| | | FREE WRITING PROSPECTUS |
| | | FILED PURSUANT TO RULE 433 |
| | | REGISTRATION FILE NO.: 333-226486-21 |
| | | |
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 07/15/21 10:36:39
To: [REDACTED] (WELLS FARGO SECURITI )
Subject: NEW ISSUE CMBS: WFCM 2021-C60 *PUBLIC PRICE GUIDANCE*
WFCM 2021-C60 - PUBLIC NEW ISSUE
**PRICE GUIDANCE** $645.696 MM FIXED-RATE CMBS OFFERING
CO-LEAD MANAGERS
& JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC
CREDIT SUISSE SECURITIES (USA) LLC
UBS SECURITIES LLC
CO-MANAGERS: ACADEMY SECURITIES, INC.
DREXEL HAMILTON, LLC
SIEBERT WILLIAMS SHANK & CO., LLC
| CLASS | DBRSM/FITCH/MOODY'S | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY | PX GUID |
| A-1 | AAA(sf)/AAA(sf)/Aaa(sf) | 17.659 | 30.000% | 2.62 | 41.4% | 14.2% | IS+25A |
| A-2 | AAA(sf)/AAA(sf)/Aaa(sf) | 45.569 | 30.000% | 4.92 | 41.4% | 14.2% | IS+55A |
| A-SB | AAA(sf)/AAA(sf)/Aaa(sf) | 24.458 | 30.000% | 7.23 | 41.4% | 14.2% | IS+58A |
| A-3* | AAA(sf)/AAA(sf)/Aaa(sf) | 175.000 | 30.000% | 9.32 | 41.4% | 14.2% | A4-2BPS |
| A-4* | AAA(sf)/AAA(sf)/Aaa(sf) | 261.357 | 30.000% | 9.88 | 41.4% | 14.2% | IS+70A |
| X-A | AAA(sf)/AAA(sf)/Aaa(sf) | 524.043 | N/A | N/A | N/A | N/A | |
| X-B | AA(sf)/A-(sf)/NR | 121.653 | N/A | N/A | N/A | N/A | |
| A-S | AAA(sf)/AAA(sf)/Aa1(sf) | 58.019 | 22.250% | 9.96 | 45.9% | 12.8% | IS+90A |
| B | AAA(sf)/AA-(sf)/NR | 34.624 | 17.625% | 9.96 | 48.7% | 12.1% | IS+110A |
| C | AA(low)(sf)/A-(sf)/NR | 29.010 | 13.750% | 9.96 | 51.0% | 11.5% | IS+150A |
| NON-OFFERED |
| X-D | AA(low)(sf)/BBB+(sf)/NR | 11.192 | N/A N/A | N/A | N/A | | |
| D | A(high)(sf)/BBB+(sf)/NR | 11.192 | 12.255% | 9.96 | 51.9% | 11.3% | |
*Sizes and WAL’s are subject to change as detailed in the attached Term Sheet.
| COLLATERAL SUMMARY | |
| | |
| INITIAL POOL BALANCE: | $748,633,043 |
| NUMBER OF LOANS: | 61 |
| NUMBER OF PROPERTIES: | 107 |
| WA CUT-OFF LTV: | 59.1% |
| WA BALLOON LTV: | 55.3% |
| WA U/W NCF DSCR: | 2.32x |
| WA U/W NOI DEBT YIELD: | 10.0% |
| WA MORTGAGE RATE: | 3.766% |
| TOP TEN LOANS %: | 46.5% |
| WA REM TERM TO MATURITY (MOS): | 114 |
| WA REM AMORTIZATION TERM (MOS): | 356 |
| WA SEASONING (MOS): | 2 |
| | |
| LOAN SELLERS: | LMF(30.2%), WFB(24.2%), COLUMN(13.7%), |
| | UBS AG(11.9%), BSPRT(10.1%), LCF(9.8%) |
| | |
| TOP 3 PROPERTY TYPES: | RETAIL(28.5%), MULTIFAMILY(23.0%), |
| | INDUSTRIAL(15.5%) |
| | |
| TOP 5 STATES: | NY(20.8%), CA(18.1%), AZ(9.2%), |
| | PA(9.2%), IL(5.5%) |
| | |
| MASTER SERVICER: | WELLS FARGO BANK, NATIONAL ASSOCIATION |
| | |
| SPECIAL SERVICER: | MIDLAND LOAN SERVICES, A DIVISION OF PNC |
| | BANK, NATIONAL ASSOCIATION |
| | |
| DIRECTING CERTIFICATEHOLDER: | KKR REAL ESTATE CREDIT OPPORTUNITY PARTNERS II L.P. |
| | |
| DOCUMENTS & TIMING | |
| TERM SHEET, ANNEX A-1: | ATTACHED |
| PRELIM PROSPECTUS: | TODAY |
| PRESALE REPORTS: | AVAILABLE |
| ANTICIPATED PRICING: | LATE THE WEEK OF JULY 12, 2021 |
| ANTICIPATED SETTLEMENT: | JULY 29, 2021 |
| | |
| THIRD PARTY PASSWORDS | |
| BBG: | |
| Dealname: | WFCM 2021-C60 |
| Password: | 2021C60 |
| | |
| Intex: | |
| Dealname: | WFC21C60 |
| Password: | 8ehrioctlqt652g5z |
| | |
| Trepp: | |
| Dealname: | WFCM 2021-C60 |
| Password: | 2021C60 |
| | |
| CONFERENCE CALLS: | UPON DEMAND |
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. 333-226486) 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.
