FREE WRITING PROSPECTUS | ||
FILED PURSUANT TO RULE 433 | ||
REGISTRATION FILE NO.: 333-172366-14 | ||
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI)
Subject: Fwd:NEW ISSUE CMBS: WFCM 2014-LC16 PUBLIC *PRICING DETAILS*
WF COMMERCIAL MORTGAGE TRUST 2014-LC16 - PUBLIC NEW ISSUE
** $846.222 MM FIXED-RATE CMBS OFFERING
CO-LEAD MANAGERS & JT BOOKRUNNERS: WELLS FARGO SECURITIES AND RBS
CO-MANAGER: DEUTSCHE BANK SECURITIES
OFFERED CERTIFICATES - PUBLIC | |||||||
CLASS | DBRS/KBRA/MDY | $SIZE(MM) | WAL | SPREAD | Coupon | Yield | $PX |
A-1 | AAA(sf)/AAA(sf)/Aaa(sf) | 51.024 | 2.78 | +48 | 1.2940 | 1.2796 | 99.9980 |
A-2 | AAA(sf)/AAA(sf)/Aaa(sf) | 112.071 | 4.88 | +58 | 2.8190 | 2.1573 | 102.9958 |
A-3 | AAA(sf)/AAA(sf)/Aaa(sf) | 14.089 | 6.84 | 3.4320 | |||
A-4 | AAA(sf)/AAA(sf)/Aaa(sf) | 200.000 | 9.84 | 3.5480 | |||
A-5 | AAA(sf)/AAA(sf)/Aaa(sf) | 231.235 | 9.91 | +85 | 3.8170 | 3.4671 | 102.9953 |
A-SB | AAA(sf)/AAA(sf)/Aaa(sf) | 73.429 | 7.43 | +80 | 3.4770 | 3.0230 | 102.9984 |
A-S | AAA(sf)/AAA(sf)/Aaa(sf) | 53.574 | 9.93 | +105 | 4.0200 | 3.6689 | 102.9963 |
B | AA(low)(sf)/AA-(sf)/Aa3(sf) | 71.837 | 9.93 | +135 | 4.3220 | 3.9689 | 102.9962 |
C | A(low)(sf)/A-(sf)/A3(sf) | 38.963 | 10.00 | +185 | 4.4580 | 4.4784 | 99.9950 |
X-A | AAA(sf)/AAA(sf)/Aaa(sf) | 735.422 | +140 | 1.4957 | 3.6364 | 9.4107 | |
X-B | AAA(sf)/AAA(sf)/NR | 170.462 | +145 | 0.6672 | 3.9436 | 5.5955 | |
NON-OFFERED CERTIFICATES – PRIVATE (144A) | |||||||
CLASS | DBRS/KBRA/MDY | $SIZE(MM) | WAL | C/E | CUM LTV | NOI DY | |
D | BBB(low)(sf)/BBB-(sf)/NR | 59.662 | 10.01 | 7.000% | 57.6% | 12.2% |
COLLATERAL SUMMARY | |
CUT-OFF DATE BALANCE: | $974,069,228 |
NUMBER OF LOANS: | 82 |
NUMBER OF PROPERTIES: | 184 |
WA CUT-OFF LTV: | 63.9% |
WA BALLOON LTV: | 55.3% |
WA U/W DSCR: | 1.68x |
WA U/W NOI DEBT YIELD: | 11.4% |
WA MORTGAGE RATE: | 4.918% |
TOP TEN LOANS %: | 45.2% |
WA TERM TO MATURITY (MOS): | 112 |
WA AMORTIZATION TERM (MOS): | 350 |
WA SEASONING (MOS): | 1 |
LOAN SELLERS: | LCF (34.6%), WFB (31.4%), RBS (21.8%), |
RMF (12.2%) | |
TOP 5 PROPERTY TYPES: | RETAIL (42.6%), HOSPITALITY (14.2%), |
OFFICE (12.1%), SELF STORAGE (10.5%), | |
MULTIFAMILY (8.6%) | |
TOP 5 STATES: | TX(16.4%), CA(12.8%), NJ(12.3%), FL(8.1%), PA(7.4%) |
MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
SPECIAL SERVICER: | LNR PARTNERS, LLC |
SUBORDINATE CLASS REP: | LNR SECURITIES HOLDINGS LLC |
ANTICIPATED SETTLEMENT: | JUNE 11, 2014 |
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. 333-172366) 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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https://www.wellsfargo.com/com/disclaimer/wfid3. In Japan, see:
https://www.wellsfargo.com/com/disclaimer/wfsjb4.