0001539497-21-000860.txt : 20210615 0001539497-21-000860.hdr.sgml : 20210615 20210614175824 ACCESSION NUMBER: 0001539497-21-000860 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20210615 DATE AS OF CHANGE: 20210614 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BANK 2021-BNK34 CENTRAL INDEX KEY: 0001863688 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: 333-226486-20 FILM NUMBER: 211015899 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 n2577-x12_publiclaunch.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: 06/14/21 15:55:06

To: [REDACTED]

Subject: NEW ISSUE CMBS: BANK 2021-BNK34 *PUBLIC LAUNCH*

BANK 2021-BNK34 - PUBLIC NEW ISSUE

**LAUNCH** $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	LAUNCH
A-1	AAAsf/AAA(sf)/AAA(sf)	4.820	30.000%	2.66	36.0%	17.0%	IS+20
A-2	AAAsf/AAA(sf)/AAA(sf)	66.608	30.000%	4.98	36.0%	17.0%	IS+45
A-3	AAAsf/AAA(sf)/AAA(sf)	8.695	30.000%	6.89	36.0%	17.0%	N/A
A-SB	AAAsf/AAA(sf)/AAA(sf)	7.221	30.000%	7.44	36.0%	17.0%	N/A
A-4*	AAAsf/AAA(sf)/AAA(sf)	167.000	30.000%	9.37	36.0%	17.0%	IS+62
A-5*	AAAsf/AAA(sf)/AAA(sf)	432.830	30.000%	9.93	36.0%	17.0%	IS+64
X-A	AAAsf/AAA(sf)/AAA(sf)	687.174	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
A-S	AAAsf/AAA(sf)/AAA(sf)	68.718	23.000%	9.98	39.6%	15.5%	IS+77
B	AA-sf/AA(sf)/AA-(sf)	65.036	16.375%	9.98	43.0%	14.2%	IS+95
C	A-sf/A(sf)/A-(sf)	38.040	12.500%	9.98	45.0%	13.6%	IS+130

*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:	TODAY AT 4:10PM
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.