FWP 1 n1838_x11-ioguidance.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-226486-10
     

 

NEW ISSUE CMBS: BANK 2019-BNK22 **PUBLIC IO GUIDANCE**

BANK 2019-BNK22 - PUBLIC NEW ISSUE
**PUBLIC IO GUIDANCE** $1,014.989MM FIXED-RATE CMBS OFFERING

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

 

 

OFFERED CERTIFICATES - PUBLIC

CLASS DBRS/Fitch/S&P SIZE($MM) PROCEEDS($MM) PRICE GUID  
X-A AAA(sf)/AAAsf/AAA(sf) 799.428 ~40+ T +125A  
X-B AA(high)(sf)/A-sf/NR 215.561 ~3+ AUCTION @ 1PM; SUGG'D: T +115A  

 

NON-OFFERED CERTIFICATES - PRIVATE (144A)

CLASS DBRS/Fitch/S&P SIZE($MM) C/E WAL CUM LTV NOI DY
X-D A(high)(sf)/BBB-sf/NR 54.247 N/A N/A N/A N/A
D A(sf)/BBBsf/NR 31.406 8.375% 10.00 48.4% 12.6%
E BBB(high)(sf)/BBB-sf/NR 22.841 6.375% 10.00 49.5% 12.3%

 

NON-OFFERED ELIGIBLE VERTICAL INTEREST

CLASS DBRS/Fitch/S&P SIZE($MM) C/E WAL CUM LTV NOI DY
RRI NR/NR/NR 60.107 N/A 9.72 N/A N/A

 

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $1,202,148,724
NUMBER OF LOANS: 58
NUMBER OF PROPERTIES: 131
WA CUT-OFF LTV: 52.9%
WA BALLOON LTV: 51.5%
WA U/W NCF DSCR: 2.90x
WA U/W NOI DEBT YIELD: 11.5%
WA MORTGAGE RATE: 3.483%
TOP TEN LOANS %: 60.7%
WA REM TERM TO MATURITY (MOS): 118
WA REM AMORTIZATION TERM (MOS): 359
WA SEASONING (MOS): 1
   
LOAN SELLERS: BANA(34.7%), WFB(29.4%), MSMCH(28.5%), NCB(7.4%)
   
TOP 3 PROPERTY TYPES: OFFICE(38.2%), MULTIFAMILY(19.3%), RETAIL(14.3%)
   
TOP 5 STATES: NY(31.4%), CA(22.4%), FL(8.2%), DC(7.4%), TX(4.4%)
   
MASTER SERVICERS: WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
   
SPECIAL SERVICERS: KEYBANK NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
   
DIRECTING CERTIFICATEHOLDER: ELLINGTON MANAGEMENT GROUP, LLC
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PROSPECTUS: ATTACHED
PRESALE REPORTS: AVAILABLE
ANTICIPATED SETTLEMENT: NOVEMBER 15, 2019
   
THIRD PARTY PASSWORDS:  
Name PW  
BBG/Trepp BANK 2019-BN22 BANK22  
Intex BNK19B22 k8ev9mrejr6nd7pc  
   
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.