEA"). For these purposes, a retail investor means a
person who is one (or more) of: (i) a retail client as defined in point (11) of Article 4(1) of MiFID II; or (ii) a
customer within the meaning of Directive 2016/97/EU (the "Insurance Distribution Directive"), where that
customer would not qualify as a professional client as defined in point (10) of Article 4(1) of MiFID II; or (iii)
not a qualified investor as defined in Article 2(e) of the Prospectus Regulation. Consequently no key
information document required by Regulation (EU) No 1286/2014 (the "EU PRIIPs Regulation") for
offering or selling the Class A Notes or otherwise making them available to retail investors in the EEA has
been prepared and therefore offering or selling the Class A Notes or otherwise making them available to any
retail investor in the EEA may be unlawful under the EU PRIIPs Regulation.
Therefore Article 3 (Selling of securitisations to retail clients) of the Securitisation Regulation shall not apply.
PROHIBITION OF SALES TO UK RETAIL INVESTORS - The Class A Notes are not intended to be
offered, sold or otherwise made available to and should not be offered, sold or otherwise made available to
any retail investor in the United Kingdom ("UK"). For these purposes, a "retail investor" means a person
who is one (or more) of: (i) a retail client, as defined in point (8) of Article 2 of Regulation (EU) No 2017/565
as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("EUWA"); or (ii) a
customer within the meaning of the provisions of the FSMA and any rules or regulations made under the
FSMA to implement Directive (EU) 2016/97, where that customer would not qualify as a professional client,
as defined in point (8) of Article 2(1) of Regulation (EU) No 600/2014 as it forms part of domestic law by
virtue of the EUWA or (iii) not a qualified investor as defined in Article 2 of Regulation (EU) 2017/1129 as it
forms part of domestic law by virtue of the EUWA. Consequently, no key information document required by
Regulation (EU) No 1286/2014 as it forms part of domestic law by virtue of the EUWA (the "UK PRIIPs
Regulation") for offering or selling the Class A Notes or otherwise making them available to retail investors
in the UK has been or will be prepared and therefore offering or selling the Class A Notes or otherwise
making them available to any retail investor in the UK may be unlawful under the UK PRIIPs Regulation.
MIFID II PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ELIGIBLE
COUNTERPARTIES (ECPS) ONLY TARGET MARKET - Solely for the purposes of each
manufacturer's product approval process, the target market assessment in respect of the Class A Notes, taking
into account the five categories referred to in item 18 of the Guidelines published by ESMA on 5 February
2018, has led to the conclusion in relation to the type of clients criteria only that: (i) the target market for the
Class A Notes is eligible counterparties and professional clients only, each as defined in MiFID II; and (ii) all
channels for distribution of the Class A Notes to eligible counterparties and professional clients are
appropriate. Any person subsequently offering, selling or recommending the Class A Notes (a "distributor")
should take into consideration the manufacturers' target market assessment; however, a distributor subject to
MiFID II is responsible for undertaking its own target market assessment in respect of the Class A Notes (by
either adopting or refining the manufacturers' target market assessment) and determining appropriate
distribution channels.
UK MIFIR PRODUCT GOVERNANCE / PROFESSIONAL INVESTORS AND ECPS ONLY TARGET
MARKET Solely for the purposes of each manufacturer's product approval process, the target market
(iv)

assessment in respect of the Class A Notes has led to the conclusion that: (i) the target market for the Class A
Notes is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook
("COBS"), and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic
law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for
distribution of the Class A Notes to eligible counterparties and professional clients are appropriate. Any
person subsequently offering, selling or recommending the Class A Notes (a "distributor") should take into
consideration the manufacturers' target market assessment; however, a distributor subject to the FCA
Handbook Product Intervention and Product Governance Sourcebook (the "UK MiFIR Product Governance
Rules") is responsible for undertaking its own target market assessment in respect of the Class A Notes (by
either adopting or refining the manufacturers' target market assessment) and determining appropriate
distribution channels.
Currency
In this Base Prospectus, unless otherwise specified or the context otherwise requires, all references in this
document to "Euros", or "EUR" or "" are to the currency introduced at the start of the third stage of
European economic and monetary union pursuant to the Treaty establishing the European Community.
Certain figures included in this Base Prospectus have been subject to rounding adjustments. Accordingly,
figures shown for the same category in different tables may vary slightly and figures shown as totals in certain
tables may not be an arithmetic aggregation of the figures which precede them.
(v)

TABLE OF CONTENTS
GENERAL DESCRIPTION OF THE PROGRAMME .......................................................................................3
PROCEDURE FOR THE ISSUE AND THE PLACEMENTS OF THE NOTES AND PURCHASE OF
THE RECEIVABLES AND THE ANCILLARY RIGHTS ...........................................................................21
AVAILABLE INFORMATION ........................................................................................................................22
ISSUER REGULATIONS .................................................................................................................................23
ISSUER'S FINANCIAL STATEMENTS .........................................................................................................24
FORWARD-LOOKING STATEMENTS..........................................................................................................25
DEFINED TERMS.............................................................................................................................................26
SUPPLEMENT TO THIS BASE PROSPECTUS .............................................................................................27
RISK FACTORS ................................................................................................................................................28
INCORPORATION OF CERTAIN DOCUMENTS BY REFERENCE...........................................................52
DIAGRAMMATIC OVERVIEW OF THE PROGRAMME ............................................................................53
DESCRIPTION OF THE ISSUER.....................................................................................................................54
DESCRIPTION OF THE TRANSACTION PARTIES .....................................................................................60
OPERATION OF THE ISSUER ........................................................................................................................67
DESCRIPTION OF THE NOTES .....................................................................................................................78
RATINGS OF THE CLASS A NOTES.............................................................................................................79
DESCRIPTION OF THE ASSETS OF THE ISSUER ......................................................................................81
DESCRIPTION OF THE AUTO LOAN AGREEMENTS AND THE RECEIVABLES.................................82
DESCRIPTION OF THE MASTER RECEIVABLES TRANSFER AGREEMENT .......................................86
STATISTICAL INFORMATION RELATING TO THE PORTFOLIO...........................................................92
HISTORICAL PERFORMANCE DATA........................................................................................................107
SERVICING OF THE TRANSFERRED RECEIVABLES ............................................................................120
UNDERWRITING AND MANAGEMENT PROCEDURES.........................................................................125
DESCRIPTION OF RCI BANQUE AND THE SELLER...............................................................................127
TERMS AND CONDITIONS OF THE CLASS A NOTES............................................................................142
LUXEMBOURG TAXATION ........................................................................................................................156
FRENCH TAXATION.....................................................................................................................................157
GERMAN TAXATION ...................................................................................................................................159
CASH MANAGEMENT AND INVESTMENT RULES................................................................................161
DESCRIPTION OF THE ISSUER BANK ACCOUNTS................................................................................163
CREDIT AND LIQUIDITY STRUCTURE ....................................................................................................168
DISSOLUTION AND LIQUIDATION OF THE ISSUER .............................................................................171
MODIFICATION TO THE TRANSACTION.................................................................................................173
GOVERNING LAW AND SUBMISSION TO JURISDICTION ...................................................................174
GENERAL ACCOUNTING PRINCIPLES.....................................................................................................175
ISSUER FEES ..................................................................................................................................................177
INFORMATION RELATING TO THE ISSUER ...........................................................................................180
FORM OF FINAL TERMS..............................................................................................................................182
SUBSCRIPTION OF THE CLASS A NOTES................................................................................................185
SELLING AND TRANSFER RESTRICTIONS .............................................................................................186
GENERAL INFORMATION...........................................................................................................................189
SECURITISATION REGULATION COMPLIANCE....................................................................................192
OTHER REGULATORY COMPLIANCE......................................................................................................194
SELECTED ASPECTS OF APPLICABLE REGULATIONS........................................................................198
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GLOSSARY OF TERMS.................................................................................................................................205
2

GENERAL DESCRIPTION OF THE PROGRAMME
The following is a general description of the transaction and must be read as an introduction to this Base
Prospectus and any decision to invest in the Class A Notes should be based on a consideration of the Base
Prospectus as a whole. The following section highlights selected information contained in this Base
Prospectus relating to the Issuer, the issue and offering of the Class A Notes, the legal and financial terms of
the Class A Notes, the Receivables and the Issuer Transaction Documents. It should be considered by
potential investors, subscribers, Class A Noteholders by reference to the more detailed information appearing
elsewhere in this Base Prospectus.
Words or expressions beginning with capital letters shall have the meanings given in the Glossary of Terms.
Overview of the Programme
The Issuer..............................
"CARS ALLIANCE AUTO LOANS GERMANY MASTER", a French
fonds commun de titrisation (the "Issuer") governed by Articles L. 214-
167 to L. 214-175-8, Articles L. 214-180 to L. 214-186 and Articles
R. 214-217 to R. 214-235 of the French Monetary and Financial Code and
the Issuer Regulations dated 14 March 2014 between EuroTitrisation and
RCI Banque, as amended and restated on 15 March 2018 between
EuroTitrisation and HSBC Continental Europe (see "Description of the
Issuer").
In accordance with Article L. 214-180 of the French Monetary and
Financial Code, the Issuer is a joint ownership entity (co-propriété) of
assets having the form of receivables and does not have a legal personality
(personnalité morale). The Issuer is neither subject to the provisions of the
French Civil Code relating to the rules of indivision (co-ownership) nor to
the provisions of Articles 1871 to 1873 of the French Civil Code relating to
société en participation (partnerships).
The purpose of the Issuer ....
In accordance with Article L. 214-168 I and Article L. 214-175-1 I of the
French Monetary and Financial Code and pursuant to the terms of the
Issuer Regulations, the purpose of the Issuer is to:
(a)
be exposed to credit risks by acquiring Eligible Receivables and
their respective Ancillary Rights from the Seller; and
(b)
finance and hedge in full such credit risks by issuing the Notes on
each Issue Date and the Units on the Issuer Establishment Date.
The Funding Strategy of the
In accordance with Article R. 214-217 2° of the French Monetary and
Issuer ..................................
Financial Code and pursuant to the terms of the Issuer Regulations, the
funding strategy (stratégie de financement) of the Issuer is to issue the
Notes and the Units in order to purchase on each Transfer Date during the
Revolving Period from RCI Banque S.A., Niederlassung Deutschland, the
German branch of RCI Banque S.A. (the "Seller") portfolios of German
retail auto loan receivables (the "Receivables") arising from fixed rate auto
loan agreements governed by German law (the "Auto Loan Agreements")
granted by the Seller to certain Borrowers in order to finance the purchase
of either new cars produced under the brands of the Renault Group and/or
Nissan brands or used cars produced by any car manufacturers and sold by
certain cars dealers in the commercial networks of Renault Group and/or
Nissan in Germany.
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Management Company........
EuroTitrisation, a société anonyme incorporated under, and governed by,
the laws of France, licensed by, and subject to the supervision and
regulation of, the Autorité des Marchés Financiers, as a société de gestion
de portefeuille (a portfolio management company), whose registered office
is at 12 rue James Watt, 93200 Saint Denis (France) (see "Description of
the Transaction Parties The Management Company").
Custodian................................
Until (and including) the Monthly Payment Date falling in March 2018,
RCI Banque, a société anonyme incorporated under, and governed by, the
laws of France, whose registered office is at 15, rue d'Uzès, 75002 Paris,
licensed as an établissement de crédit (credit institution) by the Autorité de
Contrôle Prudentiel et de Résolution under the French Monetary and
Financial Code (see "Description of the Transaction Parties The
Custodian").
As from (and excluding) the Monthly Payment Date falling in March 2018,
HSBC Continental Europe, a société anonyme incorporated under, and
governed by, the laws of France, whose registered office is at 38 avenue
Kléber, 75016 Paris (France), licensed as an établissement de crédit (credit
institution) by the Autorité de Contrôle Prudentiel et de Résolution under
the French Monetary and Financial Code (see "Description of the
Transaction Parties The Custodian").
Seller .......................................
RCI Banque S.A., Niederlassung Deutschland, whose registered office is at
Jagenbergstr. 1, 41468 Neuss (Germany), the German branch of
RCI Banque S.A., which is licensed as an établissement de crédit (credit
institution) by the Autorité de Contrôle Prudentiel et de Résolution under
the French Monetary and Financial Code and which has been notified by
the Autorité de Contrôle Prudentiel et de Résolution to the Bundesanstalt
für Finanzdienstleistungsaufsicht (the "BAFin") under section 53b of the
German Banking Act (Kreditwesengesetz) and is admitted to conduct
banking activities under the German Banking Act.
Servicer ...................................
RCI Banque S.A., Niederlassung Deutschland, whose registered office is at
Jagenbergstr. 1, 41468 Neuss (Germany), has been appointed by the
Management Company and the Custodian as servicer of the Transferred
Receivables (the "Servicer") pursuant to Article L. 214-172 of the French
Monetary and Financial Code and the terms of the Servicing Agreement.
Issuer Account Bank .............
HSBC Continental Europe, a société anonyme incorporated under, and
governed by, the laws of France, whose registered office is at 38, avenue
Kléber, 75016 Paris (France), licensed as an établissement de crédit (a
credit institution) by the Autorité de Contrôle Prudentiel et de Résolution
under the French Monetary and Financial Code. The Issuer Account Bank
has been appointed by the Management Company and Custodian for the
opening and the operation of the Issuer Bank Accounts according to the
terms of the Account and Cash Management Agreement.
For further details, see "Description of the Issuer The Issuer Account
Bank and the Issuer Cash Manager".
4