0001539497-23-001760.txt : 20231019 0001539497-23-001760.hdr.sgml : 20231019 20231019144300 ACCESSION NUMBER: 0001539497-23-001760 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20231019 DATE AS OF CHANGE: 20231019 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BBCMS Mortgage Trust 2023-C22 CENTRAL INDEX KEY: 0001994342 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-257737-10 FILM NUMBER: 231334505 BUSINESS ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-412-4000 MAIL ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: Barclays Commercial Mortgage Securities LLC CENTRAL INDEX KEY: 0001541480 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 270108800 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 BUSINESS PHONE: 212-412-4000 MAIL ADDRESS: STREET 1: 745 SEVENTH AVENUE CITY: NEW YORK STATE: NY ZIP: 10019 FWP 1 n3791_pgim-x11.htm FREE WRITING PROSPECTUS

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.:333-257737-10

NEW ISSUE CMBS:

BBCMS 2023-C22

$620.051MM NEW ISSUE CMBS

JOINT LEADS:	BARCLAYS; BMO CAPITAL MARKETS; BOFA SECURITIES; KEYBANC CAPITAL MARKETS; SOCIETE GENERALE

CO-MANAGERS:	ACADEMY SECURITIES; MISCHLER FINANCIAL GROUP, INC.

RATING AGENCIES:	MOODY'S; FITCH; KBRA

*PUBLIC OFFERED CERTIFICATES*

RATINGS CLASS

CLASS	(M/F/K)	SIZE($MM)	C/E	WAL	COUPON	PRICE	YIELD	SPREAD
A-1	Aaa/AAA/AAA	2.760	30.000%	3.11	6.36200	----- Auction-----
A-2	Aaa/AAA/AAA	13.200	30.000%	4.93	6.72800	99.99899	6.75921	J+180
A-4	Aaa/AAA/AAA	106.000	30.000%	9.44	6.52100	100.99874	6.42888	J+148
A-5	Aaa/AAA/AAA	356.170	30.000%	9.86	6.80400	102.99724	6.44276	J+150
A-SB	Aaa/AAA/AAA	6.826	30.000%	7.45	7.04800	102.99518	6.57830	J+160
A-S	Aa3/AAA/AAA	82.269	18.125%	9.93	7.12613*	103.14973	6.84168	J+190
B	NR/AA-/AA-	32.042	13.500%	9.93	7.12613*	100.67816	7.19168	J+225
C	NR/A-/A-	20.784	10.500%	9.93	7.12613*	90.91704	8.69168	J+375

*initial Cpn. The bond coupon will WAC or WAC - IO Strip

SETTLEMENT: ON OR ABOUT THURSDAY, NOVEMBER 9, 2023

THE SECURITIES OFFERED BY THESE MATERIALS ARE BEING OFFERED WHEN, AS AND IF ISSUED. THIS FREE WRITING PROSPECTUS IS NOT AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY STATE OR OTHER JURISDICTION WHERE SUCH OFFER, SOLICITATION OR SALE IS NOT PERMITTED. THESE SECURITIES DO NOT REPRESENT AN INTEREST IN OR OBLIGATION OF THE DEPOSITOR, THE SPONSORS, THE ORIGINATORS, THE MASTER SERVICER, THE SPECIAL SERVICER, THE TRUSTEE, THE CERTIFICATE ADMINISTRATOR, THE OPERATING ADVISOR, THE ASSET REPRESENTATIONS REVIEWER, THE CONTROLLING CLASS REPRESENTATIVE, THE COMPANION LOAN HOLDERS (OR THEIR REPRESENTATIVES), THE UNDERWRITERS OR ANY OF THEIR RESPECTIVE AFFILIATES. NEITHER THESE SECURITIES NOR THE MORTGAGE LOANS ARE INSURED OR GUARANTEED BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY OR PRIVATE INSURER.

THE ISSUER HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) FOR THIS OFFERING. BEFORE YOU INVEST, YOU SHOULD READ THE PROSPECTUS FOR THIS OFFERING IN THAT REGISTRATION STATEMENT, AND OTHER DOCUMENTS THAT 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 SEARCHING THE SEC ONLINE DATABASE (EDGAR) AT WWW.SEC.GOV. ALTERNATIVELY, YOU MAY OBTAIN A COPY OF THE PROSPECTUS FROM BARCLAYS CAPITAL INC. BY CALLING 1-888-603-5847.

ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF ANY EMAIL COMMUNICATION TO WHICH THIS DOCUMENT 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 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 SYSTEM.