FREE WRITING PROSPECTUS
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FILED PURSUANT TO RULE 433
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REGISTRATION FILE NO.: 333-172366-07
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WELLS FARGO SECURITIES
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RBS
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Co-Lead Manager and Co-Bookrunner
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Co-Lead Manager and Co-Bookrunner
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Class
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Expected Ratings
(Fitch/KBRA/Moody’s)(1)
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Approx. Initial
Notional
Amount(2)
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Approx. %
of
Aggregate
Cut-off
Date
Balance
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Approx.
Initial
Credit
Support
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Approx. Initial
Pass-
Through Rate
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Pass-
Through
Rate
Description
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Weighted
Average
Life
(Years)
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Expected
Principal Window
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Offered Certificates
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X-B(3)
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AA-(sf)/AAA(sf)/Aa3(sf)
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$102,868,000
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NAP
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NAP
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%
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Variable(4)
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NAP
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NAP
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Notes:
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(1)
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The expected ratings presented are those of Fitch, Inc., Kroll Bond Rating Agency, Inc. and Moody’s Investors Service, Inc., which the depositor hired to rate the rated offered certificates. One or more other nationally recognized statistical rating organizations that were not hired by the depositor may use information they receive pursuant to Rule 17g-5 under the Securities Exchange Act of 1934, as amended, or otherwise, to rate or provide market reports and/or published commentary related to the offered certificates. We cannot assure you as to what ratings a non-hired nationally recognized statistical rating organization would assign or that its reports will not express differing, possibly negative, views of the mortgage loans and/or the offered certificates. To the extent described in the Free Writing Prospectus, the ratings of the Class X-B certificates address the likelihood of the timely distribution of interest. See “Risk Factors—Risks Related to the Offered Certificates—Ratings of the Certificates Have Substantial Limitations” and “Ratings” in the Free Writing Prospectus and “Ratings” in the accompanying prospectus.
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(2)
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The notional amount set forth in the table is approximate. The actual initial notional amount may be larger or smaller depending on the aggregate cut-off date principal balance of the mortgage loans definitively included in the pool of mortgage loans, which aggregate cut-off date principal balance may be as much as 5% larger or smaller than the amount presented in the Free Writing Prospectus.
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(3)
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The Class X-B certificates are notional amount certificates. The notional amount of the Class X-B certificates will be equal to the principal balance of the Class B regular interest outstanding from time to time. The Class X-B certificates will not be entitled to distributions of principal.
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(4)
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The pass through rate for the Class X-B certificates for any distribution date will be a per annum rate equal to the excess, if any, of (a) the weighted average of the net mortgage interest rates on the mortgage loans for the related distribution date, over (b) the pass-through rate on the Class B regular interest for the related distribution date. For purposes of the calculation of the weighted average of the net mortgage interest rates on the mortgage loans for each distribution date, the mortgage interest rates will be adjusted as necessary to a 30/360 basis.
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