FWP 1 n2577-x11_publicpricing.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 16:49:43

To: [REDACTED]

Subject: NEW ISSUE CMBS: BANK 2021-BNK34 *PUBLIC PRICING DETAILS*

BANK 2021-BNK34 - PUBLIC NEW ISSUE

**PRICING DETAILS** $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 SPREAD CPN% YLD% $PX
A-1 AAAsf/AAA(sf)/AAA(sf) 4.820 30.000% 2.66 36.0% 17.0% IS+20 0.5710 0.5642 99.9974
A-2 AAAsf/AAA(sf)/AAA(sf) 66.608 30.000% 4.98 36.0% 17.0% IS+45 1.9350 1.3001 102.9991
A-3 AAAsf/AAA(sf)/AAA(sf) 8.695 30.000% 6.89 36.0% 17.0% IS+64 1.8070 1.8037 99.9950
A-SB AAAsf/AAA(sf)/AAA(sf) 7.221 30.000% 7.44 36.0% 17.0% IS+52 2.1870 1.7503 102.9978
A-4* AAAsf/AAA(sf)/AAA(sf) 167.000 30.000% 9.37 36.0% 17.0% IS+62 2.1560 2.0376 100.9990
A-5* AAAsf/AAA(sf)/AAA(sf) 432.830 30.000% 9.93 36.0% 17.0% IS+64 2.4380 2.1020 102.9966
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 2.5720 2.2358 102.9977
B AA-sf/AA(sf)/AA-(sf) 65.036 16.375% 9.98 43.0% 14.2% IS+95 2.7540 2.4158 102.9971
C A-sf/A(sf)/A-(sf) 38.040 12.500% 9.98 45.0% 13.6% IS+130 3.1080 2.7658 102.9995

 

*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: AVAILABLE
ANTICIPATED PRICING: PRICED
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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