| | | FREE WRITING PROSPECTUS |
| | | FILED PURSUANT TO RULE 433 |
| | | REGISTRATION FILE NO.: 333-226486-21 |
| | | |
From: Wells Abf Syndicate Wells Fargo (WELLS FARGO SECURITI) At: 07/16/21 13:54:32
To: [REDACTED] (WELLS FARGO SECURITI )
Subject: NEW ISSUE CMBS: WFCM 2021-C60 *PUBLIC PRICING DETAILS*
WFCM 2021-C60 - PUBLIC NEW ISSUE
**PRICING DETAILS** $645.696 MM FIXED-RATE CMBS OFFERING
| CO-LEAD MANAGERS | |
| & JOINT BOOKRUNNERS: | WELLS FARGO SECURITIES, LLC |
| | CREDIT SUISSE SECURITIES (USA) LLC |
| | UBS SECURITIES LLC |
| | |
| CO-MANAGERS: | ACADEMY SECURITIES, INC. |
| | DREXEL HAMILTON, LLC |
| | SIEBERT WILLIAMS SHANK & CO., LLC |
| CLASS | DBRSM/FITCH/MOODY'S | SIZE($MM) | C/E | WAL | CUM LTV | NOI DY | SPRD | CPN% | YLD% | $PX |
| A-1 | AAA(sf)/AAA(sf)/Aaa(sf) | 17.659 | 30.000% | 2.62 | 41.4% | 14.2% | IS+28 | 0.7330 | 0.7235 | 99.9988 |
| A-2 | AAA(sf)/AAA(sf)/Aaa(sf) | 45.569 | 30.000% | 4.92 | 41.4% | 14.2% | IS+55 | 2.0420 | 1.3990 | 102.9978 |
| A-SB | AAA(sf)/AAA(sf)/Aaa(sf) | 24.458 | 30.000% | 7.23 | 41.4% | 14.2% | IS+58 | 2.1300 | 1.6827 | 102.9947 |
| A-3 | AAA(sf)/AAA(sf)/Aaa(sf) | 121.000 | 30.000% | 9.14 | 41.4% | 14.2% | IS+70 | 2.0610 | 1.9400 | 100.9979 |
| A-4 | AAA(sf)/AAA(sf)/Aaa(sf) | 315.357 | 30.000% | 9.85 | 41.4% | 14.2% | IS+72 | 2.3420 | 2.0046 | 102.9990 |
| 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+92 | 2.5470 | 2.2113 | 102.9913 |
| B | AAA(sf)/AA-(sf)/NR | 34.624 | 17.625% | 9.96 | 48.7% | 12.1% | IS+110 | 2.7300 | 2.3913 | 102.9995 |
| C | AA(low)(sf)/A-(sf)/NR | 29.010 | 13.750% | 9.96 | 51.0% | 11.5% | IS+145 | 2.7380 | 2.7413 | 99.9998 |
| 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% | | | | |
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: | PRICED |
| 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.
