More than $12 billion in newly created consumer-loan-backed bonds are scheduled to price ahead of a Federal Reserve program deadline on Thursday.

These securities, backed mainly by credit card and auto loans, surfaced ahead of the seventh loan application deadline for consumer-loan-backed portion of the central bank's Term Asset-Backed Securities Loan Facility, or TALF.

The program, launched in March, is credited with boosting the securitization market and helping ease the flow of credit in the economy.

Through the TALF, investors can procure cheap loans to buy new consumer-loan-backed and new and existing commercial-mortgage-backed bonds. TALF was set to expire Dec. 31, but earlier this month the central bank and the Treasury Department extended their support, citing "impaired" conditions in financial markets.

TALF loans against newly issued asset-backed securities and existing commercial-mortgage-backed securities will be extended through March 31, 2010. For newly issued CMBS, which take a significant amount of time to put together, the extension is until June 30, 2010.

The next loan application deadline for the ABS portion of the program is Thursday. For CMBS, the deadline is Sept. 17.

On Tuesday, Nissan Motor Co. Ltd. (NSANY) sold its $1.025 billion deal. Dubbed NALT 2009-B, it is backed by auto loans. Its largest triple-A rated tranche worth $423 million and with a duration of 1.74 years, sold at 95 basis points over a short-term futures benchmark.

Citigroup's (C) deal, also eligible for the Fed's TALF program, has price guidance. The credit-card loan-backed deal has two parts. The three-year portion is $750 million, while the five-year portion is $1.5 billion, according to a term sheet.

On the three-year tranche, guidance is in the area of 155 basis points over one-month London interbank offered rate for the floating-rate portion. It is in the area of 155 basis points over mid-swaps for the fixed rate portion.

On the five-year tranche, guidance is in the 275 basis points area over one-month Libor for the floating-rate portion and 275 basis points over mid-swaps for the fixed-rate portion.

The final mix of floating- and fixed-rate portions has yet to be determined.

Earlier Tuesday, price guidance was announced for a $941 million auto-loan-backed deal offered by GMAC Inc.'s Ally Bank. The bond is scheduled to price Wednesday.

Price guidance on its largest triple-A portion worth $320 million with a duration of 1.17 years is in the 75 basis points over a short-term futures benchmark area. The deal is dubbed Ally Auto Receivables Trust, or AART 2009-A. Joint leads on the deal are Citigroup, Deutsche Bank and RBS.

On Monday, Discover Financial Services' (DFS) $1.3 billion credit-card-loan-backed deal priced, according to a term sheet. The deal, dubbed DCENT 2009-A2, was increased in size from an original $1 billion. It sold at 130 basis points over one-month Libor. In July, Discover sold a $1.5 billion credit-card loan-backed deal at 130 basis points over one-month Libor.

American Express Co. (AXP) sold its $1.25 billion TALF eligible deal, according to people familiar with the matter. The credit card loan-backed deal sold at 125 basis points over one-month Libor. The deal was increased in size from an original $1 billion. Joint leads on the current deal were Barclays Capital, JPMorgan and RBS.

Amex had sold a $1 billion credit card loan-backed deal in June at 135 basis points over one-month Libor.

Other deals include a $1.995 billion auto loan-backed deal from Bank of America (BAC). Price guidance on its largest triple-A-rated tranche worth $736 million is in the area of 100 to 110 basis points over a futures benchmark.

Ford Motor Co. (F) has a $2.074 billion auto-loan-backed deal. Its largest triple-A-rated tranche is $805 million and the price guidance on it is in the area of 120 basis points to 125 basis points over a short-term futures benchmark.

-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@dowjones.com