FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-226486-04 | ||
From: | Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 02/21/19 14:02:27 |
To: | Timothy Green (WELLS FARGO SECURITI ) |
Subject: | NEW ISSUE CMBS: WFCM 2019-C49 *PUBLIC LAUNCH* |
WFCM
2019-C49 - PUBLIC NEW ISSUE
**LAUNCH** $667.772 MM FIXED-RATE CMBS OFFERING
CO-LEAD MANAGERS & JOINT BOOKRUNNERS: |
WELLS FARGO SECURITIES, LLC |
BARCLAYS CAPITAL INC. | |
CO-MANAGER: | ACADEMY SECURITIES, INC. |
DREXEL HAMILTON, LLC |
OFFERED CERTIFICATES - PUBLIC
CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY | LAUNCH |
A-1 | AAA(sf)/AAAsf/Aaa(sf) | 18.904 | 30.000% | 2.80 | 44.0% | 15.6% | +35 |
A-2 | AAA(sf)/AAAsf/Aaa(sf) | 20.083 | 30.000% | 4.89 | 44.0% | 15.6% | +62 |
A-3 | AAA(sf)/AAAsf/Aaa(sf) | 47.500 | 30.000% | 6.86 | 44.0% | 15.6% | +98 |
A-SB | AAA(sf)/AAAsf/Aaa(sf) | 31.974 | 30.000% | 7.36 | 44.0% | 15.6% | +85 |
A-4* | AAA(sf)/AAAsf/Aaa(sf) | 200.000 | 30.000% | 9.81 | 44.0% | 15.6% | +96 |
A-5* | AAA(sf)/AAAsf/Aaa(sf) | 223.499 | 30.000% | 9.89 | 44.0% | 15.6% | +98 |
A-S | AAA(sf)/AAAsf/Aa2(sf) | 46.453 | 24.000% | 9.94 | 47.7% | 14.4% | +120 |
B | AA(sf)/AA-sf/NR | 40.647 | 18.750% | 9.94 | 51.0% | 13.5% | +150 |
C | A(sf)/A-sf/NR | 38.712 | 13.750% | 9.94 | 54.2% | 12.7% | +220 |
*Sizes
and WAL’s are subject to change as detailed in the attached Term Sheet.
NON-OFFERED
CERTIFICATES - PRIVATE (144A)
CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY |
X-D | A(low)(sf)/BBB-sf/NR | 26.014 | N/A | N/A | N/A | N/A |
D | BBB(high)(sf)/BBB-sf/NR | 26.014 | 10.390% | 9.94 | 56.3% | 12.2% |
COLLATERAL
SUMMARY
INITIAL POOL BALANCE: | $774,228,768 |
NUMBER OF LOANS: | 64 |
NUMBER OF PROPERTIES: | 71 |
WA CUT-OFF LTV: | 62.8% |
WA BALLOON LTV: | 58.3% |
WA U/W NCF DSCR: | 1.76x |
WA U/W NOI DEBT YIELD: | 10.9% |
WA MORTGAGE RATE: | 5.158% |
TOP TEN LOANS %: | 46.0% |
WA REM TERM TO MATURITY (MOS): | 115 |
WA REM AMORTIZATION TERM (MOS): | 353 |
WA SEASONING (MOS): | 2 |
LOAN SELLERS: | WFB(37.6%), LCF(21.9%), RMF(19.4%), BARCLAYS(15.5%), CIII(5.6%) |
TOP 3 PROPERTY TYPES: | RETAIL(29.8%), HOSPITALITY(21.9%), OFFICE(14.8%) |
TOP 5 STATES: | CA(15.1%), TX(10.0%), FL(9.9%), VA(8.8%), NY(8.0%) |
MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
SPECIAL SERVICER: | MIDLAND LOAN SERVICES |
DIRECTING CERTIFICATEHOLDER: | KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS AGGREGATOR I L.P. |
DOCUMENTS & TIMING | |
TERM SHEET, ANNEX A-1: | ATTACHED |
PRELIM PROSPECTUS: | ATTACHED |
ANTICIPATED PRICING: | TODAY @ 3:30PM |
ANTICIPATED SETTLEMENT: | MARCH 5, 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.
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