FWP 1 n3913_publicnewissue-x18.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-257991-09
     

----- Original Message -----
From: WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITIES LLC)
At: 12/07/23 15:13:42 UTC-05:00

MSWF 2023-2 - PUBLIC NEW ISSUE **XA STATUS**

$828.74MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS  
& JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC
  MORGAN STANLEY & CO. LLC
  BOFA SECURITIES, INC.
CO-MANAGERS: ACADEMY SECURITIES, INC.
  DREXEL HAMILTON, LLC
  SIEBERT WILLIAMS SHANK & CO., LLC

 

OFFERED CERTIFICATES - PUBLIC
CLASS FITCH/KBRA/MOODY'S SIZE($MM) ~PROCEEDS($MM) PX GUID STATUS / AVAIL
X-A AAAsf/AAA(sf)/Aaa(sf) 640.126 49.35 T+250A ~3.3x / ~7.65x
X-B A-sf/AAA(sf)/NR 188.609   6.03 AUCTION
         
NON-OFFERED CERTIFICATES - PRIVATE (144A)
CLASS FITCH/KBRA/MOODY'S SIZE($MM)    
X-D BBB-sf/BBB(sf)/NR 24.005    

 

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $914,466,875
NUMBER OF LOANS: 46
NUMBER OF PROPERTIES: 100
WA CUT-OFF LTV: 49.1%
WA BALLOON LTV: 48.4%
WA U/W NCF DSCR: 1.99x
WA U/W NOI DEBT YIELD: 14.8%
WA MORTGAGE RATE: 7.0381%
TOP TEN LOANS %: 59.9%
WA REM TERM TO MATURITY (MOS): 113
WA REM AMORTIZATION TERM (MOS): 359
WA SEASONING (MOS): 3
   
LOAN SELLERS: WFB (31.5%), MSMCH (21.5%), AREF2 (20.7%),
  BANA (10.0%), BANA/MSMCH (8.2%), SMC (8.1%)
   
TOP 3 PROPERTY TYPES: RETAIL (44.1%), MULTIFAMILY (12.5%),
  HOSPITALITY (11.5%)
   
TOP 5 STATES: CA (13.5%), MD (11.8%), NY (9.8%), TX (9.5%),
  PA (8.6%)
   
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
SPECIAL SERVICER: ARGENTIC SERVICES COMPANY LP
   
DIRECTING CERTIFICATEHOLDER: ARGENTIC SECURITIES HOLDINGS 2 CAYMAN LIMITED
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PRELIM PROSPECTUS: ATTACHED
PRESALE REPORTS: AVILABLE
ANTICIPATED PRICING: WEEK OF December 4, 2023
ANTICIPATED SETTLEMENT: December 21, 2023
   
THIRD PARTY PASSWORDS:  
Name PW  
BBG/Trepp MSWF 2023-2 MSWF232  
Intex MSWF2302 0227hsq17g7gvmarp6v1z  
To participate in the Conference Call, register using the link or the button below to:

 

Registration Link: https://www.netroadshow.com/events/login?show=25c378d1&confId=58554

 

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.