0001539497-13-000938.txt : 20131002 0001539497-13-000938.hdr.sgml : 20131002 20131002145406 ACCESSION NUMBER: 0001539497-13-000938 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20131002 DATE AS OF CHANGE: 20131002 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: COMM 2013-CCRE11 Mortgage Trust CENTRAL INDEX KEY: 0001586883 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-184376-08 FILM NUMBER: 131129851 BUSINESS ADDRESS: STREET 1: ONE INTERNATIONAL PLACE STREET 2: ROOM 520 CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6179517690 MAIL ADDRESS: STREET 1: ONE INTERNATIONAL PLACE STREET 2: ROOM 608 CITY: BOSTON STATE: MA ZIP: 02110 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: DEUTSCHE MORTGAGE & ASSET RECEIVING CORP CENTRAL INDEX KEY: 0001013454 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 043310019 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: ONE INTERNATIONAL PLACE STREET 2: ROOM 520 CITY: BOSTON STATE: MA ZIP: 02110 BUSINESS PHONE: 6179517690 MAIL ADDRESS: STREET 1: ONE INTERNATIONAL PLACE STREET 2: ROOM 608 CITY: BOSTON STATE: MA ZIP: 02110 FWP 1 n242_fwpx9.htm FREE WRITING PROSPECTUS Unassociated Document
FREE WRITING PROSPECTUS
Filed Pursuant to Rule 433
Registration Statement No. 333-184376-08
October 2, 2013

STATEMENT REGARDING THIS FREE WRITING PROSPECTUS
 
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (File No. 333-184376) for the offering to which this communication relates.  Before you invest, you should read the prospectus in the registration statement and other documents the depositor has filed with the Securities and Exchange Commission for more complete information about the depositor, the issuing entity and this offering.  You may get these documents for free by visiting EDGAR on the Securities and Exchange Commission website at www.sec.gov.  Alternatively, the depositor, Deutsche Bank Securities Inc., any other underwriter, or any dealer participating in this offering will arrange to send to you the prospectus if you request it by calling toll-free 1-800-503-4611 or by emailing prospectus.cpdg@db.com.

This free writing prospectus does not contain all information that is required to be included in the  prospectus and the prospectus supplement.
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IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
 
Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, the email communication to which these materials are attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation being made that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials 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 email system.
 

$1,079,345,000 (Approximate)
COMM 2013-CCRE11 Mortgage Trust
as Issuing Entity
Deutsche Mortgage & Asset Receiving Corporation
as Depositor
Cantor Commercial Real Estate Lending, L.P.
German American Capital Corporation
as Sponsors and Mortgage Loan Sellers
 
COMM 2013-CCRE11 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
 
This free writing prospectus relates to Deutsche Mortgage & Asset Receiving Corporation’s offering of Class A-1, Class A-2, Class A-SB, Class A-3, Class A-4, Class A-M, Class B and Class X-A of its COMM 2013-CCRE11 Mortgage Trust Commercial Mortgage Pass-Through Certificates and clarifies, updates or adds the following information as it relates to (i) the free writing prospectus, dated September 25, 2013 and filed with the Securities and Exchange Commission under accession number 0001539497-13-000906 (the “Free Writing Prospectus”; capitalized terms not defined herein are used as defined in the Free Writing Prospectus), (ii) the free writing prospectus also designated as the “Structural and Collateral Term Sheet”, dated September 24, 2013 and filed with the Securities and Exchange Commission under accession number 0001539497-13-000899, and (iii) the free writing prospectus, dated October 2, 2013:
 
Structural Update
 
1.            Class B Certificates.
 
The Class B certificates, which were originally offered pursuant to the preliminary private placement memorandum, dated September 25, 2013, are no longer issued privately, and will be publicly offered certificates offered pursuant to this free writing prospectus and the final prospectus supplement.
 
 
 
 
 
2.            Revised Issue Characteristics.
 
Class
Initial Certificate
Balance or Notional
Balance(1)
Approximate
Initial Credit
Support
Description
of
Pass-
Through
Rate
Assumed
Final
Distribution
   Date(2)
Approximate
Initial
Pass-Through
Rate
Weighted
Average
Life
(Yrs.)(3)
Principal
Window
  (Mos.)(3)
Anticipated Ratings
(Moody’s/Fitch/DBRS)(4)
  Offered Certificates 
                
Class B
$76,189,000
15.000%
(5)
September 2023
%
9.92
119 – 119
Aa3(sf)/AA-(sf)/AA(sf)
 
 
(1)
Approximate; subject to a variance of plus or minus 5.0%.
 
 
(2)
The assumed final distribution date with respect to the Class B certificates is the distribution date on which the final distribution would occur for the Class B certificates based upon the assumption that no mortgage loan is prepaid prior to its stated maturity date or anticipated repayment date, as applicable, and otherwise based on modeling assumptions described in the Free Writing Prospectus.  The rated final distribution date for the Class B certificates is the distribution date in August 2050.  The actual performance and experience of the mortgage loans will likely differ from such assumptions.  See “Yield and Maturity Considerations” and “Ratings” in the Free Writing Prospectus.
 
 
(3)
The weighted average life and principal window during which distributions of principal would be received as set forth in the table with respect to the Class B certificates is based on (i) modeling assumptions and prepayment assumptions described in the Free Writing Prospectus, (ii) assumptions that there are no prepayments, delinquencies or losses on the mortgage loans and (iii) assumptions that there are no extensions of maturity dates and that mortgage loans with anticipated repayment dates are repaid on their respective anticipated repayment dates.
 
 
(4)
It is a condition to issuance of the Class B certificates that the Class B certificates receive the ratings set forth above.  See “Risk Factors—Risks Related to the Offered Certificates—Ratings of the Offered Certificates” and “Ratings” in the Free Writing Prospectus.
 
 
(5)
For any distribution date, the pass-through rate on the Class B certificates will equal one of (i) a fixed per annum rate, (ii) the weighted average of the net mortgage rates on the mortgage loans (in each case, adjusted, if necessary, to accrue on the basis of a 360 day year consisting of twelve 30 day months) as of their respective due dates in the month preceding the month in which such distribution date occurs, (iii) a rate equal to the lesser of a specified pass through rate and the rate specified in clause (ii), or (iv) the rate specified in clause (ii), less a specified rate.
 
3.            Class B Certificates Decrement Table.
 
Percentages of the Initial Certificate Balance
of the Class B Certificates at the Specified CPRs
0% CPR During Lock-Out, Defeasance, Yield Maintenance
and Prepayment Premium—Otherwise at Indicated CPR
 
Date
0% CPR
25% CPR
50% CPR
75% CPR
100% CPR
Initial Percentage
100%
100%
100%
100%
100%
October 2014
100%
100%
100%
100%
100%
October 2015
100%
100%
100%
100%
100%
October 2016
100%
100%
100%
100%
100%
October 2017
100%
100%
100%
100%
100%
October 2018
100%
100%
100%
100%
100%
October 2019
100%
100%
100%
100%
100%
October 2020
100%
100%
100%
100%
100%
October 2021
100%
100%
100%
100%
100%
October 2022
100%
100%
100%
100%
100%
October 2023 and thereafter
    0%
    0%
    0%
    0%
    0%
Weighted Average Life (years)
9.92
9.92
9.92
9.92
9.67

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2
 
 
This free writing prospectus is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.
 
The information in this free writing prospectus, if conveyed prior to the time of your contractual commitment to purchase any of the Offered Certificates, supersedes any conflicting information contained in the Free Writing Prospectus, the Term Sheet and any other prior similar materials relating to the Offered Certificates.  The information in this free writing prospectus may be amended or supplemented.  This free writing prospectus is being delivered to you solely to provide you with information about the offering of the Offered Certificates referred to in this free writing prospectus and to solicit an offer to purchase the Offered Certificates, when, as and if issued.  Any such offer to purchase made by you will not constitute a contractual commitment by you to purchase or give rise to an obligation by the underwriters to sell any of the Offered Certificates until the underwriters have accepted your offer to purchase Offered Certificates; any “indications of interest” expressed by you, and any “soft circles” generated by us, will not create binding contractual obligations for you or us.
 
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IRS CIRCULAR 230 NOTICE
 
THIS FREE WRITING PROSPECTUS IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE OR LOCAL TAX PENALTIES.  THIS FREE WRITING PROSPECTUS IS WRITTEN AND PROVIDED BY THE UNDERWRITERS IN CONNECTION WITH THE PROMOTION OR MARKETING OF THE TRANSACTIONS OR MATTERS ADDRESSED HEREIN.  INVESTORS SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.
 
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Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this free writing prospectus is truthful or complete. Any representation to the contrary is a criminal offense.