FWP 1 n1048_x14.htm FREE WRITING PROSPECTUS

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

 

WFCM 2017-C40 - PUBLIC NEW ISSUE

**PRICING DETAILS** $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 WA   SPD CPN% YIELD% $PRICE
A-1 AAAsf/AAA(sf)/Aaa(sf) 23.786 30.000% 2.59 +26 2.110 2.0864 99.9995
A-2   AAAsf/AAA(sf)/Aaa(sf) 23.626 30.000% 4.67 +48 2.495 2.4858 99.9999
A-SB AAAsf/AAA(sf)/Aaa(sf) 32.869 30.000% 7.36 +76   3.395 2.9391 102.9937
A-3   AAAsf/AAA(sf)/Aaa(sf) 185.000 30.000% 9.67 +91 3.317 3.2030 100.9942
A-4   AAAsf/AAA(sf)/Aaa(sf) 203.796 30.000% 9.87 +93 3.581 3.2314 102.9959
A-S AAAsf/AAA(sf)/Aa2(sf) 56.122 21.625% 9.91 +120 3.854 3.5033 102.9987
B   AA-sf/AA(sf)/NR 32.668 16.750% 9.91 +165 4.415 3.9533 102.9998
C   A-sf/A(sf)/NR 30.154 12.250% 9.91 +220 4.481 4.5033 99.1256

 

 

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 BALANCEt: $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: PRICED
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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