FWP 1 n620_x11.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206677-02
     

 

----- Original Message -----

From:   WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITI)

At:   Jan 29 2016 12:50:37

 

WELLS FARGO COMMERCIAL MORTGAGE TRUST 2016-C32 - PUBLIC NEW ISSUE **PRICE GUIDANCE** $774.582 MM FIXED-RATE CMBS OFFERING

 

LEAD MANAGER AND SOLE BOOKRUNNER:   WELLS FARGO SECURITIES, LLC

CO-MANAGERS:   BARCLAYS CAPITAL INC. AND DEUTSCHE BANK SECURITIES INC.

 

OFFERED CERTIFICATES - PUBLIC

CLASS DBRS/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY GUIDANCE
A-1 AAA(sf)/AAA(sf)/Aaa(sf) 40.045 30.000% 2.68 41.1% 21.9% +68-70
A-2 AAA(sf)/AAA(sf)/Aaa(sf) 45.913 30.000% 4.80 41.1% 21.9% +85A
A-3 AAA(sf)/AAA(sf)/Aaa(sf) 160.000 30.000% 9.70 41.1% 21.9% 2 thru A4
A-4 AAA(sf)/AAA(sf)/Aaa(sf) 284.738 30.000% 9.82 41.1% 21.9% +150-153
A-SB AAA(sf)/AAA(sf)/Aaa(sf) 66.289 30.000% 7.27 41.1% 21.9% +138-141
A-S AAA(sf)/AAA(sf)/Aa2(sf) 77.999 21.875% 9.88 45.8% 19.6% +180-185
B AA(low)(sf)/AA-(sf)/NR 64.798 15.125% 9.91 49.8% 18.1% +250-260
C A(low)(sf)/A-(sf)/NR 34.800 11.500% 9.91 51.9% 17.3% +400-410

 

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS DBRS/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
A-3FL AAA(sf)/AAA(sf)/Aaa(sf) 75.000 30.000% 9.70 41.1% 21.9%
D BBB(low)(sf)/BBB-(sf)/NR 38.399 7.500% 9.91 54.3% 16.6%

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $959,979,761
NUMBER OF LOANS: 112
NUMBER OF PROPERTIES: 152
WA CUT-OFF LTV: 58.7%
WA BALLOON LTV: 51.8%
WA U/W NCF DSCR: 2.46x
WA U/W NOI DEBT YIELD: 15.3%
WA MORTGAGE RATE: 4.750%
TOP TEN LOANS %: 41.3%
WA REM TERM TO MATURITY (MOS): 115
WA REM AMORTIZATION TERM (MOS): 349
WA SEASONING (MOS): 2
   
LOAN SELLERS: WFB(43.9%), RMF(23.7%), NCB(14.9%), C-III(10.0%), BASIS(7.4%)
   
TOP 3 PROPERTY TYPES: RETAIL (26.5%), MULTIFAMILY (19.1%), HOSPITALITY (16.2%)
   
TOP 5 STATES: NY(17.6%), CA(11.9%), TX(11.6%), IL(9.8%), FL(6.3%)
   
MASTER SERVICERS: WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
   
SPECIAL SERVICERS: RIALTO CAPITAL ADVISORS, LLC AND NATIONAL COOPERATIVE BANK, N.A.
   
SUBORDINATE CLASS REP: RIALTO CMBS VIII, LLC OR ANOTHER AFFILIATE OF RIALTO CAPITAL ADVISORS, LLC
   
DOCUMENTS & TIMING  
 TERM SHEET, ANNEX A-1: ATTACHED
 PRELIMINARY PROSPECTUS: ATTACHED
 PRESALE REPORTS: TUES 1/26 AND WED 1/27
 ANTICIPATED PRICING: WEEK OF 2/1
 ANTICIPATED SETTLEMENT: FEBRUARY 18, 2016
   
ROADSHOW  
 MINNEAPOLIS, BREAKFAST: TUES, 1/26 @ 7:30AM CT, THE GRAND HOTEL
 HARTFORD, BREAKFAST: TUES, 1/26 @ 8:30AM ET, MAX'S DOWNTOWN
 BOSTON: TUES, 1/26 @ 12:00PM ET, THE LANGHAM
 NEW YORK 1x1's: WED, 1/27
 CONFERENCE CALLS: UPON DEMAND

 

PRE-RECORDED GLOBAL INVESTOR CALL: WWW.NETROADSHOW.COM REVIEW CODE: www.netroadshow.com/nrs/wp/default.html?show=4cDd4e

FINAL LINK: WFCM2016

 

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. 333-206677) 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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