ANNEX B
NEW ISSUE
TERM SHEET
ANY INVESTMENT DECISION WTH RESPECT TO THE SECURITIES SHOULD BE MADE BY YOU
BASED UPON THE INFORMATION CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND
PROSPECTUS RELATING TO THE SECURITIES. THE INFORMATION HEREIN WILL BE
SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION CONTAINED IN THE FINAL
PROSPECTUS SUPPLEMENT AND PROSPECTUS.
THE INFORMATION CONTAINED HEREIN SUPERSEDES THE INFORMATION IN ALL PRIOR TERM
SHEETS, IF ANY.
-----------------------------------------------
$984,980,000
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES
SERIES 2001-1
-----------------------------------------------
GE CAPITAL COMMERCIAL MORTGAGE CORPORATION--DEPOSITOR
GE CAPITAL LOAN SERVICES, INC.--MASTER SERVICER
MIDLAND LOAN SERVICES, INC.--SPECIAL SERVICER
GENERAL ELECTRIC CAPITAL CORPORATION--MORTGAGE LOAN SELLER
MORGAN GUARANTY TRUST COMPANY OF NEW YORK--MORTGAGE LOAN SELLER
BEAR, STEARNS FUNDING, INC. --MORTGAGE LOAN SELLER
-----------------------------------------------
FOR FURTHER
INFORMATION CONTACT:
JPMORGAN
Brian Baker Glenn Riis Andy Taylor
(212) 648-1413 (212) 834-3813 (212) 834-3813
JPMORGAN BEAR, STEARNS & CO. INC.
Book Running Manager
DEUTSCHE BANC ALEX. BROWN SALOMON SMITH BARNEY INC.
The analyses in this report are based upon information provided by General
Electric Capital Corporation, Morgan Guaranty Trust Company of New York and
Bear, Stearns Funding, Inc. (the "Sellers"). JPMorgan, a division of Chase
Securities Inc. ("Chase Securities"), Bear, Stearns & Co. Inc., Deutsche Banc
Alex. Brown, and Salomon Smith Barney Inc. (the "Underwriters") make no
representations as to the accuracy or completeness of the information contained
herein. The information contained herein is qualified in its entirety by the
information in the Prospectus and Prospectus Supplement for the securities
referred to herein (the "Securities"). The information contained herein is
preliminary as of the date hereof, supersedes any previous information delivered
to you by the Underwriters and will be superseded by the applicable final
Prospectus and Prospectus Supplement and any other information subsequently
filed with the Securities and Exchange Commission. These materials are subject
to change, completion, or amendment from time to time without notice, and the
Underwriters are under no obligation to keep you advised of such changes. These
materials are not intended as an offer or solicitation with respect to the
purchase or sale of any Security. Any investment decision with respect to the
Securities should be made by you based upon the information contained in the
final Prospectus Supplement and Prospectus relating to the Securities. You
should consult your own counsel, accountant, and other advisors as to the legal,
tax, business, financial and related aspects of a purchase of the Securities.
The attached information contains certain tables and other statistical analyses
(the "Computational Materials") which have been prepared in reliance upon
information furnished by the Sellers. They may not be provided to any third
party other than the addressee's legal, tax, financial and/or accounting
advisors for the purposes of evaluating said material. Numerous assumptions were
used in preparing the Computational Materials which may or may not be reflected
therein. As such, no assurance can be given as to the Computational Materials'
accuracy, appropriateness or completeness in any particular context; nor as to
whether the Computational Materials and/or the assumptions upon which they are
based reflect present market conditions or future market performance. These
Computational Materials should not be construed as either projections or
predictions or as legal, tax, financial or accounting advice. Any weighted
average lives, yields and principal payment periods shown in the Computational
Materials are based on prepayment assumptions, and changes in such prepayment
assumptions may dramatically affect such weighted average lives, yields and
principal payment periods. In addition, it is possible that prepayments on the
underlying assets will occur at rates slower or faster than the rates shown in
the attached Computational Materials. Furthermore, unless otherwise provided,
the Computational Materials assume no losses on the underlying assets and no
interest shortfalls. The specific characteristics of the Securities may differ
from those shown in the Computational Materials due to differences between the
actual underlying assets and the hypothetical underlying assets used in
preparing the Computational Materials. The principal amount and designation of
any Security described in the Computational Materials are subject to change
prior to issuance. Neither the Underwriters nor any of their affiliates make any
representation or warranty as to the actual rate or timing of payments on any of
the underlying assets or the payments or yield on the securities. THIS
INFORMATION IS FURNISHED TO YOU SOLELY BY THE UNDERWRITERS AND NOT BY THE ISSUER
OF THE SECURITIES OR ANY OF ITS AFFILIATES. THE UNDERWRITERS ARE NOT ACTING AS
AGENT FOR THE ISSUER OR ITS AFFILIATES IN CONNECTION WITH THE PROPOSED
TRANSACTION.
April 2001
- --------------------------------------------------------------------------------
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST
BE ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER,
PLEASE CONTACT YOUR SALES REPRESENTATIVE.
SUMMARY OF CERTIFICATES
- ---------- --------------- -------------- ---------------- ------------ ----------- ------------ ------------ ------------
INITIAL CLASS PASS- ASSUMED INITIAL WEIGHTED PRINCIPAL
CERTIFICATE THROUGH FINAL PASS-THROUGH AVERAGE EXPECTED OR
BALANCE OR APPROXIMATE RATE DISTRIBUTION RATE LIFE RATINGS NOTIONAL
CLASS NOTIONAL CREDIT DESCRIPTION DATE (5) (APPROX.) (YEARS) (6) (MOODY'S PRINCIPAL
AMOUNT (1) SUPPORT /FITCH) WINDOW (6)
- ---------- --------------- -------------- ---------------- ------------ ----------- ------------ ------------ ------------
A-1 $171,865,000 22.500% Fixed 10/10 6.0790% 5.67 Aaa/AAA 6/01-10/10
A-2 $703,045,000 22.500% Fixed 3/11 6.5310% 9.74 Aaa/AAA 10/10-3/11
B $45,157,000 18.500% Fixed 3/11 6.7190% 9.87 Aa2/AA 3/11-3/11
C $49,390,000 14.125% Fixed (3) 4/11 6.9710% 9.95 A2/A 3/11-4/11
D $15,523,000 12.750% Fixed (3) 4/11 7.1080% 9.95 A3/A- 4/11-4/11
X-1 $1,128,916,742 N/A Variable I/O (2) N/A 0.8115% N/A Aaa/AAA N/A
X-2 $662,592,000 N/A Variable I/O (2) N/A 0.9536% N/A Aaa/AAA N/A
E $15,522,000 11.375% Fixed (3) N/A 6.6570% N/A Baa1/BBB+ N/A
F $15,523,000 10.000% Fixed (3) N/A 6.7230% N/A Baa2/BBB N/A
G $14,112,000 8.750% Fixed (3) N/A 7.0350% N/A Baa3/BBB- N/A
H $25,400,000 6.500% Fixed (3) N/A 6.2070% N/A Ba1/BB+ N/A
I $18,345,000 4.875% Fixed (3) N/A 6.2070% N/A Ba2/BB N/A
J $9,878,000 4.000% Fixed (3) N/A 6.2070% N/A Ba3/BB- N/A
K $9,878,000 3.125% Fixed (3) N/A 6.2070% N/A B1/NA N/A
L $14,112,000 1.875% Fixed (3) N/A 6.2070% N/A B2/NA N/A
M $4,233,000 1.500% Fixed (3) N/A 6.2070% N/A B3/NA N/A
N $16,933,742 0.000% Fixed (3) N/A 6.2070% N/A NA/NA N/A
- ---------- --------------- -------------- ---------------- ------------ ----------- ------------ ------------ ------------
(1) Approximate, subject to a permitted variance of plus or minus 10%.
(2) The aggregate of the pass-through rates on the Class X-1 and Class X-2
certificates (the "Class X Certificates") will be equal to the excess, if
any, of (1) the weighted average of the net interest rates on the mortgage
loans determined without regard to any reductions in the interest rate
resulting from modification of the mortgage loans (in each case converted,
if necessary, to a rate expressed on the basis of a 360-day year
consisting of twelve 30-day months), over (2) the weighted average of the
pass-through rates of the other certificates (other than the residual
certificates and the Class S certificates) as described in the prospectus
supplement.
(3) For any distribution date, if the weighted average of the net interest
rates on the mortgage loans determined without regard to any reductions in
the interest rate resulting from modification of the mortgage loans (in
each case converted to a rate expressed on the basis of a 360-day year
consisting of twelve 30-day months) as of the first day of the related due
period is less than the rate specified for the Class C, Class D, Class E,
Class F, Class G, Class H, Class I, Class J, Class K, Class L, Class M and
Class N certificates with respect to the distribution date, then the
pass-through rate for that class of certificates on that distribution date
will equal the weighted average net mortgage interest rate.
(4) The assumed final distribution dates set forth have been determined on the
basis of the assumptions described in "Description of the
Certificates--Assumed Final Distribution Date; Rated Final Distribution
Date" in the prospectus supplement. The rated final distribution date for
each class of certificates is May 15, 2033. See "Description of the
Certificates--Assumed Final Distribution Date; Rated Final Distribution
Date" in the prospectus supplement.
(5) The weighted average life and period during which distributions of
principal would be received (or applied in the case of the notional amount
of Class X certificates) set forth in the foregoing table with respect to
each class of certificates is based on the assumptions set forth under
"Yield and Maturity Considerations--Weighted Average Life" in the
prospectus supplement and on the assumptions that there are no prepayments
(other than on each anticipated prepayment date, if any) or losses on the
mortgage loans and that there are no extensions of maturity dates of
mortgage loans. The weighted average life has been rounded to the second
decimal place.
The Class X-1, Class X-2, Class E, Class F, Class G, Class H, Class I, Class J,
Class K, Class L, Class M and Class N certificates are not offered by the
prospectus supplement. The Class S, Class R and Class LR certificates are not
offered by the prospectus supplement or represented in this table.
- --------------------------------------------------------------------------------
COLLATERAL OVERVIEW:
- -----------------------------
Aggregate Principal Balance: $1,128,916,743
Number of Mortgage Loans: 151
Number of Mortgaged Properties: 165
Average Principal Balance: $7,476,270
Weighted Average Current Mortgage Rate: 7.65%
Weighted Average Underwritten DSCR: 1.41x
Weighted Average Cut-off Date LTV: 70%
Weighted Average Original Term to Maturity (months): 121
Weighted Average Remaining Term to Maturity (months): 118
Weighted Average Original Amortization Term (months): 346
Balloon Loans as a % of Total: 86.15%
APD Loans as a % of Total: 12.41%
Fully Amortizing Loans as a % of Total: 1.43%
Ten Largest Loans as a % of Total: 28.46%
AGGREGATE LOAN
TEN LARGEST LOAN SUMMARY CUT-OFF DATE % OF IPB PER CUT-OFF DSCR PROPERTY
BALANCE SF/UNIT LTV TYPE
- ------------------------------ -------------- --------- ----------- ---------- -------- -----------
59 Maiden Lane (Aaa/AA) $49,959,015 4.43% $48.18 24.98% 2.75x Office
Long Wharf Maritime Center I 37,448,914 3.32 $90.09 68.09 1.31x Office
Synergy Business Park I and
II Loans 35,264,956 3.12 $61.44 70.69 1.23x Office
818 West Seventh Street 33,755,090 2.99 $89.44 62.51 1.61x Office
Ell Portfolio II (Baa1/BBB-) 32,891,735 2.91 $38,291 56.42 2.11x Hotel
Shoppes at Dadeland 28,978,305 2.57 $275.51 80.50 1.23X Retail
Pescadero Apartments 28,963,183 2.57 $170,372 64.36 1.39X Multifamily
Information Resources 25,882,222 2.29 $102.71 61.62 1.50x Office
Civic Executive Center 25,115,568 2.22 $150.29 69.77 1.25x Office
510 Fifth Avenue 22,981,698 2.04 $375.77 78.44 1.33x Office
TOTAL/WEIGHTED AVERAGE $321,240,685 28.46% 61.02% 1.65X
- ------------------------------ -------------- --------- ----------- ---------- -------- -----------
STATE NUMBER OF MORTGAGED AGGREGATE CUT-OFF DATE % OF INITIAL POOL
PROPERTIES BALANCE BALANCE
- --------------------- --------------------- ---------------------- -----------------------------
California 27 $228,434,423 20.23%
Florida 16 105,401,300 9.34
New York 5 85,477,735 7.57
Texas 19 84,000,399 7.44
Georgia 9 71,096,388 6.30
Other States 89 554,506,498 49.12
TOTAL 165 $1,128,916,743 100.00%
- --------------------- --------------------- ---------------------- -----------------------------
Lead Manager: JPMorgan (book and co-lead); Bear, Stearns & Co. Inc.
(co-lead)
Master Servicer: GE Capital Loan Services, Inc.
Special Servicer: Midland Loan Services, Inc.
Trustee: LaSalle Bank National Association
Mortgage Loan Sellers: General Electric Capital Corporation (59.14%)
Morgan Guaranty Trust Company of New York (29.90%)
Bear, Stearns Funding, Inc. (10.96%)
Closing: On or about May 2, 2001
Cut-off Date: May 11, 2001
Distribution Date: 15th day of each month or following business day
ERISA Eligible: All offered certificates are expected to be ERISA eligible
SMMEA Eligible: No classes are eligible
Structure: Sequential Pay
Day Count: 30/360, payable monthly
Tax Treatment: REMIC
Rated Final Distribution Date: May 15, 2033
Minimum Denominations: $10,000 initial principal amount for the publicly offered
certificates. Each certificate will be offered in multiples
of $1 in excess of the minimum denomination.
Delivery: DTC, Clearstream Banking, Euroclear
NUMBER OF AGGREGATE CUT-OFF
PREPAYMENT PROVISIONS MORTGAGE DATE % OF INITIAL
LOANS BALANCE POOL BALANCE
- ---------------------------------------- -------------- ------------------- ---------------
Lockout period followed by defeasance 149 $1,120,184,132 99.23%
Lockout period followed by yield 1 6,082,610 0.54
maintenance
Lockout period followed by penalty 1 2,650,000 0.23
charge
TOTAL 151 $1,128,916,743 100.00%
- ---------------------------------------- -------------- ------------------- ---------------
NUMBER OF AGGREGATE CUT-OFF
PROPERTY TYPE (1) MORTGAGED DATE % OF INITIAL POOL
PROPERTIES BALANCE BALANCE
- --------------------------- -------------------- ----------------------- ---------------------
Office 45 $468,452,021 41.50%
Retail 50 303,231,403 26.86
Multifamily 22 158,336,661 14.03
Hotel 11 68,991,747 6.11
Self-Storage 16 55,261,300 4.90
Manufactured Housing 12 39,172,524 3.47
Industrial 8 30,485,707 2.70
Parking Garage 1 4,985,379 0.44
TOTAL 165 $1,128,916,743 100.00%
- --------------------------- -------------------- ----------------------- ---------------------
JPMORGAN BEAR, STEARNS & CO. INC.
Book Running Manager
Page 2 of 16
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
COLLATERAL STATISTICS
RANGE OF DSCR NUMBER OF MORTGAGE AGGREGATE CUT-OFF % OF INITIAL POOL
LOANS/PROPERTIES DATE BALANCE BALANCE
- ------------------------------------------------------- ------------------------ -----------------------
1.143x to 1.209x 7/7 $60,195,285 5.33%
1.210x to 1.239x 24/24 139,651,831 12.37
1.240x to 1.259x 23/23 161,487,377 14.30
1.260x to 1.299x 23/28 161,749,423 14.33
1.300x to 1.359x 36/39 257,602,152 22.82
1.360x to 1.489x 26/26 148,663,760 13.17
1.490x to 2.750x 12/18 199,566,915 17.68
TOTAL 151/165 $1,128,916,743 100.00%
---------------------------------- ------------------- --------------------- --------------------
RANGE OF LTV RATIOS NUMBER OF MORTGAGE AGGREGATE CUT-OFF % OF INITIAL POOL
LOANS/PROPERTIES DATE BALANCE BALANCE
- -------------------------------------------------------------------------------------------------------
24.980% - 59.999% 10/16 $117,707,697 10.43%
60.000% - 64.999% 13/13 145,777,210 12.91
65.000% - 68.999% 14/14 122,138,261 9.93
69.000% - 72.999% 26/34 223,681,794 19.81
73.000% - 76.999% 36/36 177,998,224 15.77
77.000% - 79.999% 45/45 283,677,799 25.13
80.000% - 81.699% 7/7 67,935,756 6.02
TOTAL 151/165 $1,128,916,743 100.00%
- -------------------------------------------------------- ------------------ ----------------------
RANGE OF PRINCIPAL NUMBER OF MORTGAGE AGGREGATE CUT-OFF % OF INITIAL POOL
CUT-OFF DATE BALANCES LOANS/PROPERTIES DATE BALANCE BALANCE
- ------------------------------------ --------------------------- ----------------------- -----------------------
$925,000 - 2,000,000 16/16 $25,093,607 2.22%
2,000,001 - 4,000,000 46/46 135,675,283 12.02
4,000,001 - 7,000,000 41/41 220,228,945 19.51
7,000,001 - 12,000,000 24/29 224,679,908 19.90
12,000,001 - 20,000,000 14/17 215,169,677 19.06
20,000,001 - 30,000,000 6/6 154,014,570 13.64
30,000,001 - 50,000,000 4/10 154,054,754 13.65
TOTAL 151/165 $1,128,916,743 100.00%
- ------------------------------------ --------------------------- -------------------- --------------------
YEAR OF SCHEDULED MATURITY NUMBER OF MORTGAGE AGGREGATE CUT-OFF % OF INITIAL POOL
ANTICIPATED REPAYMENT DATE LOANS/PROPERTIES DATE BALANCE BALANCE
- ------------------------------------ --------------------------- ----------------------- -----------------------
2005 1/1 $6,878,359 0.61%
2006 2/2 15,860,517 1.40
2010 22/31 203,432,041 18.02
2011 123/128 880,479,136 77.99
2016 1/1 6,082,610 0.54
2020 1/1 2,479,440 0.22
2021 1/1 13,704,640 1.21
TOTAL 151/165 $1,128,916,743 100.00%
- ------------------------------------ --------------------------- ----------------------- -----------------------
RANGE OF MORTGAGE RATES NUMBER OF MORTGAGE AGGREGATE CUT-OFF % OF INITIAL POOL
LOANS/PROPERTIES DATE BALANCE BALANCE
- ------------------------------------ --------------------------- ----------------------- -----------------------------
7.000% to 7.299% 7/7 $165,895,393 14.70%
7.300% to 7.499% 24/24 186,337,119 16.51
7.500% to 7.699% 48/48 326,640,470 28.93
7.700% to 7.999% 40/45 234,644,353 20.78
8.000% to 8.299% 23/32 153,114,680 13.56
8.300% to 8.599% 6/6 35,092,167 3.11
8.600% to 8.850% 3/3 27,192,562 2.41
TOTAL 151/165 $1,128,916,743 100.00%
- ------------------------------------ --------------------------- ----------------------- -----------------------------
AMORTIZATION TYPES NUMBER OF MORTGAGE LOANS AGGREGATE CUT-OFF % OF INITIAL POOL
DATE BALANCE BALANCE
- ------------------------------------ --------------------------- ----------------------- -----------------------------
Balloon Loans 134 $972,581,014 86.15%
APD Loans 15 140,151,649 12.41
Fully Amortizing Loans 2 16,184,080 1.43
TOTAL 151 $1,128,916,743 100.00%
- ------------------------------------ --------------------------- ----------------------- -----------------------------
BASIS FOR ACCRUAL OF INTEREST NUMBER OF AGGREGATE CUT-OFF % OF INITIAL POOL
MORTGAGE LOANS DATE BALANCE BALANCE
- ------------------------------------ --------------------------- ----------------------- -----------------------------
Actual/360 150 $1,115,212,103 98.79%
30/360 1 13,704,640 1.21
TOTAL 151 $1,128,916,743 100.00%
- ------------------------------------ --------------------------- ----------------------- -----------------------------
Page 3 of 16
- --------------------------------------------------------------------------------
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
ISSUE TYPE: Sequential pay multi-class commercial
mortgage REMIC
OFFERED SECURITIES: Classes A-1, A-2, B, C, and D
COLLATERAL: Approximately $1,128,916,743 pool of 151
fixed-rate commercial, multifamily and
manufactured housing community mortgage
loans
LOAN SELLERS: General Electric Capital Corporation,
Morgan Guaranty Trust Company of New York
and Bear, Stearns Funding, Inc.
DEPOSITOR: GE Capital Commercial Mortgage Corporation
UNDERWRITERS: Lead Managers- JPMorgan (Book Runner);
Bear, Stearns & Co. Inc. Co-Managers-
Deutsche Ban Alex. Brown; Salomon Smith
Barney Inc.
MASTER SERVICER: GE Capital Loan Services, Inc.
PRIMARY SERVICER: GE Capital Loan Services, Inc.
SPECIAL SERVICER: Midland Loan Services, Inc.
TRUSTEE: LaSalle Bank National Association
PAYING AGENT: The Chase Manhattan Bank
RATING AGENCIES: Moody's and Fitch
CUT-OFF DATE: May 11, 2001
CLOSING DATE: On or about May 2, 2001
DISTRIBUTION DATE: The 15th day of the month or, if that day
is not a business day, the next business
day, beginning in June 2001.
DETERMINATION DATE: The earlier of (i) the 11th day of the
month in which the related distribution
date occurs, or if such 11th day is not a
business day then the immediately preceding
business day and (ii) the 4th business day
prior to the related distribution date.
DENOMINATIONS: The offered certificates will be offered in
minimum denominations of $10,000 initial
principal amount.
ERISA CONSIDERATIONS: All offered certificates are expected to be
ERISA eligible
SMMEA ELIGIBILITY: No certificates are eligible.
CERTIFICATE REGISTRATION: Certificate owners may hold their
certificates through DTC (in the United
States) or Clearstream Banking, societe
anonyme or The Euroclear System (in Europe)
if they are participants of that system, or
indirectly through organizations that are
participants in those systems.
Page 4 of 16
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THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
STRUCTRAL CHARACTERISTICS
INTEREST ACCRUAL PERIOD: Interest will accrue on the offered
certificates during the calendar month
prior to the related distribution date and
will be calculated assuming that each month
has 30 days and each year has 360 days.
PASS-THROUGH RATES: Certificates will accrue interest at an
annual rate called a pass-through rate
which is set forth below for each class:
Class A-1 6.0790%
Class A-2 6.5310%
Class B 6.7190%
Class C 6.9710% (1)
Class D 7.1080% (1)
(1) For any distribution date, if the
weighted average of the net interest
rates on the mortgage loans determined
without regard to any reductions in
the interest rate resulting from
modification of the mortgage loans (in
each case converted to a rate
expressed on the basis of a 360-day
year consisting of twelve 30-day
months and net of all servicing and
trustee fees) as of the first day of
the related due period is less than
the rate specified for the Class C or
Class D certificates with respect to
the distribution date, then the
pass-through rate for that class of
certificates on that distribution date
will equal such weighted average net
mortgage interest rate.
PRINCIPAL DISTRIBUTIONS: On each distribution date, funds available
for distribution from the mortgage loans,
net of specified trust expenses, will be
distributed to the class of certificates
outstanding, with the earliest
alphabetical/numerical Class designation,
until its certificate balance is reduced to
zero. If the principal amount of each class
of certificates other than Class A-1 and
Class A-2 has been reduced to zero, funds
available for principal will be distributed
to Class A-1 and Class A-2, pro rata,
rather than sequentially.
Page 5 of 16
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THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
STRUCTURAL CHARACTERISTICS (continued)
INTEREST DISTRIBUTIONS: Each class of offered certificates will be
entitled on each distribution date to
interest accrued at its pass-through rate
on the outstanding certificate balance of
such class during the prior calendar month
(on a 30/360 day basis).
PREPAYMENT Each mortgage loan prohibits any
PROVISIONS: prepayments or defeasance for a specified
period of time after its date of
origination (a "Lockout Period"). In
addition, the mortgage loans generally have
open prepayment periods for the final 2 to
7 scheduled payments (including the
scheduled payment on the stated Maturity
Date or Anticipated Prepayment Date). Each
mortgage loan restricts voluntary
prepayments in one of the following ways:
(1) 149 of the mortgage loans,
representing approximately 99.23% of
the Initial Pool Balance, permit only
defeasance after the expiration of the
Lockout Period; and
(2) 1 of the mortgage loans, representing
approximately 0.54% of the Initial
Pool Balance, requires that any
principal prepayment made during a
specified period of time after the
Lockout Period, be accompanied by a
yield maintenance charge.
(3) 1 of the mortgage loans, representing
approximately 0.23% of the Initial
Pool Balance, requires that any
principal prepayment made during a
specified period of time after the
Lockout Period, be accompanied by a
prepayment premium that declines from
5% to 1% during the fixed penalty
period.
YIELD MAINTENANCE On any Distribution Date, yield maintenance
CHARGES: charges collected during the related Due
Period will be required to be distributed
by the Paying Agent and allocated between
the Offered Certificates, the Class E
Certificates, the Class F Certificates and
the Class X-1 Certificates. The penalty
charges will be allocated to the Class X-1
Certificates.
REPRESENTATIONS General Electric Capital Corporation,
AND WARRANTIES: Morgan Guaranty Trust Company of New York,
and Bear, Stearns Funding, Inc. will make
certain representations and warranties with
respect to each mortgage loan sold by
General Electric Capital Corporation,
Morgan Guaranty Trust Company of New York,
and Bear, Stearns Funding, Inc.,
respectively.
Page 6 of 16
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THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
59 MAIDEN LANE
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $50,000,000 $49,959,015
% OF POOL BY IPB: 4.43%
SHADOW RATING: Moody's: Aaa / Fitch: AA
ORIGINATOR: MGT
LOAN DATE: 3/7/01
INTEREST RATE: 7.000%
REMAINING AMORTIZATION: 359 months
MATURITY DATE: 4/1/11
SPONSOR: George Karfunkel, Michael Karfunkel
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: Soft at Closing, Springing Hard
RESERVES: Re-leasing reserve of $125,000 per month
in years eight and nine
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
SQUARE FEET: 1,037,002
LOCATION: New York, NY
YEAR BUILT/YEAR RENOVATED: 1966 / 2000
COLLATERAL: 44-story office building located in the
heart of Manhattan's Downtown Financial
District.
MAJOR TENANTS (% OF TOTAL SF): NYC Dept. of Citywide Admin. (24.50%)
Bluestone Capital Partners (10.17%)
Medsite.com (8.11%)
CURRENT OCCUPANCY: 83.85%
UWNCF: $10,977,191
APPRAISED VALUE: $200,000,000
APPRAISAL DATE: 1/1/01
CUT-OFF DATE LOAN/SF: $48.18
CUT-OFF DATE LTV: 24.98%
BALLOON LTV: 21.80%
UWNCF DSCR: 2.75x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 7 of 16
- --------------------------------------------------------------------------------
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
LONG WHARF MARITIME CENTER I
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $37,500,000 $37,448,914
% OF POOL BY IPB: 3.32%
ORIGINATOR: MGT
LOAN DATE: 2/28/01
INTEREST RATE: 7.250%
REMAINING AMORTIZATION: 358 months
MATURITY DATE: 3/10/11
SPONSOR: Edmund J. Fusco, Sr.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: Soft
RESERVES: Monthly Repl. Reserve: $2,837 Monthly TI/LC
Reserve: $35,417 during years 1-5. Following year
5 an additional $45,835 per month until 2008, up
to a maximum of $3,000,000.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
SQUARE FEET: 415,685
LOCATION: New Haven, CT
YEAR BUILT: 1985
COLLATERAL: 15-story, multi-tenant office building constructed
in 1985 and an adjacent parking garage. The
building contains 415,685 square feet of net
rentable area.
MAJOR TENANTS
(% OF TOTAL SF): Southern New England Telephone (57.99%)
Curagen Corporation (8.65%)
Chubb (6.24%)
CURRENT OCCUPANCY: 99.34%
UWNCF: $4,030,078
APPRAISED VALUE: $55,000,000
APPRAISAL DATE: 1/15/01
CUT-OFF DATE LOAN/SF: $90.09
CUT-OFF DATE LTV: 68.09%
BALLOON LTV: 59.86%
UWNCF DSCR: 1.31x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
- --------------------------------------------------------------------------------
Page 8 of 16
SYNERGY BUSINESS PARK- COLUMBIA I AND II LOANS
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE:
Synergy - Columbia I $17,925,000 $17,856,620
Synergy - Columbia II $17,475,000 $17,408,336
------------------------------------------
TOTAL: $35,400,000 $35,264,956
% OF POOL BY IPB: 3.12%
ORIGINATOR: GECC
LOAN DATE: 10/31/00
INTEREST RATE: 8.060%
REMAINING AMORTIZATION: 354 months
MATURITY DATE: 11/1/10
SPONSOR: Jordan E. Slone, Herbert K. Bangel. Jordan Slone is
the Chairman and CEO of Harbor Group International,
which controls approximately 2,000,000 square feet
of office space, 2,300,000 square feet of retail
space and 6,900 apartment units.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: Yes
LOCK BOX: No
RESERVES: Synergy Business Park - Columbia I Loan:
Upfront TI/LC Reserve: $527,000
Property Improvement Reserve: $270,000
Monthly Repl. Reserve: $4,155
Monthly TI/LC Reserve: $23,040
Synergy Business Park - Columbia II Loan:
Upfront TI/LC Reserve: $773,000
Property Improvement Reserve: $677,500
Monthly Repl. Reserve: $4,955
Monthly TI/LC Reserve: $24,480
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Portfolio
PROPERTY TYPE: Office
SQUARE FEET (AGGREGATE): 525,136
LOCATION: Columbia, SC
YEAR BUILT/YEAR RENOVATED: 1982 / 1998
COLLATERAL: Two loans secured by, respectively, 3 and 5
multi-tenanted office buildings comprising the
Synergy Business Park, formerly known as the
Koger Center. Located in the St. Andrews
suburb, 3 miles from downtown Columbia, SC.
MAJOR TENANTS
(% OF TOTAL SF): SC Dept. Of Labor (13.63%)
Physicians Health Pl (6.48%)
SC Public Serv. Comm (6.04%)
CURRENT OCCUPANCY: 91.98%
UWNCF (AGGREGATE): $3,860,243 (total)
APPRAISED VALUE (AGGREGATE): $49,900,000 (total)
APPRAISAL DATE: 9/6/00
CUT-OFF DATE LOAN/SF: $67.23
(aggregate)
CUT-OFF DATE LTV: 70.69%
(aggregate)
BALLOON LTV: 63.52%
(aggregate)
UWNCF DSCR: 1.23x
(aggregate)
CROSS-COLLATERALIZATION: Partial releases within each loan are not
permitted, however the borrower is permitted to
obtain the release of all the properties securing
each respective loan, provided the outstanding
principal balance of such loan is defeased.
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 9 of 16
818 WEST SEVENTH STREET
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $33,800,000 $33,755,090
% OF POOL BY IPB: 2.99%
ORIGINATOR: GECC
LOAN DATE: 2/1/01
INTEREST RATE: 7.350%
REMAINING AMORTIZATION: 358 months
MATURITY DATE: 3/1/11
SPONSOR: Goodwin Gaw. Goodwin Gaw is president of Pioneer
Capital Investments, Inc. Pioneer has a Portfolio
consisting of approximately 2.5 million square feet
of office buildings in Los Angeles, San Francisco,
New York and Hawaii.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: No
RESERVES: Upfront TI/LC Reserve: $775,327
Upfront Tenant Security LOC: $1,045,237
Monthly Repl. Reserve: $6,250
Monthly TI/LC Reserve: $41,015
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
SQUARE FEET: 377,405
LOCATION: Los Angeles, CA
YEAR BUILT/YEAR RENOVATED: 1926 / 1985
COLLATERAL: 12 story office building located in downtown Los
Angeles. Listed as a Los Angeles historical
monument.
MAJOR TENANTS
(% OF TOTAL SF): Level 3 Communications, Inc. (19.88%)
Pihana Pacific, Inc. (17.53%)
Southern California Association of
Governments (13.38%)
CURRENT OCCUPANCY: 100.00%
UWNCF: $4,497,188
APPRAISED VALUE: $54,000,000
APPRAISAL DATE: 7/18/00
CUT-OFF DATE LOAN/SF: $89.44
CUT-OFF DATE LTV: 62.51%
BALLOON LTV: 55.09%
UWNCF DSCR: 1.61x
- --------------------------------------------------------------------------------
Page 10 of 16
[Graph Omitted]
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
ELL PORTFOLIO II
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $33,053,100 $32,891,735
% OF POOL BY IPB: 2.91%
SHADOW RATING: Moody's: Baa1 / Fitch: BBB-
ORIGINATOR: GECC
LOAN DATE: 11/7/00
INTEREST RATE: 8.250%
REMAINING AMORTIZATION: 295 months (115 months to APD)
APD: 12/1/10
SPONSOR: Equity Inns, Inc., a NYSE traded self- administered
REIT. As of 12/00 Equity Inns, Inc. had a portfolio
of 96 hotels comprising 12,284 rooms, located in 34
states.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: Yes. Partial releases permitted providing borrower
defeases 125% of allocated loan amount, subject to
rating agency confirmation and satisfaction of
LTV/DSCR tests.
LOCK BOX: Soft at Closing, Springing Hard at 1.45x DSCR
RESERVES: Quarterly FF& E Reserve: 4% of total revenues
on spend or accrue basis.
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Portfolio
PROPERTY TYPE: Hotel
UNITS (AGGREGATE): 859
LOCATION: State College, PA; Madison Heights, MI; Dublin, OH;
Charleston, SC; Windsor Locks, CT; Rutland, VT;
Birmingham, AL
YEAR BUILT/YEAR RENOVATED: Various / Various
COLLATERAL: Six limited service hotels operating under the
Hampton Inns (5) and Comfort Inns (1) flags, and 1
extended stay hotel operating under the Homewood
Suites flag. Hampton Inns, Homewood Suites and
Comfort Inns are all flags of Hilton Hotels
Corporation.
CURRENT OCCUPANCY: 68.49%
UNDERWRITTEN ADR: $80.91
UNDERWRITTEN REVPAR: $54.03
UWNCF: $6,604,247
APPRAISED VALUE: $58,300,000
APPRAISAL DATE: Various
CUT-OFF DATE LOAN/ROOM: $38,291
CUT-OFF DATE LTV: 56.42%
BALLOON LTV: 47.05%
UWNCF DSCR: 2.11x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 11 of 16
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
PESCADERO APARTMENTS
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $29,000,000 $28,963,183
% OF POOL BY IPB: 2.57%
ORIGINATOR: GECC
LOAN DATE: 2/15/01
INTEREST RATE: 7.530%
REMAINING AMORTIZATION: 358 months (118 months to APD)
APD: 3/11/11
SPONSOR: Michael H. Podell Trust, Catherine H. Podell
Trust
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: Soft at Closing, Springing Hard
RESERVES: Monthly Repl. Reserve: $2,479
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Multifamily
UNITS: 170
LOCATION: Redwood City, CA
YEAR BUILT: 1999
COLLATERAL: A fourteen building 170 unit class A
apartment complex located in Redwood City,
San Mateo County, CA. The complex includes
an indoor swimming pool and a health club.
CURRENT OCCUPANCY: 91.18%
UWNCF: $3,397,070
APPRAISED VALUE: $45,000,000
APPRAISAL DATE: 9/22/00
CUT-OFF DATE LOAN/UNIT: $170,372
CUT-OFF DATE LTV: 64.36%
BALLOON LTV: 56.98%
UWNCF DSCR: 1.39x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 12 of 16
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
SHOPPES AT DADELAND
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $29,000,000 $28,978,305
% OF POOL BY IPB: 2.57%
ORIGINATOR: GECC
LOAN DATE: 3/16/01
INTEREST RATE: 7.460%
REMAINING AMORTIZATION: 359 months
MATURITY DATE: 4/1/11
SPONSOR: Stephen Hayman, Alan Hayman, Neal
Higgins Walters. The Hayman Company
manages approximately 9,000 apartment units
and approximately 3,000,000 square feet of
commercial space.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: No
RESERVES: Monthly Repl. Reserve: $1,305
Monthly TI/LC Reserve: $6,667
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Anchored Retail
SQUARE FEET: 105,181
LOCATION: Miami, FL
YEAR BUILT: 1999
COLLATERAL: Two story shopping center located
directly across the street from the
Dadeland Mall in Miami, FL. The
Dadeland Mall is a 1,400,000 square
feet regional shopping center anchored
by Burdines, Lord & Taylor, Saks Fifth
Avenue, and Home Gallery.
MAJOR TENANTS (% OF TOTAL SF): Linens & Things (42.45%)
Container Store (24.26%)
Old Navy (17.59%)
CURRENT OCCUPANCY: 100.00%
UWNCF: $2,983,500
APPRAISED VALUE: $36,000,000
APPRAISAL DATE: 1/12/01
CUT-OFF DATE LOAN/SF: $275.51
CUT-OFF DATE LTV: 80.50%
BALLOON LTV: 71.09%
UWNCF DSCR: 1.23x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 13 of 16
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
INFORMATION RESOURCES
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $26,000,000 $25,882,222
% OF POOL BY IPB: 2.29%
ORIGINATOR: MGT
LOAN DATE: 12/29/00
INTEREST RATE: 7.600%
REMAINING AMORTIZATION: 296 months
MATURITY DATE: 1/10/11
SPONSOR: W.P. Carey & Co., LLC
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: No
RESERVES: Upfront TI/LC Reserve: $500,000
Monthly Repl. Reserve: $5,267
Monthly TI/LC Reserve: $20,834
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
SQUARE FEET: 252,000
LOCATION: Chicago, IL
YEAR BUILT/YEAR RENOVATED: 1908 / 1990
COLLATERAL: The Information Resources Inc.
Corporate Headquarters is comprised of
252,000 net rentable square feet in two
buildings in Chicago's West Loop
District.
TENANT: The property is 100% leased
to Information Resources Inc.
CURRENT OCCUPANCY: 100.00%
UWNCF: $3,479,019
APPRAISED VALUE: $42,000,000
APPRAISAL DATE: 12/1/00
CUT-OFF DATE LOAN/SF: $102.71
CUT-OFF DATE LTV: 61.62%
BALLOON LTV: 50.41%
UWNCF DSCR: 1.50x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 14 of 16
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
CIVIC EXECUTIVE CENTER
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $25,150,000 $25,115,568
% OF POOL BY IPB: 2.22%
ORIGINATOR: GECC
LOAN DATE: 2/1/01
INTEREST RATE: 7.230%
REMAINING AMORTIZATION: 358 months
MATURITY DATE: 3/1/11
SPONSOR: Sunset Ridge Development, DNS Trust, Wagner Family
Trust. Sanford Diller, trustee of DNS Trust, has
developed over 8,000 apartment units and
approximately 2,700,000 square feet of office and
retail space.
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: No
RESERVES: Annual Repl. Reserve: $58,088
Monthly TI/LC Reserve: $9,027 (capped at
$541,632)
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
SQUARE FEET: 167,117
LOCATION: Walnut Creek, CA
YEAR BUILT: 1983
COLLATERAL: Three story, multi-tenanted office building
located in Walnut Creek, CA, 20 miles east of
downtown San Franciso.
MAJOR TENANTS (% OF TOTAL SF): Brown and Caldwell (33.61%)
Bank of the West (12.67%)
Laidlaw Transit (8.91%)
CURRENT OCCUPANCY: 97.99%
UWNCF: $2,558,547
APPRAISED VALUE: $36,000,000
APPRAISAL DATE: 12/7/00
CUT-OFF DATE LOAN/SF: $150.29
CUT-OFF DATE LTV: 69.77%
BALLOON LTV: 61.30%
UWNCF DSCR: 1.25x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 15 of 16
THE INFORMATION HEREIN WILL BE SUPERSEDED IN ITS ENTIRETY BY THE INFORMATION
CONTAINED IN THE FINAL PROSPECTUS SUPPLEMENT AND PROSPECTUS. THIS PAGE MUST BE
ACCOMPANIED BY A DISCLAIMER. IF YOU DID NOT RECEIVE SUCH A DISCLAIMER, PLEASE
CONTACT YOUR SALES REPRESENTATIVE.
510 FIFTH AVENUE
- --------------------------------------------------------------------------------
LOAN INFORMATION
- --------------------------------------------------------------------------------
ORIGINAL CUT-OFF DATE
PRINCIPAL BALANCE: $23,000,000 $22,981,698
% OF POOL BY IPB: 2.04%
ORIGINATOR: MGT
LOAN DATE: 3/14/01
INTEREST RATE: 7.150%
REMAINING AMORTIZATION: 359 months
MATURITY DATE: 4/1/11
SPONSOR: Rodney M. Propp, Joseph Tahl
CALL PROTECTION: Lockout followed by defeasance
CROSS-COLLATERALIZATION: No
LOCK BOX: Soft at Closing, Springing Hard
RESERVES: Monthly Repl. Reserve: $1,729
Monthly TI/LC Reserve: $8,333
- --------------------------------------------------------------------------------
- --------------------------------------------------------------------------------
PROPERTY INFORMATION
- --------------------------------------------------------------------------------
SINGLE ASSET/ PORTFOLIO: Single Asset
PROPERTY TYPE: Office
SQUARE FEET: 61,159
LOCATION: New York, NY
YEAR BUILT: 1954
COLLATERAL: 5-story, 100% leased, landmark office
property containing 61,159 square feet
of gross leasable area.
MAJOR TENANTS (% OF TOTAL SF): Tahari (37.24%)
Ricoh Corp (32.91%)
Chase Manhattan (29.85%)
CURRENT OCCUPANCY: 100.00%
UWNCF: $2,476,360
APPRAISED VALUE: $29,300,000
APPRAISAL DATE: 1/1/01
CUT-OFF DATE LOAN/SF: $375.77
CUT-OFF DATE LTV: 78.44%
BALLOON LTV: 68.73%
UWNCF DSCR: 1.33x
- --------------------------------------------------------------------------------
[GRAPH OMITTED]
Page 16 of 16
16:56:53
04/20/01
CHASE SECURITIES, INC.
Deal: laun0419
Price/Yield Table: Tranche 1, Class A1 <22.5>
- -------------- ----------- -------- ---------- ---------- ------ --------
Pricing Speed: Run Settles Rules from Collateral Term Coupon
- -------------- ----------- -------- ---------- ---------- ------ --------
0.000 CPR at Issuance 05/07/01 Script 0.0 7.6536
- -------------- ------------ ------------ -------------- ---------------
Class A1 Original Par Type Coupon Price
- -------------- ------------ ------------ -------------- ---------------
Tranche 1 $174,223,000 SEQ 6.0110 (FIXED) 100.2492
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Prepayment Rate 0 CPR 25 CPR 50 CPR 75 CPR 100 CPR 0 CPR 0 CPR 100 CPR
Default Rate 0 CPR 0 CPR 0 CPR 0 CPR 0 CPR 1 CPR 2 CPR 1 CPR
Price in 1000/10000ths Steps +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
99.0492 6.245 6.246 6.247 6.247 6.248 6.281 6.314 6.283
99.1492 6.223 6.224 6.224 6.224 6.225 6.254 6.282 6.256
99.2492 6.201 6.202 6.202 6.202 6.203 6.227 6.251 6.228
99.3492 6.179 6.179 6.180 6.180 6.180 6.200 6.219 6.201
99.4492 6.157 6.157 6.157 6.157 6.158 6.172 6.187 6.173
99.5492 6.135 6.135 6.135 6.135 6.135 6.145 6.155 6.146
99.6492 6.113 6.113 6.113 6.113 6.113 6.118 6.124 6.119
99.7492 6.091 6.091 6.091 6.091 6.091 6.091 6.092 6.092
99.8492 6.069 6.069 6.069 6.068 6.068 6.065 6.061 6.064
99.9492 6.047 6.047 6.046 6.046 6.046 6.038 6.029 6.037
100.0492 6.025 6.024 6.024 6.024 6.024 6.011 5.998 6.010
100.1492 6.003 6.003 6.002 6.002 6.002 5.984 5.966 5.983
100.2492(P) 5.981 5.981 5.980 5.980 5.979 5.957 5.935 5.956
100.3492 5.959 5.959 5.958 5.958 5.957 5.931 5.904 5.929
100.4492 5.937 5.937 5.936 5.936 5.935 5.904 5.873 5.902
100.5492 5.916 5.915 5.914 5.914 5.913 5.877 5.841 5.875
100.6492 5.894 5.893 5.892 5.892 5.891 5.851 5.810 5.848
100.7492 5.872 5.871 5.871 5.870 5.869 5.824 5.779 5.821
100.8492 5.851 5.849 5.849 5.848 5.847 5.798 5.748 5.795
100.9492 5.829 5.828 5.827 5.826 5.825 5.771 5.717 5.768
101.0492 5.807 5.806 5.805 5.805 5.803 5.745 5.686 5.741
101.1492 5.786 5.784 5.784 5.783 5.781 5.718 5.655 5.714
101.2492 5.764 5.763 5.762 5.761 5.759 5.692 5.624 5.688
101.3492 5.743 5.741 5.740 5.739 5.738 5.666 5.593 5.661
101.4492 5.721 5.720 5.718 5.718 5.716 5.639 5.563 5.634
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Average Life: 5.700 5.667 5.646 5.631 5.594 4.464 3.708 4.407
Mod Duration: 4.563 4.543 4.529 4.520 4.495 3.727 3.182 3.688
Exp. 1st Pay: 06/15/01 06/15/01 06/15/01 06/15/01 06/15/01 06/15/01 06/15/01 06/15/01
Exp. Maturity: 10/15/10 10/15/10 09/15/10 08/15/10 07/15/10 05/15/09 10/15/07 04/15/09
AL TSY Spread: 1.25 1.25 1.25 1.25 1.26 1.37 1.46 1.37
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
- --------------------------------------------------------------------------------
Treasury Curve
- --------------------------------------------------------------------------------
TSY Yield TSY Yield
--- ----- --- -----
1 YR 4.010
2 YR 4.222
5 YR 4.670 10 YR 5.120
Information herein has been obtained from sources believed to be reliable, but
CSI does not warrant its completeness or accuracy. Prices, opinions, and
estimates reflect CSI's judgment on the date hereof and are subject to change
without notice. This document is not an offer or solicitation for the purchase
or sale of any securities or financial instruments. Securities or financial
instruments mentioned herein may not be suitable for all investors. CSI or an
affiliate may have positions or act as a market maker in securities or financial
instruments mentioned herein (or options with respect thereto) and may also act
as advisor or lender to an issuer herein. Additional information is available
upon request. CSI is a separately incorporated subsidiary of Chase Manhattan
Corporation. copyright Chase Manhattan Corporation. Member NASD/SIPC. SFW
Software Copyright (c) 1989-2000 by WallStreet Analytics, Inc. Tel:
650-845-6260. Neither WSA nor CSI represents that the above information is
accurate or complete.
Page 1 of 1
16:57:13
04/20/01
CHASE SECURITIES, INC.
Deal: laun0419
Price/Yield Table: Tranche 2, Class A2 <22.5>
- -------------- ----------- -------- ---------- ---------- ------ --------
Pricing Speed: Run Settles Rules from Collateral Term Coupon
- -------------- ----------- -------- ---------- ---------- ------ --------
0.000 CPR at Issuance 05/07/01 Script 0.0 7.6536
- -------------- ------------ ------------ -------------- ---------------
Class A2 Original Par Type Coupon Price
- -------------- ------------ ------------ -------------- ---------------
Tranche 2 $703,045,000 SEQ 6.4570 (FIXED) 100.4989
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Prepayment Rate 0 CPR 25 CPR 50 CPR 75 CPR 100 CPR 0 CPR 0 CPR 100 CPR
Default Rate 0 CPR 0 CPR 0 CPR 0 CPR 0 CPR 1 CPR 2 CPR 1 CPR
Price in 1000/10000ths Steps +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
99.2989 6.609 6.609 6.609 6.609 6.610 6.609 6.610 6.610
99.3989 6.595 6.595 6.595 6.595 6.595 6.595 6.595 6.596
99.4989 6.580 6.580 6.580 6.580 6.581 6.580 6.581 6.581
99.5989 6.566 6.566 6.566 6.566 6.566 6.566 6.566 6.566
99.6989 6.552 6.552 6.552 6.552 6.552 6.552 6.552 6.552
99.7989 6.537 6.537 6.537 6.537 6.537 6.537 6.537 6.537
99.8989 6.523 6.523 6.523 6.523 6.523 6.523 6.523 6.523
99.9989 6.509 6.509 6.509 6.509 6.508 6.509 6.508 6.508
100.0989 6.495 6.495 6.495 6.495 6.494 6.495 6.494 6.494
100.1989 6.481 6.481 6.480 6.480 6.480 6.480 6.479 6.479
100.2989 6.466 6.466 6.466 6.466 6.465 6.466 6.465 6.465
100.3989 6.452 6.452 6.452 6.452 6.451 6.452 6.451 6.450
100.4989(P) 6.438 6.438 6.438 6.438 6.436 6.438 6.436 6.436
100.5989 6.424 6.424 6.424 6.424 6.422 6.424 6.422 6.422
100.6989 6.410 6.410 6.410 6.409 6.408 6.409 6.408 6.407
100.7989 6.396 6.396 6.396 6.395 6.393 6.395 6.393 6.393
100.8989 6.382 6.382 6.382 6.381 6.379 6.381 6.379 6.379
100.9989 6.368 6.368 6.367 6.367 6.365 6.367 6.365 6.364
101.0989 6.354 6.354 6.353 6.353 6.351 6.353 6.350 6.350
101.1989 6.340 6.340 6.339 6.339 6.336 6.339 6.336 6.336
101.2989 6.326 6.326 6.325 6.325 6.322 6.325 6.322 6.321
101.3989 6.312 6.312 6.311 6.311 6.308 6.311 6.308 6.307
101.4989 6.298 6.298 6.297 6.297 6.294 6.297 6.294 6.293
101.5989 6.284 6.284 6.283 6.283 6.280 6.283 6.279 6.279
101.6989 6.270 6.270 6.269 6.269 6.266 6.269 6.265 6.264
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Average Life: 9.724 9.713 9.698 9.676 9.510 9.668 9.510 9.460
Mod Duration: 7.040 7.034 7.027 7.015 6.928 7.010 6.921 6.901
Exp. 1st Pay: 10/15/10 10/15/10 09/15/10 08/15/10 07/15/10 05/15/09 10/15/07 04/15/09
Exp. Maturity: 03/15/11 03/15/11 03/15/11 03/15/11 01/15/11 03/15/11 03/15/11 01/15/11
AL TSY Spread: 1.34 1.34 1.35 1.35 1.36 1.35 1.36 1.36
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
- --------------------------------------------------------------------------------
Treasury Curve
- --------------------------------------------------------------------------------
TSY Yield TSY Yield
--- ----- --- -----
1 YR 4.010
2 YR 4.222
5 YR 4.670 10 YR 5.120
Information herein has been obtained from sources believed to be reliable, but
CSI does not warrant its completeness or accuracy. Prices, opinions, and
estimates reflect CSI's judgment on the date hereof and are subject to change
without notice. This document is not an offer or solicitation for the purchase
or sale of any securities or financial instruments. Securities or financial
instruments mentioned herein may not be suitable for all investors. CSI or an
affiliate may have positions or act as a market maker in securities or financial
instruments mentioned herein (or options with respect thereto) and may also act
as advisor or lender to an issuer herein. Additional information is available
upon request. CSI is a separately incorporated subsidiary of Chase Manhattan
Corporation. copyright Chase Manhattan Corporation. Member NASD/SIPC. SFW
Software Copyright (c) 1989-2000 by WallStreet Analytics, Inc. Tel:
650-845-6260. Neither WSA nor CSI represents that the above information is
accurate or complete.
Page 1 of 1
16:57:33
04/20/01
CHASE SECURITIES, INC.
Deal: laun0419
Price/Yield Table: Tranche 5, Class B <18.5>
- -------------- ----------- -------- ---------- ---------- ------ --------
Pricing Speed: Run Settles Rules from Collateral Term Coupon
- -------------- ----------- -------- ---------- ---------- ------ --------
0.000 CPR at Issuance 05/07/01 Script 0.0 7.6536
- -------------- ------------ ------------ -------------- ---------------
Class B Original Par Type Coupon Price
- -------------- ------------ ------------ -------------- ---------------
Tranche 5 $45,278,000 SEQ 6.6520 (FIXED) 100.4932
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Prepayment Rate 0 CPR 25 CPR 50 CPR 75 CPR 100 CPR 0 CPR 0 CPR 100 CPR
Default Rate 0 CPR 0 CPR 0 CPR 0 CPR 0 CPR 1 CPR 2 CPR 1 CPR
Price in 1000/10000ths Steps +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
99.2932 6.809 6.809 6.809 6.809 6.810 6.809 6.809 6.810
99.3932 6.795 6.795 6.795 6.795 6.795 6.795 6.795 6.795
99.4932 6.780 6.780 6.780 6.780 6.781 6.780 6.780 6.781
99.5932 6.766 6.766 6.766 6.766 6.766 6.766 6.766 6.766
99.6932 6.752 6.752 6.752 6.752 6.752 6.752 6.752 6.752
99.7932 6.738 6.738 6.738 6.738 6.737 6.738 6.738 6.737
99.8932 6.723 6.723 6.723 6.723 6.723 6.723 6.723 6.723
99.9932 6.709 6.709 6.709 6.709 6.709 6.709 6.709 6.709
100.0932 6.695 6.695 6.695 6.695 6.694 6.695 6.695 6.694
100.1932 6.681 6.681 6.681 6.681 6.680 6.681 6.681 6.680
100.2932 6.667 6.667 6.667 6.667 6.666 6.667 6.667 6.666
100.3932 6.652 6.652 6.652 6.652 6.651 6.653 6.653 6.651
100.4932(P) 6.638 6.638 6.638 6.638 6.637 6.638 6.639 6.637
100.5932 6.624 6.624 6.624 6.624 6.623 6.624 6.625 6.623
100.6932 6.610 6.610 6.610 6.610 6.608 6.610 6.610 6.608
100.7932 6.596 6.596 6.596 6.596 6.594 6.596 6.596 6.594
100.8932 6.582 6.582 6.582 6.582 6.580 6.582 6.582 6.580
100.9932 6.568 6.568 6.568 6.568 6.566 6.568 6.568 6.566
101.0932 6.554 6.554 6.554 6.554 6.552 6.554 6.554 6.552
101.1932 6.540 6.540 6.540 6.540 6.537 6.540 6.540 6.537
101.2932 6.526 6.526 6.526 6.526 6.523 6.526 6.527 6.523
101.3932 6.512 6.512 6.512 6.512 6.509 6.512 6.513 6.509
101.4932 6.498 6.498 6.498 6.498 6.495 6.498 6.499 6.495
101.5932 6.484 6.484 6.484 6.484 6.481 6.485 6.485 6.481
101.6932 6.470 6.470 6.470 6.470 6.467 6.471 6.471 6.467
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Average Life: 9.859 9.856 9.856 9.856 9.689 9.876 9.891 9.689
Mod Duration: 7.045 7.043 7.043 7.043 6.958 7.053 7.061 6.958
Exp. 1st Pay: 03/15/11 03/15/11 03/15/11 03/15/11 01/15/11 03/15/11 03/15/11 01/15/11
Exp. Maturity: 04/15/11 03/15/11 03/15/11 03/15/11 01/15/11 04/15/11 04/15/11 01/15/11
AL TSY Spread: 1.53 1.53 1.53 1.53 1.55 1.53 1.53 1.55
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
- --------------------------------------------------------------------------------
Treasury Curve
- --------------------------------------------------------------------------------
TSY Yield TSY Yield
--- ----- --- -----
1 YR 4.010
2 YR 4.222
5 YR 4.670 10 YR 5.120
Information herein has been obtained from sources believed to be reliable, but
CSI does not warrant its completeness or accuracy. Prices, opinions, and
estimates reflect CSI's judgment on the date hereof and are subject to change
without notice. This document is not an offer or solicitation for the purchase
or sale of any securities or financial instruments. Securities or financial
instruments mentioned herein may not be suitable for all investors. CSI or an
affiliate may have positions or act as a market maker in securities or financial
instruments mentioned herein (or options with respect thereto) and may also act
as advisor or lender to an issuer herein. Additional information is available
upon request. CSI is a separately incorporated subsidiary of Chase Manhattan
Corporation. copyright Chase Manhattan Corporation. Member NASD/SIPC. SFW
Software Copyright (c) 1989-2000 by WallStreet Analytics, Inc. Tel:
650-845-6260. Neither WSA nor CSI represents that the above information is
accurate or complete.
Page 1 of 1
16:57:50
04/20/01
CHASE SECURITIES, INC.
Deal: laun0419
Price/Yield Table: Tranche 6, Class C <14.125>
- -------------- ----------- -------- ---------- ---------- ------ --------
Pricing Speed: Run Settles Rules from Collateral Term Coupon
- -------------- ----------- -------- ---------- ---------- ------ --------
0.000 CPR at Issuance 05/07/01 Script 0.0 7.6536
- -------------- ------------ ------------ -------------- ---------------
Class C Original Par Type Coupon Price
- -------------- ------------ ------------ -------------- ---------------
Tranche 6 $49,523,000 SEQ 6.8940 (FIXED) 100.4916
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Prepayment Rate 0 CPR 25 CPR 50 CPR 75 CPR 100 CPR 0 CPR 0 CPR 100 CPR
Default Rate 0 CPR 0 CPR 0 CPR 0 CPR 0 CPR 1 CPR 2 CPR 1 CPR
Price in 1000/10000ths Steps +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
99.2916 7.057 7.057 7.057 7.058 7.058 7.057 7.057 7.058
99.3916 7.043 7.043 7.043 7.043 7.044 7.043 7.043 7.044
99.4916 7.028 7.028 7.028 7.029 7.029 7.028 7.028 7.029
99.5916 7.014 7.014 7.014 7.014 7.014 7.014 7.014 7.014
99.6916 7.000 7.000 7.000 7.000 7.000 7.000 7.000 7.000
99.7916 6.985 6.985 6.985 6.985 6.985 6.985 6.985 6.985
99.8916 6.971 6.971 6.971 6.971 6.971 6.971 6.971 6.971
99.9916 6.957 6.957 6.957 6.956 6.956 6.957 6.957 6.956
100.0916 6.942 6.942 6.942 6.942 6.941 6.942 6.942 6.941
100.1916 6.928 6.928 6.928 6.928 6.927 6.928 6.928 6.927
100.2916 6.914 6.914 6.914 6.913 6.912 6.914 6.914 6.912
100.3916 6.900 6.900 6.899 6.899 6.898 6.900 6.900 6.898
100.4916(P) 6.886 6.885 6.885 6.885 6.884 6.886 6.886 6.884
100.5916 6.871 6.871 6.871 6.871 6.869 6.871 6.871 6.869
100.6916 6.857 6.857 6.857 6.856 6.855 6.857 6.857 6.855
100.7916 6.843 6.843 6.843 6.842 6.840 6.843 6.843 6.840
100.8916 6.829 6.829 6.828 6.828 6.826 6.829 6.829 6.826
100.9916 6.815 6.815 6.814 6.814 6.812 6.815 6.815 6.812
101.0916 6.801 6.800 6.800 6.800 6.797 6.801 6.801 6.797
101.1916 6.787 6.786 6.786 6.785 6.783 6.787 6.787 6.783
101.2916 6.773 6.772 6.772 6.771 6.769 6.773 6.773 6.769
101.3916 6.759 6.758 6.758 6.757 6.754 6.759 6.759 6.754
101.4916 6.744 6.744 6.744 6.743 6.740 6.744 6.744 6.740
101.5916 6.730 6.730 6.730 6.729 6.726 6.730 6.730 6.726
101.6916 6.716 6.716 6.716 6.715 6.711 6.716 6.716 6.711
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Average Life: 9.939 9.920 9.894 9.856 9.689 9.939 9.939 9.689
Mod Duration: 7.003 6.994 6.981 6.963 6.879 7.003 7.003 6.879
Exp. 1st Pay: 04/15/11 03/15/11 03/15/11 03/15/11 01/15/11 04/15/11 04/15/11 01/15/11
Exp. Maturity: 04/15/11 04/15/11 04/15/11 04/15/11 01/15/11 04/15/11 04/15/11 01/15/11
AL TSY Spread: 1.77 1.77 1.77 1.78 1.79 1.77 1.77 1.79
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
- --------------------------------------------------------------------------------
Treasury Curve
- --------------------------------------------------------------------------------
TSY Yield TSY Yield
--- ----- --- -----
1 YR 4.010
2 YR 4.222
5 YR 4.670 10 YR 5.120
Information herein has been obtained from sources believed to be reliable, but
CSI does not warrant its completeness or accuracy. Prices, opinions, and
estimates reflect CSI's judgment on the date hereof and are subject to change
without notice. This document is not an offer or solicitation for the purchase
or sale of any securities or financial instruments. Securities or financial
instruments mentioned herein may not be suitable for all investors. CSI or an
affiliate may have positions or act as a market maker in securities or financial
instruments mentioned herein (or options with respect thereto) and may also act
as advisor or lender to an issuer herein. Additional information is available
upon request. CSI is a separately incorporated subsidiary of Chase Manhattan
Corporation. copyright Chase Manhattan Corporation. Member NASD/SIPC. SFW
Software Copyright (c) 1989-2000 by WallStreet Analytics, Inc. Tel:
650-845-6260. Neither WSA nor CSI represents that the above information is
accurate or complete.
Page 1 of 1
16:58:06
04/20/01
CHASE SECURITIES, INC.
Deal: laun0419
Price/Yield Table: Tranche 7, Class D <12.75>
- -------------- ----------- -------- ---------- ---------- ------ --------
Pricing Speed: Run Settles Rules from Collateral Term Coupon
- -------------- ----------- -------- ---------- ---------- ------ --------
0.000 CPR at Issuance 05/07/01 Script 0.0 7.6536
- -------------- ------------ ------------ -------------- ---------------
Class D Original Par Type Coupon Price
- -------------- ------------ ------------ -------------- ---------------
Tranche 7 $15,565,000 SEQ 7.0220 (FIXED) 100.4942
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Prepayment Rate 0 CPR 25 CPR 50 CPR 75 CPR 100 CPR 0 CPR 0 CPR 100 CPR
Default Rate 0 CPR 0 CPR 0 CPR 0 CPR 0 CPR 1 CPR 2 CPR 1 CPR
Price in 1000/10000ths Steps +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP +0 BP
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
99.2942 7.188 7.188 7.188 7.188 7.189 7.188 7.188 7.189
99.3942 7.174 7.174 7.174 7.174 7.175 7.174 7.174 7.175
99.4942 7.159 7.159 7.159 7.159 7.160 7.159 7.159 7.160
99.5942 7.145 7.145 7.145 7.145 7.145 7.145 7.145 7.145
99.6942 7.130 7.130 7.130 7.130 7.130 7.130 7.130 7.130
99.7942 7.116 7.116 7.116 7.116 7.116 7.116 7.116 7.116
99.8942 7.102 7.102 7.102 7.102 7.101 7.102 7.102 7.101
99.9942 7.087 7.087 7.087 7.087 7.086 7.087 7.087 7.086
100.0942 7.073 7.073 7.073 7.073 7.072 7.073 7.073 7.072
100.1942 7.058 7.058 7.058 7.058 7.057 7.058 7.058 7.057
100.2942 7.044 7.044 7.044 7.044 7.043 7.044 7.044 7.043
100.3942 7.030 7.030 7.030 7.030 7.028 7.030 7.030 7.028
100.4942(P) 7.016 7.016 7.016 7.016 7.014 7.016 7.016 7.014
100.5942 7.001 7.001 7.001 7.001 6.999 7.001 7.001 6.999
100.6942 6.987 6.987 6.987 6.987 6.985 6.987 6.987 6.985
100.7942 6.973 6.973 6.973 6.973 6.970 6.973 6.973 6.970
100.8942 6.959 6.959 6.959 6.959 6.956 6.959 6.959 6.956
100.9942 6.944 6.944 6.944 6.944 6.941 6.944 6.944 6.941
101.0942 6.930 6.930 6.930 6.930 6.927 6.930 6.930 6.927
101.1942 6.916 6.916 6.916 6.916 6.912 6.916 6.916 6.912
101.2942 6.902 6.902 6.902 6.902 6.898 6.902 6.902 6.898
101.3942 6.888 6.888 6.888 6.888 6.883 6.888 6.888 6.883
101.4942 6.874 6.874 6.874 6.874 6.869 6.874 6.874 6.869
101.5942 6.860 6.860 6.860 6.860 6.855 6.860 6.860 6.855
101.6942 6.845 6.845 6.845 6.845 6.840 6.845 6.845 6.840
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
Average Life: 9.939 9.939 9.939 9.939 9.689 9.939 9.939 9.689
Mod Duration: 6.961 6.961 6.961 6.961 6.838 6.961 6.961 6.838
Exp. 1st Pay: 04/15/11 04/15/11 04/15/11 04/15/11 01/15/11 04/15/11 04/15/11 01/15/11
Exp. Maturity: 04/15/11 04/15/11 04/15/11 04/15/11 01/15/11 04/15/11 04/15/11 01/15/11
AL TSY Spread: 1.90 1.90 1.90 1.90 1.92 1.90 1.90 1.92
- ---------------------------- -------- -------- -------- -------- -------- -------- -------- --------
- --------------------------------------------------------------------------------
Treasury Curve
- --------------------------------------------------------------------------------
TSY Yield TSY Yield
--- ----- --- -----
1 YR 4.010
2 YR 4.222
5 YR 4.670 10 YR 5.120
Information herein has been obtained from sources believed to be reliable, but
CSI does not warrant its completeness or accuracy. Prices, opinions, and
estimates reflect CSI's judgment on the date hereof and are subject to change
without notice. This document is not an offer or solicitation for the purchase
or sale of any securities or financial instruments. Securities or financial
instruments mentioned herein may not be suitable for all investors. CSI or an
affiliate may have positions or act as a market maker in securities or financial
instruments mentioned herein (or options with respect thereto) and may also act
as advisor or lender to an issuer herein. Additional information is available
upon request. CSI is a separately incorporated subsidiary of Chase Manhattan
Corporation. copyright Chase Manhattan Corporation. Member NASD/SIPC. SFW
Software Copyright (c) 1989-2000 by WallStreet Analytics, Inc. Tel:
650-845-6260. Neither WSA nor CSI represents that the above information is
accurate or complete.
Page 1 of 1