Wells Fargo Commercial Mortgage Securities
Filed: 19 Sep 17, 12:00am
| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-206677-18 | ||
----- Original Message -----
From: WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITI)
At: 09/19/17 12:17:02
BANK 2017-BNK7 - PUBLIC NEW ISSUE
**LAUNCH** $1,040.694 MM FIXED-RATE CMBS OFFERING
| CO-LEAD MANAGERS | |
& JOINT BOOKRUNNERS: | WELLS FARGO SECURITIES, LLC |
| BOFA MERRILL LYNCH | |
| MORGAN STANLEY & CO. LLC | |
| CO-MANAGER: | ACADEMY SECURITIES, INC. |
| OFFERED CERTIFICATES - PUBLIC | ||||||
| CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | LAUNCH | |
| A-1 | AAA(sf)/AAAsf/Aaa(sf) | 32.602 | 30.000% | 2.64 | IS+24 | |
| A-2 | AAA(sf)/AAAsf/Aaa(sf) | 35.234 | 30.000% | 4.71 | IS+48 | |
| A-3 | AAA(sf)/AAAsf/Aaa(sf) | 44.439 | 30.000% | 7.13 | IS+88 | |
| A-SB | AAA(sf)/AAAsf/Aaa(sf) | 50.058 | 30.000% | 7.17 | IS+74 | |
| A-4 | AAA(sf)/AAAsf/Aaa(sf) | 310.000 | 30.000% | 9.76 | IS+87 | |
| A-5 | AAA(sf)/AAAsf/Aaa(sf) | 334.853 | 30.000% | 9.89 | IS+89 | |
| A-S | AAA(sf)/AAAsf/Aa2(sf) | 144.141 | 17.500% | 9.96 | IS+120 | |
| B | AA(sf)/AA-sf/NR | 50.449 | 13.125% | 9.96 | IS+140 | |
| C | A(sf)/A-sf/NR | 38.918 | 9.750% | 9.96 | IS+175 | |
| NON-OFFERED CERTIFICATES - PRIVATE (144A) | ||||||
| CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY |
| X-D | BBB(sf)/BBB-sf/NR | 43.242 | N/A | N/A | N/A | N/A |
| D | BBB(low)(sf)/BBB-sf/NR | 43.242 | 6.000% | 9.96 | 48.9% | 14.6% |
| NON-OFFERED ELIGIBLE VERTICAL INTEREST | ||||||
| CLASS | DBRS/FITCH/MDYS | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY |
| RR | NR/NR/NR | 60.690 | N/A | 9.29 | N/A | N/A |
COLLATERAL SUMMARY
| INITIAL POOL BALANCE: | $1,213,814,926 |
| NUMBER OF LOANS: | 65 |
| NUMBER OF PROPERTIES: | 83 |
| WA CUT-OFF LTV: | 52.1% |
| WA BALLOON LTV: | 47.5% |
| WA U/W NCF DSCR: | 2.93x |
| WA U/W NOI DEBT YIELD: | 13.8% |
| WA MORTGAGE RATE: | 4.081% |
| TOP TEN LOANS %: | 57.9% |
| WA REM TERM TO MATURITY (MOS): | 116 |
| WA REM AMORTIZATION TERM (MOS): | 361 |
| WA SEASONING (MOS): | 1 |
| LOAN SELLERS: | WFB(34.7%), MSMCH(32.9%), BANA(26.9%), NCB(5.4%) |
| TOP 3 PROPERTY TYPES: | OFFICE(22.5%), MULTIFAMILY(22.2%), RETAIL(22.0%) |
| TOP 5 STATES: | CA(25.4%), NY(17.9%), IL(7.1%), KS(5.8%), WA(5.6%) |
| MASTER SERVICERS: | WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A. |
| SPECIAL SERVICERS: | RIALTO CAPITAL ADVISORS, LLC AND NATIONAL COOPERATIVE BANK, N.A. |
| DIRECTING CERTIFICATEHOLDER: | RIALTO CAPITAL ADVISORS, LLC |
| DOCUMENTS & TIMING | |
| TERM SHEET, ANNEX A-1: | ATTACHED |
| ANTICIPATED PRICING: | THIS AFTERNOON |
| ANTICIPATED SETTLEMENT: | SEPTEMBER 28, 2017 |
| ROADSHOW | |
| HARTFORD, BREAKFAST: | WED, 9/13 @ 8:30AM ET, GOODWIN HOTEL |
| BOSTON, LUNCH: | WED, 9/13 @ 12:00PM ET, THE LANGHAM |
| DES MOINES,BREAKFAST: | THURS, 9/14 @ 7:30AM CT, MARRIOTT DOWNTOWN |
| MINNEAPOLIS, LUNCH: | THURS, 9/14 @ 1:00PM CT, THE GRAND HOTEL |
| CONFERENCE CALLS: | UPON DEMAND |
| PRE-RECORDED GLOBAL INVESTOR CALL: | WWW.NETROADSHOW.COM |
| REVIEW CODE: | WFCM-BNK7 |
| FINAL LINK: | www.netroadshow.com/nrs/wp/default.html?show=5fCE8E |
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.