FWP 1 n2971_x10-revisedipt.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-257991-03
     

 

From: WELLS ABF SYNDICATE WELLS FARGO (WELLS FARGO SECURITIES LLC)
At: 02/24/22 15:47:18 UTC-05:00

BANK 2022-BNK40 - PUBLIC NEW ISSUE

**IPT** $999.012MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS  
& JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC
  BOFA SECURITIES, INC.
  MORGAN STANLEY & CO. LLC
   
CO-MANAGERS: ACADEMY SECURITIES, INC.
  DREXEL HAMILTON, LLC
  SIEBERT WILLIAMS SHANK & CO., LLC

 

OFFERED CERTIFICATES - PUBLIC REVISED

CLASS FITCH/KBRA/S&P SIZE($MM) C/E WAL CUM LTV NOI DY IPT STATUS IPT^
A-1 AAAsf/AAA(sf)/AAA(sf) 11.750 30.000% 2.90 34.5% 20.1% P+55A SUBJ P+70
A-2 AAAsf/AAA(sf)/AAA(sf) 6.857 30.000% 5.01 34.5% 20.1% P+95A SUBJ P+100
A-SB AAAsf/AAA(sf)/AAA(sf) 20.730 30.000% 7.46 34.5% 20.1% P+105A OPEN P+123A
A-3* AAAsf/AAA(sf)/AAA(sf) 300.000 30.000% 9.81 34.5% 20.1% A4-2BPS \ ~35% A4-2BPS
A-4* AAAsf/AAA(sf)/AAA(sf) 440.923 30.000% 9.90 34.5% 20.1% P+120A / comb P+133A
X-A AAAsf/AAA(sf)/AAA(sf) 780.260 N/A N/A N/A N/A      
X-B A-sf/AAA(sf)/NR 218.752 N/A N/A N/A N/A      
A-S AAAsf/AAA(sf)/AA+(sf) 133.759 18.000% 10.00 40.4% 17.2% P+150A ~40+% P+170A
B AA-sf/AA(sf)/AA-(sf) 43.193 14.125% 10.01 42.3% 16.4% P+165A ~50% P+185A
C A-sf/A-(sf)/NR 41.800 10.375% 10.01 44.1% 15.7% P+195A SUBJ P+210

 

^PLEASE CONFIRM ANY INTEREST AT ORIGINAL IPTS IN AT REVISED LEVELS

 

*Sizes and WAL’s are subject to change as detailed in the Term Sheet.

 

 

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. 333-257991) 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.

 

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 may 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:

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