FWP 1 n3430_x7-pricing.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-261279-03
     

BANK 2023-BNK45 **PUBLIC PRICING DETAILS**

 

NEW ISSUE CMBS: approx. $599.606mn BANK 2023-BNK45


CO-LEAD MANAGERS & BOOKRUNNERS: BofA Securities, Wells Fargo Securities and Morgan Stanley
CO-MANAGERS: Academy Securities, Inc. and Drexel Hamilton

 

PUBLICLY OFFERED CERTIFICATES

CLASS Fitch/Moody’s/KBRA SIZE($MM) WAL(YRS) CE% WINDOW DY% LTV% Spread Yield Price
A-1 AAAsf/Aaa(sf)/AAA(sf) $12.454 2.72 30.000% 1-59 19.4% 35.7% P+120 5.4310 5.4060 99.9993
A-2 AAAsf/Aaa(sf)/AAA(sf) $128.509 4.93 30.000% 59-60 19.4% 35.7% P+130 5.6580 4.9715 102.9983
A-SB AAAsf/Aaa(sf)/AAA(sf) $15.769 7.14 30.000% 60-110 19.4% 35.7% P+150 5.4670 4.9814 102.9980
A-3 AAAsf/Aaa(sf)/AAA(sf) $3.008 6.89 30.000% 83-83 19.4% 35.7% P+160 5.0750 5.0952 99.9945
A-4 AAAsf/Aaa(sf)/AAA(sf) $100.000 9.52 30.000% 110-117 19.4% 35.7% P+143 4.9370 4.8292 100.9961
A-5 AAAsf/Aaa(sf)/AAA(sf) 209.226 9.84 30.000% 117-119 19.4% 35.7% P+145 5.2030 4.8423 102.9990
A-S AAAsf/Aa2(sf)/AAA(sf) $71.182 9.89 19.375% 119-119 16.9% 41.2% P+190 5.6510 5.2911 102.9978
B AA-sf/NR/AA-(sf) $34.335 9.95 14.250% 119-120 15.9% 43.8% P+240 6.1480 5.7898 102.9935
C A-sf/NR/A-(sf) $25.123 9.98 10.500% 120-120 15.2% 45.7% P+365 6.2795 7.0393 95.7148

 

 

POOL BALANCE: $705,212,280
NUMBER OF LOANS/PROPERTIES: 24/35
WA MORTGAGE INT. RATE: 6.3008%
WA CUT-OFF LTV: 51.1%
WA UW NCF DSCR: 1.88x
WA UW NOI DEBT YLD: 13.6%
WA ORIG TERM TO MATURITY: 108
TEN LARGEST LOANS: 75.2%
LOAN SELLERS: MSMCH(37.4%), WFB(37.0%),BANA/WFB(14.9%),BANA(10.6%)
TOP 5 STATES: AZ(13.4%),MA(12.0%),FL(11.8%),IL(10.7%),NC(9.9%)
TOP 5 PROPERTY TYPES: RT(36.1%),OF(28.1%),HT(13.9%),IND(11.2%),MU(9.9%)
   
RISK RETENTION Eligible vertical interest ("V")
   
MASTER SERVICER: Wells Fargo Bank
SPECIAL SERVICER: LNR Partners, LLC
TRUSTEE: ComputerShare
CERT ADMIN: ComputerShare
TRUST ADVISOR: Park Bridge
INITIAL CONTROLLING CLASS REP: LD III Sub XI, LLC
   
Expected Pricing: PRICED
Expected Settlement: February 23, 2022
   
   
Attached: TERM SHEET, ANNEX A-1, PRELIM PROSPECTUS

 

-----------------------------------------------------

The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus 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 get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you may e-mail a request to prospectus_request@bofa.com. The securities may not be suitable for all investors. BofA Securities, Inc. and its affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer.

 

IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF ANY EMAIL COMMUNICATION TO WHICH THIS COMMUNICATION IS ATTACHED RELATING TO (1) THESE MATERIALS NOT CONSTITUTING AN OFFER (OR A SOLICITATION OF AN OFFER), (2) NO REPRESENTATION THAT THESE MATERIALS ARE ACCURATE OR COMPLETE AND MAY NOT BE UPDATED OR (3) THESE MATERIALS POSSIBLY BEING CONFIDENTIAL, ARE NOT APPLICABLE TO THIS OFFERING AND SHOULD BE DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR ANOTHER SYSTEM.