0001539497-14-000115.txt : 20140131 0001539497-14-000115.hdr.sgml : 20140131 20140131155514 ACCESSION NUMBER: 0001539497-14-000115 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20140131 DATE AS OF CHANGE: 20140131 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: WFRBS Commercial Mortgage Trust 2014-LC14 CENTRAL INDEX KEY: 0001596958 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-172366-12 FILM NUMBER: 14564738 BUSINESS ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 BUSINESS PHONE: 7043832556 MAIL ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC CENTRAL INDEX KEY: 0000850779 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 561643598 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 BUSINESS PHONE: 7043832556 MAIL ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 FORMER COMPANY: FORMER CONFORMED NAME: WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 20020304 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 19960520 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 19951013 FWP 1 n285_fwpx9.htm FREE WRITING PROSPECTUS Unassociated Document
 
   
FREE WRITING PROSPECTUS
   
FILED PURSUANT TO RULE 433
   
REGISTRATION FILE NO.: 333-172366-12    
     
 
----- Original Message -----
From: WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITI)
At: Jan 31 2014 13:15:18

The purposes of this free writing prospectus is to correct the text of the previously delivered price guidance announcement that incorrectly identified the Class A-3FL certificates as publicly offered.  Please see below for the correct list of offered certificates.

WFRBS COMMERCIAL MORTGAGE TRUST 2014-LC14 - PUBLIC NEW ISSUE **PRICE GUIDANCE** $1,103.355MM FIXED-RATE CMBS OFFERING

CO-LEAD MANAGERS & JT BOOKRUNNERS: WELLS FARGO SECURITIES AND RBS
CO-MANAGER: DEUTSCHE BANK SECURITIES

OFFERED CERTIFICATES - PUBLIC
      
CLASS
DBRS/F/MDY
$SIZE(MM)
WAL
C/E
GUIDANCE
A-1
AAA(sf)/AAAsf/Aaa(sf)
66.263
2.70
30.000%
50-55
A-2
AAA(sf)/AAAsf/Aaa(sf)
189.675
4.95
30.000%
65A
A-4
AAA(sf)/AAAsf/Aaa(sf)
175.000
9.76
30.000%
PREPLACED
A-5
AAA(sf)/AAAsf/Aaa(sf)
278.492
9.87
30.000%
90A
A-SB
AAA(sf)/AAAsf/Aaa(sf)
89.487
7.41
30.000%
78A
A-S
AAA(sf)/AAAsf/Aaa(sf)
95.739
9.90
22.375%
115-120
B
AA(low)(sf)/AA-sf/Aa3(sf)
81.614
9.92
15.875%
165-170
C
A(low)(sf)/A-sf/A3(sf)
47.085
9.99
12.125%
210-215
PEX
A(low)(sf)/A-sf/A1(sf)
224.438
9.93
12.125%
  
X-A
AAA(sf)/AAAsf/Aaa(sf)
974.656
N/A
N/A
  
X-B
AAA(sf)/BBB-sf/NR
193.048
N/A
N/A
  
 
NON-OFFERED CERTIFICATES - PRIVATE (144A)
      
CLASS
DBRS/F/MDY
$SIZE(MM)
WAL
C/E
CUM LTV
NOI DY
D
BBB(low)(sf)/BBB-sf/NR
64.349
9.99
7.000%
60.8%
11.9%
A-3FL
AAA(sf)/AAAsf/Aaa(sf)
80.000
***** NOT AVAILABLE *****
  


COLLATERAL SUMMARY
  
   
CUT-OFF DATE BALANCE:
$1,255,596,034
NUMBER OF LOANS:
71
NUMBER OF PROPERTIES:
144
WA CUT-OFF LTV:
66.4%
WA BALLOON LTV:
57.4%
WA U/W DSCR:
1.65x
WA U/W NOI DEBT YIELD:
11.0%
WA MORTGAGE RATE:
5.021%
TOP TEN LOANS %:
48.6%
WA TERM TO MATURITY (MOS):
108
WA AMORTIZATION TERM (MOS):    
346
WA SEASONING (MOS):
1
   
LOAN SELLERS:
WFB (42.9%), LCF (29.2%), RMF (16.2%),
 
RBS (11.6%)
   
TOP 5 PROPERTY TYPES:
RETAIL (23.1%), OTHER (15.7%), OFFICE (15.4%)
 
HOSPITALITY (13.7%), MULTIFAMILY (13.3%)
   
TOP 5 STATES:
GA(15.0%), FL(12.2%), PA(10.4%), TX(8.1%), NJ(6.5%)
   
MASTER SERVICER:
WELLS FARGO BANK, NATIONAL ASSOCIATION
SPECIAL SERVICER:
RIALTO CAPITAL ADVISORS, LLC
SUBORDINATE CLASS REP:
RIALTO CMBS, LLC OR ANOTHER AFFILIATE OF RIALTO
 
CAPITAL ADVISORS, LLC
   
DOCUMENTS & TIMING
  
TERM SHEET, ANNEX A:
ATTACHED
PRELIMINARY FWP:
JANUARY 28
PRESALE REPORTS:
MID-WEEK OF 1/27
ANTICIPATED PRICING:
EARLY WEEK OF 2/3
ANTICIPATED SETTLEMENT:
FEBRUARY 20, 2014
   
ROADSHOW
  
NEW YORK 1x1's:
TUES, 1/28
CONFERENCE CALLS:
UPON DEMAND
   
HARTFORD, BREAKFAST:
MON, 1/27 @ 8:30AM EST, MAX'S DOWNTOWN
BOSTON, LUNCH:
MON, 1/27 @ 12:30PM EST, THE LANGHAM
MINNEAPOLIS, BREAKFAST:
TUES, 1/28 @ 7:30AM CST, GRAND HOTEL MINNEAPOLIS    
   
GLOBAL INVESTOR CALL REPLAY INFORMATION:
DIAL IN:
(855) 859-2056 or (404) 537-3406
CONFERENCE ID:
46563713


Wells Fargo Commercial Mortgage Securities, Inc., as depositor, has filed a registration statement (including a prospectus) with the Securities and Exchange Commission ("SEC") (SEC File No. 333-172366) 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 SEC 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 SEC Web site at www.sec.gov. Alternatively, the depositor, any underwriter, or any dealer participating in the offering will arrange to send you the prospectus after filing if you request it by calling toll free 1-800-745-2063 (8 a.m. – 5 p.m. EST) or by emailing wfs.cmbs@wellsfargo.com.





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