| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-191331-10 | ||
Sent:Thursday, October 08, 2015 1:25 PM
Subject:GSMS 2015-GC34 – Price Guidance (Public)(external)
GSMS 2015-GC34 -- Price Guidance (Public)(external)
777.332mm Fixed Rate CMBS Offering
Co-Lead Managers and Joint Bookrunners: Goldman, Sachs & Co. and Citigroup Global Markets Inc.
Co-Managers: Cantor Fitzgerald & Co. and Drexel Hamilton, LLC
| Price Guidance | ||||||
| Class | Moody’s/Fitch/KBRA | Size($mm) | WAL(yr) | C/E | Spread | Trgt $px |
| A-1 | Aaa(sf)/AAAsf/AAA(sf) | 30.283 | 2.90 | 30.000% | S+60a | 100-00 |
| A-2 | Aaa(sf)/AAAsf/AAA(sf) | 28.822 | 4.96 | 30.000% | S+75a | 103-00 |
| A-3 | Aaa(sf)/AAAsf/AAA(sf) | 185.000 | 9.81 | 30.000% | **Not Available** | |
| A-4 | Aaa(sf)/AAAsf/AAA(sf) | 284.382 | 9.88 | 30.000% | S+125a | 103-00 |
| A-AB | Aaa(sf)/AAAsf/AAA(sf) | 65.382 | 7.42 | 30.000% | S+115a | 103-00 |
| A-S | Aa2(sf)/AAAsf/AAA(sf) | 40.298 | 9.93 | 25.250% | S+170a | 103-00 |
| B | NR/AA-sf/AA-(sf) | 48.782 | 9.96 | 19.500% | S+220a | 103-00 |
| C | NR/A-sf/A-(sf) | 42.419 | 9.96 | 14.500% | S+320a | WAC |
| D | NR/BBB-sf/BBB-(sf) | 51.964 | 9.96 | 8.375% | S+520a | Fixed (L70s) |
| Collateral Summary | |
| Initial Pool Balance: | $848.385 |
| Number of Mortgage Loans: | 57 |
| Number of Mortgaged Properties: | 75 |
| Average Cut-off Date Mortgage Loan Balance: | $14.884mm |
| Weighted Average Mortgage Interest Rate: | 4.6761% |
| Weighted Average Remaining Term to Maturity/ARD (months): | 117 |
| Weighted Average Remaining Amortization Term (months): | 357 |
| Weighted Average Cut-off Date LTV Ratio: | 64.2% |
| Weighted Average Maturity Date/ARD LTV Ratio: | 54.6% |
| Weighted Average Underwritten Debt Service Coverage Ratio: | 1.52x |
| Weighted Average Debt Yield on Underwritten NOI: | 10.0% |
| % of Mortgage Loans w/ Mezzanine Debt: | 1.4% |
| % of Mortgage Loans w/ Preferred Equity/Return: | 10.3% |
| % of Mortgaged Properties w/ Single Tenants: | 6.4% |
| Property Type: | 24.5% Office, 23.3% Retail, 16.6% Mixed Use, 13.6 Hospitality, 12.0% Multifamily, 4.2% Manufactured Housing, 2.9% Industrial, 1.8% Self Storage, 1.2% Senior Housing |
| Top 5 States: | 18.0% TX, 17.7% NY, 12.1% IL, 9.2% PA, 7.9% OH |
| Anticipated Timing | |
| Anticipated Pricing: | Early Week of Oct 12th |
| Anticipated Closing: | Fri, October 23rd |
The information in this free writing prospectus is preliminary and may be supplemented or changed prior to the time of sale.
The depositor has filed a registration statement (including the prospectus) with the Securities and Exchange Commission (“SEC”) (SEC File No. 333-191331) 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 website at www.sec.gov. Alternatively, the depositor or Citigroup Global Markets Inc., Goldman, Sachs & Co., any other underwriter or any dealer participating in this offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-831-9146.
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