| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-226123-07 | ||
| From: | Spg Syndicate Jpm (JP MORGAN SECURITIES) <sjpm2@bloomberg.net> |
| Sent: | Wednesday, February 5, 2020 1:39 PM |
| Subject: | ★GUIDANCE★ $627.0M BMARK 2020-IG1 **PUBLIC CMBS** |
BENCHMARK COMMERCIAL MORTGAGE SECURITIES TRUST 2020-IG1 COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2020-IG1
| JOINT BOOKRUNNERS: | J.P. MORGAN SECURITIES LLC, CITIGROUP GLOBAL MARKETS INC., DEUTSCHE BANK SECURITIES INC. |
| CO-LEAD MANAGERS: | J.P. MORGAN SECURITIES LLC, CITIGROUP GLOBAL MARKETS INC., DEUTSCHE BANK SECURITIES INC. |
| CO-MANAGERS: | DREXEL HAMILTON, LLC, ACADEMY SECURITIES, INC. |
| RATING AGENCIES: | FITCH/KBRA |
| OFFERING TYPE: | SEC-REGISTERED |
***OFFERED CERTIFICATES - PUBLIC***
| CLS | RATINGS (F/K) |
SIZE ($MM) |
WAL (YR) |
CERT C/E |
CERT LTV |
CERT NOI DEBT YLD |
GUIDANCE |
| A-1 | AAA/AAA | 42.750 | 4.80 | 30.000% | 25.5% | 21.0% | +55A |
| A-2 | AAA/AAA | 47.500 | 6.80 | 30.000% | 25.5% | 21.0% | +67A |
| A-3 | AAA/AAA | 348.650 | 9.80 | 30.000% | 25.5% | 21.0% | +72-73 |
| A-S | AAA/AAA | 122.550 | 9.88 | 10.455% | 32.6% | 16.4% | +95A |
| B | AA-/AA- | 35.720 | 9.88 | 4.758% | 34.7% | 15.4% | +115A |
| C | A-/A- | 14.630 | 9.88 | 2.424% | 35.5% | 15.1% | +150A |
| D | NR/BBB- | 15.200 | 9.88 | 0.000% | 36.4% | 14.7% | +195A |
| TIMING | |
| ANTICIPATED PRICING: | FEBRUARY 6, 2020 |
| ANTICIPATED SETTLEMENT: | ON OR ABOUT FEBRUARY 28, 2020 |
| JPM SPG SYNDICATE CONTACTS | |
| ANDY CHERNA | 212-834-4154 |
| KAILIN TWOMEY | 212-834-4154 |
| JPM CMBS BANKING CONTACTS | |
| KUNAL SINGH | 212-834-5467 |
| DWAYNE MCNICHOLAS | 212-834-9328 |
| JOHN MILLER | 212-272-8363 |
| JPM CMBS TRADING DESK CONTACTS | |
| AVINASH SHARMA | 212-834-3111 |
| BRIAN CAREY | 212-834-3111 |
| DEUTSCHE BANK TRADING DESK CONTACT | |
| RYAN HORVATH | 212-250-5149 |
| DAN PENN | 212-250-5149 |
| JIM MURPHY | 212-250-5149 |
| CITIGROUP SYNDICATE DESK CONTACTS | |
| RAUL OROZCO | 212-723-1295 |
| MATT PERRY | 212-723-1295 |
*******************************************************************************
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