0001539497-21-000073.txt : 20210129 0001539497-21-000073.hdr.sgml : 20210129 20210128173937 ACCESSION NUMBER: 0001539497-21-000073 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210129 DATE AS OF CHANGE: 20210128 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BANK 2021-BNK31 CENTRAL INDEX KEY: 0001840121 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: 333-226486-18 FILM NUMBER: 21566638 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 n2404_publicpricing-x11.htm FREE WRITING PROSPECTUS

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-226486-18

From:	Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 01/28/21 15:18:13
To:	[REDACTED]
Subject:	NEW ISSUE CMBS: BANK 2021-BNK31 PUBLIC PRICING DETAILS

BANK 2021-BNK31 - PUBLIC NEW ISSUE

**PRICING DETAILS** $768.559MM FIXED-RATE CMBS OFFERING

CO-LEAD MANAGERS & JOINT BOOKRUNNERS:	WELLS FARGO SECURITIES, LLC BOFA SECURITIES, INC. MORGAN STANLEY & CO. LLC

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

OFFERED CERTIFICATES - PUBLIC

CLASS	Fitch/KBRA/S&P	SIZE($MM)	WAL	SPD	YLD%	CPN%	$PRICE
A-1	AAAsf/AAA(sf)/AAA(sf)	24.155	2.78	+20	0.4499	0.4550	99.99740
A-SB	AAAsf/AAA(sf)/AAA(sf)	27.859	7.09	+48	1.2901	1.7390	102.99340
A-3	AAAsf/AAA(sf)/AAA(sf)	252.000	9.58	+59	1.6569	1.7710	100.99240
A-4	AAAsf/AAA(sf)/AAA(sf)	297.934	9.89	+61	1.7043	2.0360	102.99240
A-S	AAAsf/AAA(sf)/AAA(sf)	94.592	9.93	+78	1.8780	2.2110	102.99540
B	AA-sf/AA-(sf)/AA-(sf)	37.622	9.93	+95	2.0480	2.3830	102.99400
C	A-sf/A-(sf)/NR	34.397	9.93	+145	2.5480	2.5450	99.99270

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS	Fitch/KBRA/S&P	SIZE($MM)	C/E	WAL	CUM LTV	NOI DY
D	BBBsf/BBB(sf)/NR	21.499	8.125%	9.93	47.9%	13.2%
E	BBB-sf/BBB-(sf)/NR	16.123	6.250%	9.96	48.9%	12.9%

NON-OFFERED ELIGIBLE VERTICAL INTEREST

CLASS	Fitch/KBRA/S&P	SIZE($MM)	C/E	WAL	CUM LTV	NOI DY
RRI	NR/NR/NR	~45.259	N/A	9.53	N/A	N/A

COLLATERAL SUMMARY

INITIAL POOL BALANCE:	$905,186,404
NUMBER OF LOANS:	61
NUMBER OF PROPERTIES:	126
WA CUT-OFF LTV:	52.1%
WA BALLOON LTV:	49.1%
WA U/W NCF DSCR:	3.25x
WA U/W NOI DEBT YIELD:	12.1%
WA MORTGAGE RATE:	3.2111%
TOP TEN LOANS %:	55.4%
WA REM TERM TO MATURITY (MOS):	118
WA REM AMORTIZATION TERM (MOS):	332
WA SEASONING (MOS):	2

LOAN SELLERS:	WFB(34.4%), MSMCH(30.3%), BANA(28.7%), NCB(6.6%)

TOP 3 PROPERTY TYPES:	OFFICE(33.9%), RETAIL(25.4%), SELF STORAGE(16.4%)

TOP 5 STATES:	CA(24.6%), NY(20.9%), FL(10.3%), IL(5.3%), OH(4.8%)

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:	LD II HOLDCO XIV, LLC AND/OR ONE OF ITS AFFILIATES

DOCUMENTS & TIMING
TERM SHEET, ANNEX A-1:	ATTACHED
PROSPECTUS:	ATTACHED
ANTICIPATED SETTLEMENT:	FEBRUARY 11, 2021

THIRD PARTY PASSWORDS:
BBG and Trepp:
Dealname:	BANK 2021-BN31
Password:	BANK31

Intex:
Dealname:	BNK21B31
Password:	cjrlj4g0en266eupvoh1z

CONFERENCE CALLS:	UPON DEMAND

LIVE GLOBAL INVESTOR CALL ON MONDAY, JANUARY 25TH AT 11AM ET:

PARTICIPANT OPERATOR ASSISTED DIAL-IN

United States Toll/International: +1 404 975 4839

United States Toll-Free: +1 833 470 1428

Access Code: 178531

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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