Wells Fargo Commercial Mortgage Securities
Filed: 29 Jun 17, 12:00am
| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-206677-16 | ||
----- Original Message -----
From: WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITI)
At: 06/28/17 08:53:29
WFCM 2017-C38 - PUBLIC NEW ISSUE
**IO GUIDANCE** $1,001.296 MM FIXED-RATE CMBS OFFERING
| CO-LEAD MANAGERS | |
| & JOINT BOOKRUNNERS: | WELLS FARGO SECURITIES, LLC |
| BARCLAYS CAPITAL INC. | |
| UBS SECURITIES LLC | |
| CO-MANAGERS: | ACADEMY SECURITIES, INC. |
| DEUTSCHE BANK SECURITIES INC. |
OFFERED CERTIFICATES - PUBLIC
| CLASS | KBRA/FITCH/MDYS | SIZE($MM) | PROCEEDS($MM) | PRICE GUIDANCE |
| X-A | AAA(sf)/AAAsf/Aaa(sf) | 786.432 | ~63.82 | T+115A |
| X-B | AAA(sf)/A-sf/NR | 214.864 | ~10.84 | BWIC today at 2pm EST |
| Suggested T+105A | ||||
NON-OFFERED ELIGIBLE VERTICAL INTEREST
| CLASS | KBRA/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY |
| RR | NR/NR/NR | 31.176 | N/A | N/A | N/A | N/A |
| COLLATERAL SUMMARY | |
| INITIAL POOL BALANCE: | $1,154,649,987 |
| NUMBER OF LOANS: | 76 |
| NUMBER OF PROPERTIES: | 210 |
| WA CUT-OFF LTV: | 55.2% |
| WA BALLOON LTV: | 50.8% |
| WA U/W NCF DSCR: | 2.34x |
| WA U/W NOI DEBT YIELD: | 11.9% |
| WA MORTGAGE RATE: | 4.365% |
| TOP TEN LOANS %: | 45.6% |
| WA REM TERM TO MATURITY (MOS): | 115 |
| WA REM AMORTIZATION TERM (MOS): | 346 |
| WA SEASONING (MOS): | 1 |
| LOAN SELLERS: | BARCLAYS(34.7%), WFB(31.4%), RMF(10.7%), CIIICM(10.1%), UBSAG(7.9%), WFB/BARCLAYS(5.2%) |
| TOP 3 PROPERTY TYPES: | OFFICE(39.5%), RETAIL(25.4%), HOSPITALITY(17.1%) |
| TOP 5 STATES: | NY(25.8%), CA(16.8%), TX(11.6%), FL(5.3%), MI(4.6%) |
| MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
| SPECIAL SERVICER: | KEYBANK NATIONAL ASSOCIATION |
| DIRECTING CERTIFICATEHOLDER: | PRIME FINANCE CMBS B-PIECE HOLDCO VIII, L.P. |
| DOCUMENTS & TIMING | |
| TERM SHEET, ANNEX A-1: | ATTACHED |
| PROSPECTUS: | ATTACHED |
| ANTICIPATED SETTLEMENT: | JULY 13, 2017 |
| ROADSHOW | |
| NEW YORK 1x1's: | TODAY, 6/21 |
| DES MOINES,BREAKFAST: | THURS, 6/22 @ 7:30AM CT, MARRIOTT DOWNTOWN |
| HARTFORD, BREAKFAST: | THURS, 6/22 @ 8:30AM ET, MAX'S DOWNTOWN |
| BOSTON, LUNCH: | THURS, 6/22 @ 12:00PM ET, RITZ-CARLTON |
| MINNEAPOLIS, LUNCH: | THURS, 6/22 @ 12:45PM CT, KIMPTON GRAND HOTEL |
| CONFERENCE CALLS: | UPON DEMAND |
| PRE-RECORDED GLOBAL INVESTOR CALL: | WWW.NETROADSHOW.COM |
| REVIEW CODE: | TBD |
| FINAL LINK: | TBD |
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. 333-206677) 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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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 many 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.