0001539497-21-001839.txt : 20211116 0001539497-21-001839.hdr.sgml : 20211116 20211115181236 ACCESSION NUMBER: 0001539497-21-001839 CONFORMED SUBMISSION TYPE: FWP PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20211116 DATE AS OF CHANGE: 20211115 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BANK 2021-BNK37 CENTRAL INDEX KEY: 0001889297 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: 333-257991-01 FILM NUMBER: 211413128 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 n2785_x14-publiciopricing.htm FREE WRITING PROSPECTUS

		FREE WRITING PROSPECTUS
		FILED PURSUANT TO RULE 433
		REGISTRATION FILE NO.: 333-257991-01

From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 11/15/21 15:55:24 UTC-5:00

To: [REDACTED]

Subject: NEW ISSUE CMBS: BANK 2021-BNK37 *PUBLIC IO PRICING DETAILS*

BANK 2021-BNK37 - PUBLIC NEW ISSUE

**PUBLIC IO PRICING DETAILS** $1,123.582MM FIXED-RATE CMBS OFFERING

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

CO-MANAGERS:	ACADEMY SECURITIES, INC.
	DREXEL HAMILTON, LLC
	SIEBERT WILLIAMS SHANK & CO., LLC

OFFERED CERTIFICATES - PUBLIC

CLASS	FITCH/KBRA/MOODY'S	SIZE($MM)	SPRD	CPN%	YLD%	$PX
X-A	AAAsf/AAA(sf)/Aaa(sf)	880.008	T+100	0.61260	2.5513	4.4632

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS	FITCH/KBRA/MOODY'S	SIZE($MM)	C/E	WAL	CUM LTV	NOI DY
X-D	BBB-sf/BBB-(sf)/NR	55.000	N/A	N/A	N/A	N/A
D	BBBsf/BBB+(sf)/NR	31.428	8.125%	9.98	42.6%	14.8%
E	BBB-sf/BBB-(sf)/NR	23.572	6.250%	9.98	43.5%	14.5%

NON-OFFERED ELIGIBLE VERTICAL INTEREST

CLASS	FITCH/KBRA/MOODY'S	SIZE($MM)	C/E	WAL	CUM LTV	NOI DY
RRI	NR/NR/NR	~66.166	N/A	8.98	N/A	N/A

COLLATERAL SUMMARY

INITIAL POOL BALANCE:	$1,323,320,792
NUMBER OF LOANS:	80
NUMBER OF PROPERTIES:	137
WA CUT-OFF LTV:	46.4%
WA BALLOON LTV:	44.6%
WA U/W NCF DSCR:	3.93x
WA U/W NOI DEBT YIELD:	13.6%
WA MORTGAGE RATE:	3.1294%
TOP TEN LOANS %:	53.6%
WA REM TERM TO MATURITY (MOS):	110
WA REM AMORTIZATION TERM (MOS):	364
WA SEASONING (MOS):	1

LOAN SELLERS:	WFB(41.3%), BANA(26.4%), MSMCH(25.8%), NCB(4.6%), BANA/WFB(1.9%)

TOP 3 PROPERTY TYPES:	OFFICE(36.3%), RETAIL(32.4%), MULTIFAMILY(13.8%)

TOP 5 STATES:	NY(37.2%), TX(13.7%), CA(11.5%), IL(9.5%), AZ(3.6%)

MASTER SERVICER:	WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.

SPECIAL SERVICER:	CWCAPITAL ASSET MANAGEMENT LLC AND NATIONAL COOPERATIVE BANK, N.A.

DIRECTING CERTIFICATEHOLDER:	BIG BNK37, LLC

DOCUMENTS & TIMING
TERM SHEET, ANNEX A-1:	ATTACHED
PRELIM PROSPECTUS:	AVAILABLE
PRESALE REPORTS:	AVAILABLE
ANTICIPATED SETTLEMENT:	NOVEMBER 22, 2021

THIRD PARTY PASSWORDS:
Name PW
BBG/Trepp BANK 2021-BN37 2021BNK37
Intex BNK21B37 pgeli38dic2kflmu1eqv6z

CONFERENCE CALLS:	UPON DEMAND

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. 333-257991) 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.

If this communication relates to an offering of US registered securities (i) a registration statement has been filed with the SEC, (ii) before investing you should read the filed documents, and (iii) you may obtain these documents from your sales representative, by calling 1-800-326-5897 or visiting www.sec.gov. If this communication relates to a securities offering exempt from US registration, you should contact your sales representative for the complete disclosure package. For information regarding Wells Fargo, see https://www.wellsfargo.com/com/disclaimer/wfid3. In Japan, see: https://www.wellsfargo.com/com/disclaimer/wfsjb4. This chat will be retained and may be monitored.