| | | FREE WRITING PROSPECTUS |
| | | FILED PURSUANT TO RULE 433 |
| | | REGISTRATION FILE NO.: 333-177891-08 |
| | | |
-----Original Message-----
From: Rbs Abs Syndicate (RBS SECURITIES INC) [mailto:rbsgc.abs@bloomberg.net]
Sent: Monday, July 14, 2014 2:45 PM
Subject: NEW ISSUE CMBS: WFRBS 2014-C21 *PUBLIC ANNOUNCEMENT*
WFRBS COMMERCIAL MORTGAGE TRUST 2014-C21 - PUBLIC NEW ISSUE
**ANNOUNCEMENT** $1,242.225MM CMBS OFFERING
CO-LEAD MANAGERS & JT BOOKRUNNERS: RBS AND WELLS FARGO SECURITIES
CO-MANAGER: CITIGROUP
| OFFERED CERTIFICATES - PUBLIC |
| CLASS | DBRS/MDY/MSTR | $SIZE(MM) | WAL | C/E | CUM LTV | NOI DY |
| A-1 | AAA(sf)/Aaa(sf)/AAA | 66.230 | 2.67 | 30.000% | 34.6% | 17.2% |
| A-2 | AAA(sf)/Aaa(sf)/AAA | 109.149 | 4.87 | 30.000% | 34.6% | 17.2% |
| A-3 | AAA(sf)/Aaa(sf)/AAA | 48.253 | 6.83 | 30.000% | 34.6% | 17.2% |
| A-4 | AAA(sf)/Aaa(sf)/AAA | 330.000 | 9.80 | 30.000% | 34.6% | 17.2% |
| A-5 | AAA(sf)/Aaa(sf)/AAA | 345.689 | 9.91 | 30.000% | 34.6% | 17.2% |
| A-SB | AAA(sf)/Aaa(sf)/AAA | 98.736 | 7.23 | 30.000% | 34.6% | 17.2% |
| A-S | AAA(sf)/Aaa(sf)/AAA | 92.677 | 9.93 | 23.500% | 37.8% | 15.8% |
| B | AA(low)(sf)/Aa3(sf)/AA- | 98.023 | 9.93 | 16.625% | 41.2% | 14.5% |
| C | A(low)(sf)/A3(sf)/A- | 53.468 | 9.93 | 12.875% | 43.1% | 13.9% |
| X-A | AAA(sf)/Aaa(sf)/AAA | 1,090.734 | N/A | N/A | N/A | N/A |
| X-B | AAA(sf)/NR/AAA | 235.256 | N/A | N/A | N/A | N/A |
| NON-OFFERED CERTIFICATES - PRIVATE (144A) |
| CLASS | DBRS/MDY/MSTR | $SIZE(MM) | WAL | C/E | CUM LTV | NOI DY |
| D | BBB(low)(sf)/NR/BBB- | 83.765 | 9.93 | 7.000% | 46.0% | 13.0% |
| COLLATERAL SUMMARY | |
| | |
| CUT-OFF DATE BALANCE: | $1,425,796,349 |
| NUMBER OF LOANS: | 122 |
| NUMBER OF PROPERTIES: | 146 |
| WA CUT-OFF LTV: | 63.3% |
| WA BALLOON LTV: | 55.2% |
| WA U/W DSCR: | 1.98x |
| WA U/W NOI DEBT YIELD: | 12.1% |
| WA MORTGAGE RATE: | 4.608% |
| TOP TEN LOANS %: | 42.2% |
| WA TERM TO MATURITY (MOS): | 113 |
| WA AMORTIZATION TERM (MOS): | 351 |
| WA SEASONING (MOS): | 1 |
| | |
| LOAN SELLERS: | WFB (41.2%), RBS (26.9%), LIG I (13.3%), |
| | C-III (8.9%), BASIS (5.5%), NCB (4.2%) |
| TOP 5 PROPERTY TYPES: | OFFICE (27.9%), MULTIFAMILY (20.2%), |
| | HOSPITALITY (18.9%), RETAIL (16.7%), |
| | INDUSTRIAL (6.7%) |
| | |
| TOP 5 STATES: | MI(13.2%), NY(13.1%), CA(10.9%), PA(10.6%), VA(9.0%) |
| | |
| MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION AND NCB, FSB |
| SPECIAL SERVICER: | CWCAPITAL ASSET MANAGEMENT AND NCB, FSB |
| SUBORDINATE CLASS REP: | AN AFFILIATE OF SEER CAPITAL MANAGEMENT, LP |
| | |
| DOCUMENTS & TIMING | |
| TERM SHEET, ANNEX A: | ATTACHED |
| PRELIMINARY FWP: | MONDAY 7/14 |
| PRESALE REPORTS: | EARLY WEEK OF 7/14 |
| ANTICIPATED PRICING: | LATE WEEK OF 7/14 OR EARLY WEEK OF 7/21 |
| ANTICIPATED SETTLEMENT: | AUGUST 12, 2014 |
| | |
| ROADSHOW | |
| HARTFORD, BREAKFAST: | TUES, 7/15 @ 8:30AM EST, MAX DOWNTOWN |
| BOSTON, LUNCH: | TUES, 7/15 @ 12:00PM EST, THE LANGHAM |
| MINNEAPOLIS, BREAKFAST: | TUES, 7/15 @ 7:30AM CST, GRAND HOTEL MINNEAPOLIS |
| | |
| NEW YORK 1x1's: | WED, 7/16 |
| CONFERENCE CALLS: | UPON DEMAND |
| | |
| GLOBAL INVESTOR CALL | |
| PRE-RECORDED: | WWW.NETROADSHOW.COM |
| REVIEW CODE : | AVAILABLE TUESDAY A.M. |
The issuer has filed a registration statement (including a base prospectus) with the SEC for the offering to which this free writing prospectus relates. Before you invest in this offering, you should read the base 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 at www.sec.gov . Alternatively, RBS Securities Inc. will arrange to send you the base prospectus at no charge if you request it by calling 1-866-884-2071.
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