FWP 1 n1983-x11_publicpricedetails.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-13
     

 

From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 02/07/20 11:31:21

To: [REDACTED] (WELLS FARGO SECURITI )

Subject: NEW ISSUE CMBS: WFCM 2020-C55 *PUBLIC PRICING DETAILS*

 

WFCM 2020-C55 - PUBLIC NEW ISSUE

**PRICING DETAILS** $852.106 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

CLS FITCH/KBRA/MDYS SIZE($MM)^ C/E WAL SPRD CPN% YLD$ $PX
A-1 AAAsf/AAA(sf)/Aaa(sf) 19.429 30.000% 2.67 IS+40 1.8560 1.8358 99.9980
A-2 AAAsf/AAA(sf)/Aaa(sf) 17.428 30.000% 4.86 IS+68 2.7660 2.1019 102.9989
A-3 AAAsf/AAA(sf)/Aaa(sf) 23.207 30.000% 6.82 IS+84 2.4620 2.2994 100.9987
A-SB AAAsf/AAA(sf)/Aaa(sf) 30.911 30.000% 7.32 IS+73 2.6510 2.2018 102.9937
A-4 AAAsf/AAA(sf)/Aaa(sf) 175.000 30.000% 9.77 IS+82 2.4740 2.3606 100.9929
A-5 AAAsf/AAA(sf)/Aaa(sf) 378.756 30.000% 9.84 IS+84 2.7250 2.3826 102.9994
A-S AAAsf/AAA(sf)/Aa2(sf) 92.104 20.000% 9.88 IS+105 2.9370 2.5938 102.9982
B AA-sf/AA-(sf)/NR 42.598 15.375% 9.89 IS+125 3.1390 2.7940 102.9979
C A-sf/A-(sf)/NR 35.691 11.500% 9.97 IS+165 3.5420 3.1961 102.9941

 

^Offered sizes net of RR

 

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS FITCH/KBRA/MDYS SIZE($MM)^ C/E WAL CUM LTV NOI DY
D BBBsf/BBB(sf)/NR 24.177 8.875% 9.97 54.5% 11.4%
E BBB-sf/BBB-(sf)/NR 19.572 6.750% 9.97 55.7% 11.1%

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $962,831,712
NUMBER OF LOANS: 66
NUMBER OF PROPERTIES: 100
WA CUT-OFF LTV: 59.8%
WA BALLOON LTV: 56.0%
WA U/W NCF DSCR: 2.27x
WA U/W NOI DEBT YIELD: 10.4%
WA MORTGAGE RATE: 3.948%
TOP TEN LOANS %: 44.3%
WA REM TERM TO MATURITY (MOS): 117
WA REM AMORTIZATION TERM (MOS):         357
WA SEASONING (MOS): 1
   
LOAN SELLERS: WFB(28.7%), BARCLAYS(20.4%), LMF(18.3%), LCF(13.9%), RREF(10.1%), AREF(8.6%)
   
TOP 3 PROPERTY TYPES: OFFICE(26.5%), RETAIL(26.3%), MULTIFAMILY(14.9%)
   
TOP 5 STATES: NY(26.1%), PA(7.7%), CA(7.3%), NV(6.9%), NC(6.4%)
   
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
   
SPECIAL SERVICER: RIALTO CAPITAL ADVISORS, LLC
   
DIRECTING CERTIFICATEHOLDER: RIALTO REAL ESTATE FUND IV - DEBT, LP
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
ANTICIPATED SETTLEMENT: FEBRUARY 27, 2020
   
CONFERENCE CALLS: UPON DEMAND
   
THIRD PARTY PASSWORDS:  
BBG and Trepp:  
Dealname: WFCM 202-C55
Password: 2020C55
Intex:  
Dealname: WFC20C55
Password: qed3ad48sg38j2fez

 

 

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.