| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-228375-04 | ||
| Subject: | CMBS: $525.333mm BANK 2020-BNK27 - Public - Pricing Details |
| NEW ISSUE CMBS: | $525.333mm BANK 2020-BNK27 |
| CO-LEAD MANAGERS & BOOKRUNNERS: | BofA Securities, Wells Fargo Securities, Morgan Stanley |
| CO-MANAGERS: | Academy Securities and Drexel Hamilton |
PUBLICLY OFFERED CERTIFICATES
| CL | Fitch/KBRA/Moody’s | SIZE($MM) | WAL (YRS) | SPREAD | CPN | $PRICE | YLD |
| A-1 | AAAsf/AAA(sf)/Aaa(sf) | 2.528 | 3.00 | S+85 | 1.122 | 99.9978 | 1.11045 |
| A-SB | AAAsf/AAA(sf)/Aaa(sf) | 4.339 | 7.32 | S+130 | 2.263 | 102.9951 | 1.81916 |
| A-4* | AAAsf/AAA(sf)/Aaa(sf) | 130.000 | 9.47 | S+114 | 1.901 | 100.9987 | 1.78444 |
| A-5* | AAAsf/AAA(sf)/Aaa(sf) | 274.008 | 9.61 | S+115 | 2.144 | 102.9942 | 1.80189 |
| A-S | AAAsf/AAA(sf)/Aa2(sf) | 68.968 | 9.72 | S+155 | 2.551 | 102.9929 | 2.20747 |
| B | AA-sf/AA-(sf)/NR | 24.213 | 9.74 | S+190 | 2.906 | 102.9980 | 2.55858 |
| C | A-sf/A-(sf)/NR | 21.277 | 9.80 | S+285 | 3.223931 | 98.1049 | 3.51182 |
| PRICING DATE: | 6/19/2020 |
| EXPECTED SETTLEMENT: | On or about 6/26/2020 |
| WA CUT-OFF LTV: | 51.0% |
| WA UW NCF DSCR: | 3.80x |
| WA UW NOI DEBT YLD: | 13.0% |
| WA ORIG TERM TO MATURITY: | 120 |
| WA ORIG AMORTIZING TERM: | 360 |
| TEN LARGEST LOANS: | 65.9% |
| LOAN SELLERS: | WFB(36.3%), BANA(32.7%), MS(31.0%) |
| TOP 5 STATES: | NY(31.5%), CA(26.1%), NV(14.9%), NJ(7.1%), TX(5.0%) |
| TOP 5 PROPERTY TYPES: | OF(51.3%), SS(19.6%), RT(10.0%), HOT(9.9%), MU(8.0%) |
| MASTER SERVICER: | Wells Fargo Bank, National Association |
| SPECIAL SERVICER: | CWCapital Asset Management LLC |
| TRUSTEE: | Wilmington Trust, National Association |
| CERT ADMIN: | Wells Fargo Bank, National Association |
| TRUST ADVISOR: | Park Bridge |
| INITIAL CNTRLG CLASS REP: | LD II Holdco XI LLC or its affiliate |
| ATTACHED: | TERM SHEET, ANNEX A-1 |
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site atwww.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you may e-mail a request todg.prospectus_request@bofa.com. The securities may not be suitable for all investors. BofA Securities, Inc. and its affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF ANY EMAIL COMMUNICATION TO WHICH THIS COMMUNICATION IS ATTACHED RELATING TO (1) THESE MATERIALS NOT CONSTITUTING AN OFFER (OR A SOLICITATION OF AN OFFER), (2) NO REPRESENTATION THAT THESE MATERIALS ARE ACCURATE OR COMPLETE AND MAY NOT BE UPDATED OR (3) THESE MATERIALS POSSIBLY BEING CONFIDENTIAL, ARE NOT APPLICABLE TO THIS OFFERING AND SHOULD BE DISREGARDED. SUCH LEGENDS, DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY GENERATED AS A RESULT OF THESE MATERIALS HAVING BEEN SENT VIA BLOOMBERG OR ANOTHER SYSTEM.
