FWP 1 n1048_x11.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-206677-19
     

WFCM 2017-C40 - PUBLIC NEW ISSUE

**ANNOUNCEMENT** $588.021 MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS

& JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC
  BARCLAYS CAPITAL INC.
   
CO-MANAGER: ACADEMY SECURITIES, INC.

 

 

OFFERED CERTIFICATES - PUBLIC
CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
A-1 AAAsf/AAA(sf)/Aaa(sf) 23.786 30.000% 2.59 39.7% 16.2%
A-2 AAAsf/AAA(sf)/Aaa(sf) 23.626 30.000% 4.67 39.7% 16.2%
A-SB AAAsf/AAA(sf)/Aaa(sf) 32.869 30.000% 7.36 39.7% 16.2%
A-3 AAAsf/AAA(sf)/Aaa(sf) 185.000   30.000% 9.67 39.7% 16.2%
A-4 AAAsf/AAA(sf)/Aaa(sf) 203.796   30.000% 9.87 39.7% 16.2%
X-A AAAsf/AAA(sf)/Aaa(sf) 469.077   N/A N/A N/A N/A
X-B A-sf/AAA(sf)/NR 118.944   N/A N/A N/A N/A
A-S AAAsf/AAA(sf)/Aa2(sf) 56.122 21.625% 9.91 44.4% 14.5%
B AA-sf/AA(sf)/NR 32.668 16.750% 9.91 47.2% 13.6%
C A-sf/A(sf)/NR 30.154 12.250% 9.91 49.7% 12.9%
             
             
NON-OFFERED CERTIFICATES - PRIVATE (144A)
CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
X-D BBB-sf/BBB-(sf)/NR 34.344 N/A N/A N/A N/A
D BBB-sf/BBB-(sf)/NR 34.344 7.125% 9.91 52.6% 12.2%
             
NON-OFFERED ELIGIBLE VERTICAL INTEREST
CLASS FITCH/KBRA/MDYS SIZE($MM) C/E WAL CUM LTV NOI DY
RR NR/NR/NR 35.269 N/A 9.26 N/A N/A

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE: $705,379,517
NUMBER OF LOANS: 65
NUMBER OF PROPERTIES: 150
WA CUT-OFF LTV: 56.6%
WA BALLOON LTV: 50.7%
WA U/W NCF DSCR: 2.10x
WA U/W NOI DEBT YIELD: 11.4%
WA MORTGAGE RATE: 4.357%
TOP TEN LOANS %: 49.2%
WA REM TERM TO MATURITY (MOS): 116
WA REM AMORTIZATION TERM (MOS): 352
WA SEASONING (MOS): 3
   
LOAN SELLERS: BARCLAYS(37.4%), WFB(37.0%), RMF(15.5%), CIIICM(10.2%)
TOP 3 PROPERTY TYPES: RETAIL(37.9%), OFFICE(22.2%), HOSPITALITY(16.7%)
   
TOP 5 STATES: CA(20.9%), TX(15.5%), GA(9.0%), NY(8.5%), LA(7.1%)
   
MASTER SERVICER: WELLS FARGO BANK, NATIONAL ASSOCIATION
   
SPECIAL SERVICER: C-III ASSET MANAGEMENT LLC
   
DIRECTING CERTIFICATEHOLDER: RCC REAL ESTATE, INC. OR AN AFFILIATE
   
DOCUMENTS & TIMING  
TERM SHEET, ANNEX A-1: ATTACHED
PRESALE REPORTS: TODAY & TOMORROW
ANTICIPATED PRICING: WEEK OF OCTOBER 5, 2017
ANTICIPATED SETTLEMENT: OCTOBER 17, 2017
   
CONFERENCE CALLS: UPON DEMAND
   
PRE-RECORDED GLOBAL INVESTOR CALL: WWW.NETROADSHOW.COM
REVIEW CODE: C40WFCM2017
FINAL LINK: www.netroadshow.com/nrs/wp/default.html?show=82676F

 

 

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. 333-206677) 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.

 

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