0001539497-20-001084.txt : 20200819 0001539497-20-001084.hdr.sgml : 20200819 20200819102306 ACCESSION NUMBER: 0001539497-20-001084 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20200819 DATE AS OF CHANGE: 20200819 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Wells Fargo Commercial Mortgage Trust 2020-C57 CENTRAL INDEX KEY: 0001818654 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP SEC ACT: 1934 Act SEC FILE NUMBER: 333-226486-15 FILM NUMBER: 201115648 BUSINESS ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 BUSINESS PHONE: 7043832556 MAIL ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: WELLS FARGO COMMERCIAL MORTGAGE SECURITIES INC CENTRAL INDEX KEY: 0000850779 STANDARD INDUSTRIAL CLASSIFICATION: ASSET-BACKED SECURITIES [6189] IRS NUMBER: 561643598 STATE OF INCORPORATION: NC FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: FWP BUSINESS ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 BUSINESS PHONE: 7043832556 MAIL ADDRESS: STREET 1: 301 SOUTH COLLEGE STREET CITY: CHARLOTTE STATE: NC ZIP: 28228-0166 FORMER COMPANY: FORMER CONFORMED NAME: WACHOVIA COMMERCIAL MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 20020304 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION COMMERCIAL MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 19960520 FORMER COMPANY: FORMER CONFORMED NAME: FIRST UNION MORTGAGE SECURITIES INC DATE OF NAME CHANGE: 19951013 FWP 1 n2278_launch-x9.htm FREE WRITING PROSPECTUS

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-226486-15

From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 08/19/20 08:43:31

To: [REDACTED]
Subject: NEW ISSUE CMBS: WFCM 2020-C57 *PUBLIC LAUNCH*

WFCM 2020-C57 - PUBLIC NEW ISSUE
**LAUNCH** $464.547 MM FIXED-RATE CMBS OFFERING

CO-LEAD MANAGERS
& JOINT BOOKRUNNERS:	WELLS FARGO SECURITIES, LLC
	UBS SECURITIES LLC

CO-MANAGER:	ACADEMY SECURITIES, INC.
	DREXEL HAMILTON, LLC

OFFERED CERTIFICATES - PUBLIC

CLASS	FITCH/KBRA/MDYS	SIZE($MM)	C/E	WAL	CUM LTV	NOI DY	LAUNCH
A-1	AAAsf/AAA(sf)/Aaa(sf)	23.372	30.500%	2.93	45.2%	14.5%	IS+67
A-SB	AAAsf/AAA(sf)/Aaa(sf)	38.042	30.500%	7.20	45.2%	14.5%	IS+100
A-3	AAAsf/AAA(sf)/Aaa(sf)	160.000	30.500%	9.47	45.2%	14.5%	IS+114
A-4	AAAsf/AAA(sf)/Aaa(sf)	168.161	30.500%	9.64	45.2%	14.5%	IS+116
A-S	AA+sf/AAA(sf)/Aa2(sf)	28.727	25.375%	9.97	48.6%	13.5%	IS+170
B	AA-sf/AAA(sf)/NR	15.415	22.625%	9.97	50.4%	13.1%	IS+200
C	A-sf/AA-(sf)/NR	30.830	17.125%	9.97	54.0%	12.2%	IS+375

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS	FITCH/KBRA/MDYS	SIZE($MM)	C/E	WAL	CUM LTV	NOI DY
D	BBBsf/A(sf)/NR	12.738	14.853%	9.97	55.4%	11.9%

COLLATERAL SUMMARY

INITIAL POOL BALANCE:	$560,539,656
NUMBER OF LOANS:	40
NUMBER OF PROPERTIES:	71
WA CUT-OFF LTV:	65.1%
WA BALLOON LTV:	57.1%
WA U/W NCF DSCR:	1.80x
WA U/W NOI DEBT YIELD:	10.1%
WA MORTGAGE RATE:	4.048%
TOP TEN LOANS %:	56.9%
WA REM TERM TO MATURITY (MOS):	117
WA REM AMORTIZATION TERM (MOS):	359
WA SEASONING (MOS):	3

LOAN SELLERS:	UBS(34.7%), LMF(29.4%), WFB(25.2%), LCF(10.8%)

TOP 3 PROPERTY TYPES:	MULTIFAMILY(20.0%), OFFICE(19.6%), HOSPITALITY(16.1%)

TOP 5 STATES:	CA(19.7%), NY(12.3%), TX(9.2%), PA(8.0%), VA(6.2%)

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
PRESALE REPORTS:	AVAILABLE
ANTICIPATED PRICING:	TODAY AT 11AM EST
ANTICIPATED SETTLEMENT:	AUGUST 26, 2020

CONFERENCE CALLS:	UPON DEMAND

PRE-RECORDED GLOBAL INVESTOR CALL:	WWW.NETROADSHOW.COM
REVIEW CODE:	WFCMC57
FINAL LINK:	www.netroadshow.com/nrs/home/#!/?show=f871edb0

THIRD PARTY PASSWORDS:
BBG and Trepp:
Dealname:	WFCM 2020-C57
Password:	WFCMC57

Intex:
Dealname:	WFC20C57
Password:	p8p2vgdnd8r2kq30z

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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