FWP 1 n2577-x10_publicprice.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-20
     

 

From Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 06/11/21 08:46:06
To: [REDACTED]
Subject:   NEW ISSUE CMBS: BANK 2021-BNK34 *PUBLIC PRICE GUIDANCE*

 

BANK 2021-BNK34 - PUBLIC NEW ISSUE
**PRICE GUIDANCE** $858.968MM 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
  SIEBERT WILLIAMS SHANK & CO., LLC
   

 

OFFERED CERTIFICATES - PUBLIC

CLS Fitch/KBRA/S&P SIZE($MM) C/E WAL CUM LTV NOI DY PX GUID
A-1 AAAsf/AAA(sf)/AAA(sf) 4.820 30.000% 2.66 36.0% 17.0% IS+ 20A
A-2 AAAsf/AAA(sf)/AAA(sf) 66.608 30.000% 4.98 36.0% 17.0% IS+ 45A
A-3 AAAsf/AAA(sf)/AAA(sf) 8.695 30.000% 6.89 36.0% 17.0% N/A N/A
A-SB AAAsf/AAA(sf)/AAA(sf) 7.221 30.000% 7.44 36.0% 17.0% N/A N/A
A-4* AAAsf/AAA(sf)/AAA(sf) 250.000 30.000% 9.54 36.0% 17.0% A5 -2bps
A-5* AAAsf/AAA(sf)/AAA(sf) 349.830 30.000% 9.94 36.0% 17.0% IS+ 65A
X-A AAAsf/AAA(sf)/AAA(sf) 687.174 N/A N/A N/A N/A N/A N/A
X-B A-sf/AAA(sf)/A-(sf) 171.794 N/A N/A N/A N/A N/A N/A
A-S AAAsf/AAA(sf)/AAA(sf) 68.718 23.000% 9.98 39.6% 15.5% IS+ 80A
B AA-sf/AA(sf)/AA-(sf) 65.036 16.375% 9.98 43.0% 14.2% IS+ 100A
C A-sf/A(sf)/A-(sf) 38.040 12.500% 9.98 45.0% 13.6% IS+ 135A

 

*Sizes and WAL’s are subject to change as detailed in the attached Term Sheet.

 

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLS Fitch/KBRA/S&P SIZE($MM) C/E WAL CUM LTV NOI DY
X-D BBB-sf/BBB(sf)/NR 52.765 N/A N/A N/A N/A
D BBBsf/BBB+(sf)/NR 28.223 9.625% 9.98 46.5% 13.2%
E BBB-sf/BBB(sf)/NR 24.542 7.125% 9.98 47.8% 12.8%

 

NON-OFFERED ELIGIBLE VERTICAL INTEREST

CLASS Fitch/KBRA/S&P SIZE($MM) C/E WAL CUM LTV NOI DY
RRI NR/NR/NR ~51.667 N/A 9.43 N/A N/A
             

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $1,033,345,645
NUMBER OF LOANS: 56
NUMBER OF PROPERTIES: 71
WA CUT-OFF LTV: 51.4%
WA BALLOON LTV: 51.0%
WA U/W NCF DSCR: 3.43x
WA U/W NOI DEBT YIELD: 11.9%
WA INTEREST RATE: 3.298%
TOP TEN LOANS %: 64.6%
WA REM TERM TO MATURITY (MOS): 114
WA REM AMORTIZATION TERM (MOS):   374
WA SEASONING (MOS): 0
LOAN SELLERS: WFB(36.4%), MSMCH(31.3%), BANA(25.7%), NCB(6.6%)
TOP 3 PROPERTY TYPES: OFFICE(51.4%), MULTIFAMILY(15.1%), RETAIL(14.6%)
TOP 5 STATES: NY(28.8%), CA(14.2%), D.C.(13.6%), NV(8.3%), MD(8.0%)
MASTER SERVICERS: WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
SPECIAL SERVICERS: GREYSTONE SERVICING COMPANY LLC AND NATIONAL COOPERATIVE BANK, N.A.
DIRECTING CERTIFICATEHOLDER: EIGHTFOLD REAL ESTATE CAPITAL FUND V, L.P. or its affiliate
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PROSPECTUS: ATTACHED
PRESALE REPORTS: THIS WEEK
ANTICIPATED PRICING: WEEK OF JUNE 14, 2021
ANTICIPATED SETTLEMENT: JUNE 24, 2021
   
THIRD PARTY PASSWORDS:  
BBG and Trepp:  
Dealname: BANK 2021-BN34
Password: 2021BNK34
   
Intex:  
Dealname: BNK21B34
Password: bs5k7fq5plcbjtcfpnhmaz
CONFERENCE CALLS: UPON DEMAND
   
LIVE GLOBAL INVESTOR CALL ON WEDNESDAY, JUNE 9TH AT 2 PM ET:
PARTICIPANT OPERATOR ASSISTED DIAL-IN
United States Toll/International: +1 404 975 4839
United States Toll-Free: +1 833 470 1428
Access Code: 825051

 

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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