FWP 1 n1034_fwp-x8.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206677-18
     

 

BANK 2017-BNK7 - PUBLIC NEW ISSUE

**ANNOUNCEMENT** $1,040.694 MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS

& JOINT BOOKRUNNERS:  WELLS FARGO SECURITIES, LLC

BOFA MERRILL LYNCH

MORGAN STANLEY & CO. LLC

 

CO-MANAGER:  ACADEMY SECURITIES, INC.

 

 

OFFERED CERTIFICATES - PUBLIC

CLASS DBRS/FITCH/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
A-1 AAA(sf)/AAAsf/Aaa(sf) 32.602 30.000% 2.64 36.4% 19.7%
A-2 AAA(sf)/AAAsf/Aaa(sf) 35.234 30.000% 4.71 36.4% 19.7%
A-3 AAA(sf)/AAAsf/Aaa(sf) 44.439 30.000% 7.13 36.4% 19.7%
A-SB AAA(sf)/AAAsf/Aaa(sf) 50.058 30.000% 7.17 36.4% 19.7%
A-4 AAA(sf)/AAAsf/Aaa(sf) 310.000 30.000% 9.76 36.4% 19.7%
A-5 AAA(sf)/AAAsf/Aaa(sf) 334.853 30.000% 9.89 36.4% 19.7%
X-A AAA(sf)/AAAsf/Aaa(sf) 807.186 N/A N/A N/A N/A
X-B A(high)(sf)/A-sf/NR 233.508 N/A N/A N/A N/A
A-S AAA(sf)/AAAsf/Aa2(sf) 144.141 17.500% 9.96 43.0% 16.7%
B AA(sf)/AA-sf/NR 50.449 13.125% 9.96 45.2% 15.8%
C A(sf)/A-sf/NR 38.918 9.750% 9.96 47.0% 15.2%
             
             
NON-OFFERED CERTIFICATES - PRIVATE (144A)
CLASS DBRS/FITCH/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
X-D BBB(sf)/BBB-sf/NR 43.242 N/A N/A N/A N/A
D BBB(low)(sf)/BBB-sf/NR 43.242 6.000% 9.96 48.9% 14.6%
             
             
NON-OFFERED ELIGIBLE VERTICAL INTEREST
CLASS DBRS/FITCH/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
RR NR/NR/NR 60.690 N/A 9.29 N/A N/A

 

  

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $1,213,814,926
NUMBER OF LOANS: 65
NUMBER OF PROPERTIES: 83
WA CUT-OFF LTV: 52.1%
WA BALLOON LTV: 47.5%
WA U/W NCF DSCR: 2.93x
WA U/W NOI DEBT YIELD: 13.8%
WA MORTGAGE RATE: 4.081%
TOP TEN LOANS %: 57.9%
WA REM TERM TO MATURITY (MOS): 116
WA REM AMORTIZATION TERM (MOS):   361
WA SEASONING (MOS): 1
   
LOAN SELLERS: WFB(34.7%), MSMCH(32.9%), BANA(26.9%), NCB(5.4%)
   
TOP 3 PROPERTY TYPES: OFFICE(22.5%), MULTIFAMILY(22.2%), RETAIL(22.0%)
   
TOP 5 STATES: CA(25.4%), NY(17.9%), IL(7.1%), KS(5.8%), WA(5.6%)
   
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.
   
DIRECTING CERTIFICATEHOLDER: RIALTO CAPITAL ADVISORS, LLC
   
DOCUMENTS & TIMING  
 TERM SHEET, ANNEX A-1: ATTACHED
 PRESALE REPORTS: TODAY & TOMORROW
 ANTICIPATED PRICING: WEEK OF SEPTEMBER 18, 2017
 ANTICIPATED SETTLEMENT: SEPTEMBER 28, 2017
   
ROADSHOW  
 HARTFORD, BREAKFAST: WED, 9/13 @ 8:30AM ET, GOODWIN HOTEL
 BOSTON, LUNCH: WED, 9/13 @ 12:00PM ET, THE LANGHAM
 DES MOINES,BREAKFAST: THURS, 9/14 @ 7:30AM CT, MARRIOTT DOWNTOWN
 MINNEAPOLIS, LUNCH: THURS, 9/14 @ 1:00PM CT, THE GRAND HOTEL
   
CONFERENCE CALLS: UPON DEMAND

 

PRE-RECORDED GLOBAL INVESTOR CALL: WWW.NETROADSHOW.COM

REVIEW CODE: WFCM-BNK7

FINAL LINK: www.netroadshow.com/nrs/wp/default.html?show=5fCE8E

 

 

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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