FWP 1 n1481_publicpricing-x11.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-03
     

--- Original Sender:  WELLS ABF SYNDICATE WELLS FARGO, WELLS FARGO SECURITIES LLC ---

 

BANK 2019-BNK16 - PUBLIC NEW ISSUE

**PRICING DETAILS** $828.859MM 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.
  DREXEL HAMILTON

 

OFFERED CERTIFICATES - PUBLIC

CLASS DBRS/FITCH/MOODY'S SIZE($MM) WAL SPD YLD% CPN% $PRICE
A-1 AAA(sf)/AAAsf/Aaa(sf) 22.471 2.68 +38 3.00090 3.0280 99.99860
A-2 AAA(sf)/AAAsf/Aaa(sf) 50.985 4.65 +63 3.22380 3.9330 102.99970
A-SB AAA(sf)/AAAsf/Aaa(sf) 42.321 7.13 +78 3.42180 3.8980 102.99970
A-3 AAA(sf)/AAAsf/Aaa(sf) 250.000 9.70 +92 3.62820 3.7410 100.99830
A-4 AAA(sf)/AAAsf/Aaa(sf) 282.492 9.90 +94 3.65340 4.0050 102.99340
A-S AAA(sf)/AAAsf/Aa3(sf) 103.029 9.90 +120 3.91340 4.2670 102.99530
B AA(high)(sf)/AA-sf/NR 41.674 9.90 +137 4.08340 4.4380 102.99490
C A(sf)/A-sf/NR 35.887 9.92 +200 4.71390 4.7860 100.74710

 

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS DBRS/FITCH/MOODY'S SIZE($MM) C/E WAL CUM LTV NOI DY
X-D BBB(sf)/BBB-sf/NR 39.359 N/A N/A N/A N/A
D BBB(high)(sf)/BBBsf/NR 21.995 8.125% 9.98 52.7% 14.3%
E BBB(low)(sf)/BBB-sf/NR 17.364 6.250% 9.98 53.8% 14.1%

 

NON-OFFERED ELIGIBLE VERTICAL INTEREST

CLASS DBRS/FITCH/MOODY'S SIZE($MM) C/E WAL CUM LTV NOI DY
RR NR/NR/NR 48.742 N/A 9.26 N/A N/A

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $974,841,841
NUMBER OF LOANS: 69
NUMBER OF PROPERTIES: 115
WA CUT-OFF LTV: 57.3%
WA BALLOON LTV: 52.9%
WA U/W NCF DSCR: 2.24x
WA U/W NOI DEBT YIELD: 13.2%
WA MORTGAGE RATE: 4.852%
TOP TEN LOANS %: 49.7%
WA REM TERM TO MATURITY (MOS): 115
WA REM AMORTIZATION TERM (MOS): 359
WA SEASONING (MOS): 2
   
LOAN SELLERS: BANA(37.6%), MSMCH(30.9%), WFB(27.4%), NCB(4.0%)
   
TOP 3 PROPERTY TYPES: OFFICE(31.8%), RETAIL(31.2%), HOSPITALITY(10.7%)
   
TOP 5 STATES: CA(13.9%), NV(13.6%), TX(12.6%), VA(7.9%), FL(7.6%)
   
MASTER SERVICERS: WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
   
SPECIAL SERVICERS: KEYBANK NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
   
DIRECTING CERTIFICATEHOLDER: PRIME FINANCE LONG DURATION (B-PIECE) II, L.P.
   
 ANTICIPATED SETTLEMENT: FEBRUARY 21, 2019
   
CONFERENCE CALLS: UPON DEMAND
   

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. 333-226486) 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.

 

-------------------------------------------------------------------------------

If this communication relates to an offering of US registered securities (i) a registration statement has been filed with the SEC, (ii) before investing you should read the filed documents, and (iii) you may obtain these documents from your sales representative, by calling 1-800-326-5897 or visiting www.sec.gov. If this communication relates to a securities offering exempt from US registration, you should contact your sales representative for the complete disclosure package. For information regarding Wells Fargo, see https://www.wellsfargo.com/com/disclaimer/wfid3. In Japan, see:

https://www.wellsfargo.com/com/disclaimer/wfsjb4. This chat will be retained and may be monitored.