FWP 1 n2221-x12pricingdetails.htm FREE WRITING PROSPECTUS

 

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-14
     

 

 

 

From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 05/27/20 16:29:19
To: [REDACTED].
Subject: NEW ISSUE CMBS: WFCM 2020-C56 *PUBLIC PRICING DETAILS*

WFCM 2020-C56 - PUBLIC NEW ISSUE

**PRICE PRICING DETAILS** $638.831 MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS & JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC BARCLAYS CAPITAL INC. CREDIT SUISSE SECURITIES (USA) LLC UBS SECURITIES LLC
   
CO-MANAGER: ACADEMY SECURITIES, INC. DREXEL HAMILTON, LLC

 

OFFERED CERTIFICATES - PUBLIC

CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL SPRD CPN% YLD% $PX
A-1 AAAsf/AAA(sf)/Aaa(sf) 18.464 30.000% 2.54 S+105 1.3410 1.3246 99.9979
A-2 AAAsf/AAA(sf)/Aaa(sf) 54.939 30.000% 4.62 S+145 2.4980 1.8060 102.9978
A-3 AAAsf/AAA(sf)/Aaa(sf) 2.605 30.000% 6.70 S+145 1.9400 1.9363 99.9965
A-SB AAAsf/AAA(sf)/Aaa(sf) 29.226 30.000% 7.14 S+145 2.4220 1.9645 102.9972
A-4 AAAsf/AAA(sf)/Aaa(sf) 185.000 30.000% 9.55 S+143 2.1940 2.0779 100.9974
A-5 AAAsf/AAA(sf)/Aaa(sf) 221.562 30.000% 9.72 S+145 2.4480 2.1057 102.9921
A-S AAAsf/AAA(sf)/Aa2(sf) 62.147 21.500% 9.78 S+210 3.1070 2.7587 102.9988
B AA-sf/AA-(sf)/NR 35.643 16.625% 9.78 S+325 3.7506 3.9087 99.1553
C A-sf/A-(sf)/NR 29.245 12.625% 9.79 S+515 3.7506 5.8091 85.2906

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $731,138,094
NUMBER OF LOANS: 46
NUMBER OF PROPERTIES: 64
WA CUT-OFF LTV: 58.4%
WA BALLOON LTV: 53.9%
WA U/W NCF DSCR: 2.22x
WA U/W NOI DEBT YIELD: 9.8%
WA MORTGAGE RATE: 3.769%
TOP TEN LOANS %: 51.4%
WA REM TERM TO MATURITY (MOS): 111
WA REM AMORTIZATION TERM (MOS): 357
WA SEASONING (MOS): 4

 

LOAN SELLERS: COLUMN(20.9%), LMF(19.6%), UBS(19.0%), BARCLAYS(15.4%), LCF(9.3%), AREF(8.5%), WFB(7.3%)
   
TOP 3 PROPERTY TYPES: MULTIFAMILY(43.2%), OFFICE(23.1%), RETAIL(9.7%)
   
TOP 5 STATES: CA(21.7%), TX(15.5%), NJ(12.4%), NY(9.6%), MA(7.6%)
   
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
   
SPECIAL SERVICER: MIDLAND LOAN SERVICES, A DIVISION OF PNC BANK, NATIONAL ASSOCIATION
   
DIRECTING CERTIFICATEHOLDER: KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS II L.P.

 

DOCUMENTS & TIMING

TERM SHEET, ANNEX A-1: ATTACHED
PRELIM PROSPECTUS: AVAILABLE
PRESALE REPORTS: AVAILABLE
ANTICIPATED SETTLEMENT: JUNE 4, 2020

 

THIRD PARTY PASSWORDS:

BBG and Trepp:   Intex:  
Dealname: WFCM 2020-C56 Dealname: WFC20C56
Password: WF20C56 Password: fv9d0757d0e5lft02fc1z

 

CONFERENCE CALLS: UPON DEMAND

 

PRE-RECORDED GLOBAL INVESTOR CALL: WWW.NETROADSHOW.COM
REVIEW CODE: WFCMC56
FINAL LINK: www.netroadshow.com/nrs/home/#!/?show=a5156c23

 

 

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.