FWP 1 n306_fwpx10.htm FREE WRITING PROSPECTUS Unassociated Document
 
   
FREE WRITING PROSPECTUS
   
FILED PURSUANT TO RULE 433
   
REGISTRATION FILE NO.: 333-172366-13
     
 
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI)
Subject: Fwd:NEW ISSUE CMBS: WFRBS 2014-C20 PUBLIC *LAUNCH*
 
WFRBS COMMERCIAL MORTGAGE TRUST 2014-C20 - PUBLIC NEW ISSUE
**LAUNCH** $1,069.567 MM FIXED-RATE CMBS OFFERING

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

OFFERED CERTIFICATES - PUBLIC
CLASS
DBRS/KBRA/MDY
$SIZE(MM)
WAL
C/E
CUM LTV
NOI DY
LAUNCH
A-1
AAA(sf)/AAA(sf)/Aaa(sf)
70.328
2.63
30.000%
34.7%
17.5%
+43
A-2
AAA(sf)/AAA(sf)/Aaa(sf)
95.556
4.92
30.000%
34.7%
17.5%
+60
A-3
AAA(sf)/AAA(sf)/Aaa(sf)
45.543
6.92
30.000%
34.7%
17.5%
+84
A-4
AAA(sf)/AAA(sf)/Aaa(sf)
250.000
9.82
30.000%
NOT AVAILABLE
A-5
AAA(sf)/AAA(sf)/Aaa(sf)
312.986
9.92
30.000%
34.7%
17.5%
+87
A-SB
AAA(sf)/AAA(sf)/Aaa(sf)
101.757
7.40
30.000%
34.7%
17.5%
+78
A-S
AAA(sf)/AAA(sf)/Aaa(sf)
52.584
9.92
25.000%
37.2%
16.3%
+105
B
AA(low)(sf)/AA-(sf)/Aa3(sf)
95.440
9.92
17.375%
41.0%
14.8%
+125
C
A(low)(sf)/A-(sf)/A3(sf)
45.373
10.01
13.750%
42.8%
14.2%
+175
X-A
AAA(sf)/AAA(sf)/Aaa(sf)
938.754
N/A
N/A
N/A
N/A
  
X-B
AAA(sf)/AAA(sf)/NR
223.736
N/A
N/A
N/A
N/A
  

NON-OFFERED CERTIFICATES - PRIVATE (144A)
CLASS
DBRS/KBRA/MDY
$SIZE(MM)
WAL
C/E
CUM LTV
NOI DY
A-SFL
AAA(sf)/AAA(sf)/Aaa(sf)
10.000
9.92
25.000%
37.2%
16.3%
D
BBB(low)(sf)/BBB-(sf)/NR
82.923
10.01
7.125%
46.0%
13.2%

COLLATERAL SUMMARY
 
CUT-OFF DATE BALANCE:
$1,251,672,501
NUMBER OF LOANS:
98
NUMBER OF PROPERTIES:
142
WA CUT-OFF LTV:
64.7%
WA BALLOON LTV:
55.1%
WA U/W DSCR:
1.83x
WA U/W NOI DEBT YIELD:
12.2%
WA MORTGAGE RATE:
4.871%
TOP TEN LOANS %:
46.9%
WA TERM TO MATURITY (MOS):
114
WA AMORTIZATION TERM (MOS):    
351
WA SEASONING (MOS):
1
   
LOAN SELLERS:
WFB (30.5%), RBS (26.3%), RMF (25.5%),
 
C-III (6.4%), LIG I (5.0%), NCB (3.6%),
 
BASIS (2.8%)
TOP 5 PROPERTY TYPES:
RETAIL (33.2%), HOSPITALITY (18.7%),
 
MULTIFAMILY (15.3%), OFFICE (15.0%),
 
OTHER (7.0%)
   
TOP 5 STATES:
NJ(14.9%), TX(14.4%), NY(14.1%), CA(9.9%), MD(5.5%)
   
MASTER SERVICERS:
WELLS FARGO BANK, NATIONAL ASSOCIATION AND NCB, FSB
SPECIAL SERVICERS:
RIALTO CAPITAL ADVISORS, LLC AND NCB, FSB
SUBORDINATE CLASS REP:
RIALTO CMBS II, LLC OR AN AFFILIATE OF RIALTO CAPITAL ADVISORS, LLC
   
   
DOCUMENTS & TIMING
  
TERM SHEET, ANNEX A:
ATTACHED
PRELIMINARY FWP:
APRIL 23, 2014
PRESALE REPORTS:
MID-WEEK OF 4/21
ANTICIPATED PRICING:
WEEK OF 4/28
ANTICIPATED SETTLEMENT:
MAY 13, 2014
   
ROADSHOW
  
NEW YORK 1x1's:
WED, 4/23
CONFERENCE CALLS:
UPON DEMAND
   
BOSTON, BREAKFAST:
THURS, 4/24 @ 9:45AM EDT, THE RITZ CARLTON
HARTFORD, LUNCH:
THURS, 4/24 @ 1:30PM EDT, MAX'S DOWNTOWN
MINNEAPOLIS, BREAKFAST:
FRI, 4/25 @ 7:30AM CDT, GRAND HOTEL MINNEAPOLIS
   
   
GLOBAL INVESTOR CALL:
PRE-RECORDED, AVAILABLE THURS, 4/24
 
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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