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WFRBS Commercial Mortgage Trust 2014-C21

Filed: 21 Jul 14, 8:00pm
 
  FREE WRITING PROSPECTUS
  FILED PURSUANT TO RULE 433
  REGISTRATION FILE NO.: 333-177891-08
   
 
 
STATEMENT REGARDING THIS FREE WRITING PROSPECTUS
 
The depositor has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (‘‘SEC’’) (SEC File No. 333-177891) 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 1-866-884-2071 (8 a.m. – 5 p.m. EST) or by emailing rbscmbs@rbs.com.
 
Nothing in this document constitutes an offer to sell or a solicitation to buy securities in any jurisdiction where such offer, solicitation or sale is not permitted.  The information contained herein is preliminary as of the date hereof, supersedes any such information previously delivered to you and will be superseded by any information subsequently delivered and ultimately by the final prospectus relating to the securities.  These materials are subject to change, completion, supplement or amendment from time to time.
 
STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION
 
The attached information contains certain tables and other statistical analyses (the “Computational Materials”) which have been prepared in reliance upon information furnished by the Mortgage Loan Sellers.  Numerous assumptions were used in preparing the Computational Materials, which may or may not be reflected herein.  As such, no assurance can be given as to the Computational Materials’ accuracy, appropriateness or completeness in any particular context; or as to whether the Computational Materials and/or the assumptions upon which they are based reflect present market conditions or future market performance.  The Computational Materials should not be construed as either projections or predictions or as legal, tax, financial or accounting advice.  You should consult your own counsel, accountant and other advisors as to the legal, tax, business, financial and related aspects of a purchase of these securities.  Any weighted average lives, yields and principal payment periods shown in the Computational Materials are based on prepayment and/or loss assumptions, and changes in such prepayment and/or loss assumptions may dramatically affect such weighted average lives, yields and principal payment periods.  In addition, it is possible that prepayments or losses on the underlying assets will occur at rates higher or lower than the rates shown in the attached Computational Materials.  The specific characteristics of the securities may differ from those shown in the Computational Materials due to differences between the final underlying assets and the preliminary 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.  None of RBS Securities Inc. (“RBSSI”), Wells Fargo Securities, LLC (“WFS”), or any other underwriter and any of their respective affiliates make any representation or warranty as to the actual rate or timing of payments or losses on any of the underlying assets or the payments or yield on the securities. The information in this presentation is based upon management forecasts and reflects prevailing conditions and management’s views as of this date, all of which are subject to change.  In preparing this presentation, we have relied upon and assumed, without independent verification, the accuracy and completeness of all information available from public sources or which was provided to us by or on behalf of the Mortgage Loan Sellers or which was otherwise reviewed by us.
 
This free writing prospectus contains certain forward-looking statements.  If and when included in this free writing prospectus, the words “expects”, “intends”, “anticipates”, “estimates” and analogous expressions and all statements that are not historical facts, including statements about our beliefs or expectations, are intended to identify forward-looking statements.  Any forward-looking statements are made subject to risks and uncertainties which could cause actual results to differ materially from those stated.  Those risks and uncertainties include, among other things, declines in general economic and business conditions, increased competition, changes in demographics, changes in political and social conditions, regulatory initiatives and changes in customer preferences, many of which are beyond our control and the control of any other person or entity related to this offering.  The forward-looking statements made in this free writing prospectus are made as of the date stated on the cover.  We have no obligation to update or revise any forward-looking statement.
 
RBS is a trade name for the investment banking business of RBSSI. Securities, syndicated loan arranging, financial advisory and other investment banking activities are performed by RBSSI and their securities affiliates.  Lending, derivatives and other commercial banking activities are performed by The Royal Bank of Scotland plc and their banking affiliates.  RBSSI is a member of SIPC, FINRA and the NYSE.
 
Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC, a member of FINRA, NYSE, NFA and SIPC, Wells Fargo Institutional Securities, LLC, a member of FINRA and SIPC, Wells Fargo Prime Services, LLC, a member of FINRA, NFA and SIPC and Wells Fargo Bank, N.A.
 
IRS CIRCULAR 230 NOTICE
 
THIS TERM SHEET IS NOT INTENDED OR WRITTEN TO BE USED, AND CANNOT BE USED, FOR THE PURPOSE OF AVOIDING U.S. FEDERAL, STATE OR LOCAL TAX PENALTIES.  THIS TERM SHEET IS WRITTEN AND PROVIDED BY THE DEPOSITOR IN CONNECTION WITH THE PROMOTION OR MARKETING BY THE DEPOSITOR AND THE CO-LEAD BOOKRUNNING MANAGERS OF THE TRANSACTION OR MATTERS ADDRESSED HEREIN.  INVESTORS SHOULD SEEK ADVICE BASED ON THEIR PARTICULAR CIRCUMSTANCES FROM AN INDEPENDENT TAX ADVISOR.
 
IMPORTANT NOTICE REGARDING THE OFFERED CERTIFICATES
 
The offered certificates referred to in these materials and the asset pool backing them are subject to modification or revision (including the possibility that one or more classes of certificates may be split, combined or eliminated at any time prior to issuance or availability of a final prospectus) and are offered on a “when, as and if issued” basis. Prospective investors should understand that, when considering the purchase of the offered certificates, a contract of sale will come into being no sooner than the date on which the relevant class of certificates has been priced and the underwriters have confirmed the allocation of certificates to be made to investors; any “indications of interest” expressed by any prospective investor, and any “soft circles” generated by the underwriters, will not create binding contractual obligations for such prospective investors, on the one hand, or the underwriters, the depositor or any of their respective agents or affiliates, on the other hand.
 
As a result of the foregoing, a prospective investor may commit to purchase certificates that have characteristics that may change, and each prospective investor is advised that all or a portion of the certificates referred to in these materials may be issued that differ from the characteristics described in these materials. The underwriters’ obligation to sell certificates to any prospective investor is conditioned on the certificates and the transaction having the characteristics described in these materials. If the underwriters determine that a condition is not satisfied in any material respect, such prospective investor will be notified, and neither the depositor nor the underwriters will have any obligation to such prospective investor to deliver any portion of the offered certificates which such prospective investor has committed to purchase, and there will be no liability between the underwriters, the depositor or any of their respective agents or affiliates, on the one hand, and such prospective investor, on the other hand, as a consequence of the non-delivery.
 
Each prospective investor has requested that the underwriters provide to such prospective investor information in connection with such prospective investor’s consideration of the purchase of the certificates described in these materials. These materials are being provided to each prospective investor for informative purposes only in response to such prospective investor’s specific request. The underwriters described in these materials may from time to time perform investment banking services for, or solicit investment banking business from, any company named in these materials. The underwriters and/or their affiliates or respective employees may from time to time have a long or short position in any security or contract discussed in these materials.
 
The information contained herein supersedes any previous such information delivered to any prospective investor and will be superseded by information delivered to such prospective investor prior to the time of sale.
 

IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS
Any legends, disclaimers or other notices that may appear at the bottom of, or attached to, any email communication to which this free writing prospectus is attached relating to (1) these materials not constituting an offer (or a solicitation of an offer), (2) no representation that these materials are accurate or complete and may not be updated or (3) these materials possibly being confidential, are not applicable to these materials and should be disregarded.  Such legends, disclaimers or other notices have been automatically generated as a result of these materials having been sent via Bloomberg or another system.



THE INFORMATION IN THIS STRUCTURAL AND COLLATERAL TERM SHEET IS NOT COMPLETE AND MAY BE AMENDED PRIOR TO THE TIME OF SALE. THIS TERM SHEET IS NOT AN OFFER TO SELL THESE SECURITIES AND IT IS NOT A SOLICITATION OF AN OFFER TO BUY THESE SECURITIES IN ANY JURISDICTION WHERE THE OFFER OR SALE IS NOT PERMITTED.

 
 

 
 
WFRBS 2014-C21 
Loan Contribution to Class X-A and X-B
               
Class X-A Components and Class X-B Components (Sorted by % of PV to X-A)** 
      TrustPercent ofNetTotal InterestTotal InterestPV of InterestPV of InterestPercent of PVPercent of PV
Loan    Loan No.BalanceTotal DealLoan Rateto X-Ato X-Bto X-Ato X-Bto X-Ato X-B
Highland Portfolio    562,400,0004.39%4.931%6,499,1461,173,8595,563,568973,6396.15%7.38%
Fairview Park Drive    190,000,0006.33%4.304%5,534,366661,6804,744,332549,1245.25%4.16%
Queens Atrium    290,000,0006.33%4.290%5,356,968624,4044,602,210519,5065.09%3.94%
Cedar Crest Professional Park    459,929,7634.21%4.555%4,396,038653,7373,780,927545,9014.18%4.14%
Algonquin Portfolio    749,500,0003.48%4.645%4,089,764634,6463,511,726530,4243.88%4.02%
Shops at CenterPoint    654,000,0003.80%4.425%3,674,306486,5333,160,385407,3663.49%3.09%
Montgomery Mall    946,000,0003.23%4.546%3,519,403509,8843,026,370427,5073.35%3.24%
The Bluffs    1036,184,5772.54%4.765%3,164,754524,1092,718,379437,5783.01%3.32%
Holiday Inn San Francisco Airport    1133,000,0002.32%4.805%2,880,036492,5832,478,937410,8422.74%3.11%
Tryp by Wyndham Times Square    846,879,4573.30%4.375%2,862,006361,7542,467,107303,0242.73%2.30%
Oak Park Village Apartments    1329,150,0002.05%4.745%2,622,243432,2222,248,652360,1912.49%2.73%
White Road Plaza    1232,000,0002.25%4.525%2,436,335357,9472,088,681297,8042.31%2.26%
SpringHill Suites & Residence Inn Glendale    1819,229,0591.35%4.875%1,824,511314,7121,566,307262,7271.73%1.99%
Rock Pointe East    1721,750,0001.53%4.595%1,682,685263,2721,446,152218,8291.60%1.66%
Best Western Premier Hotel Napa    1918,970,0411.33%4.805%1,654,521276,8321,424,164231,7371.57%1.76%
Oak Court Mall    1523,884,9831.68%4.731%1,425,462203,5341,286,396181,5381.42%1.38%
Sheraton Austin    367,000,0004.71%3.935%1,339,40413,7461,238,70712,7241.37%0.10%
JBL Hotel Portfolio    2414,684,1171.03%4.904%1,422,056247,6281,220,644206,7201.35%1.57%
The Lovejoy    1424,000,0001.69%4.265%1,408,624159,1761,208,071132,0961.34%1.00%
Kingsborough Estates MHC    2713,125,0000.92%4.835%1,248,737217,8711,071,060181,0021.18%1.37%
Coastal Sunbelt    2514,500,0001.02%4.675%1,238,407193,6741,063,502162,1561.18%1.23%
Holiday Inn Louisville    399,969,7500.70%5.325%1,204,256227,7711,035,276191,0801.14%1.45%
2929 Imperial Highway   ��2215,250,0001.07%4.552%1,185,042174,8251,016,513145,8741.12%1.11%
Village Oaks    3311,425,0000.80%4.925%1,166,310202,5321,000,057169,2291.11%1.28%
Harbourside Office Building    3111,945,0770.84%4.915%1,146,947195,836987,096164,5121.09%1.25%
Quest Automotive Products    428,462,4210.59%5.485%1,051,422202,456907,084170,5831.00%1.29%
LA Fitness - Irvine    3510,988,0140.77%4.868%1,037,379178,517890,599149,0300.98%1.13%
One Commerce    3411,200,0000.79%4.765%1,024,424170,299878,303141,9020.97%1.08%
Seven Corners Apartments    2018,000,0001.27%4.205%974,69597,319837,18281,0350.93%0.61%
Barrington Orthopedics Portfolio    2115,859,2211.11%4.375%968,211122,381834,617102,5130.92%0.78%
Quantico III    2613,367,1220.94%4.545%967,731141,091832,980118,1530.92%0.90%
Marina Plaza    2314,750,0001.04%4.385%932,489118,187804,18299,1990.89%0.75%
SecurLock Portfolio    418,580,9310.60%5.095%905,830160,927781,870135,8400.86%1.03%
Clear Point Gardens    3011,970,7360.84%4.585%898,442134,334773,129112,4900.85%0.85%
The Stockdale Plaza    2812,000,0000.84%4.465%843,153114,955725,92396,4410.80%0.73%
Warminster Heights Home Ownership Association, Inc.    2911,986,0160.84%4.515%835,697118,138720,72299,2600.80%0.75%
Colonial Heritage MHC    3610,981,9000.77%4.605%814,411124,106701,873103,9140.78%0.79%
Swift Spinning Leaseback    467,774,1080.55%5.005%797,908140,738685,725117,9810.76%0.89%
Cimarron Heights MHP    3211,686,2730.82%4.475%795,444111,756684,52293,3210.76%0.71%
Woods of Fairlawn Apartments    3710,075,6190.71%4.585%756,730113,156651,15494,7510.72%0.72%
Holiday Inn Express Wixom    536,690,0120.47%5.155%736,626139,095633,139116,0180.70%0.88%
Holiday Inn Express Superior    457,967,4170.56%4.845%715,280121,440615,592101,6590.68%0.77%
Arminta Apartments    477,233,2720.51%4.895%685,135116,243589,68497,6490.65%0.74%
Kane Distribution Center 6    1622,600,0001.59%4.165%638,40445,858589,45342,0710.65%0.32%
Residence Inn by Marriott, Colorado Springs, CO    516,800,0000.48%4.859%658,260113,175564,53594,3720.62%0.72%
The Shoppes of Ocoee    487,117,1590.50%4.825%651,269110,388559,23792,1580.62%0.70%
Riverplace Athletic Club    497,100,0000.50%5.125%601,002100,087536,57988,1640.59%0.67%
Boston Mills Road    665,194,7940.37%5.225%616,292118,788528,34898,8020.58%0.75%
Fairfield Inn & Suites New Braunfels    546,684,5000.47%4.875%613,205107,464527,66789,6410.58%0.68%
Bramblewood MHC    506,995,9490.49%4.785%607,39498,651523,65283,0270.58%0.63%
Port Crossing    556,600,0000.46%4.815%599,731103,631514,99486,1940.57%0.65%
Genesis Building    408,719,7280.61%4.505%587,82682,895507,32369,6070.56%0.53%
Holiday Inn Express Southfield    645,342,0250.38%5.155%588,202111,068505,56792,6420.56%0.70%
AT&T - 2011 West Hastings    448,000,0000.56%4.525%586,71784,565504,56770,7410.56%0.54%
Elms Estate (MHC)    595,928,3020.42%5.165%537,71996,260469,38482,0560.52%0.62%
Fairfield Inn & Suites Colorado Springs, CO    615,600,0000.39%4.859%542,09693,203464,91277,7180.51%0.59%
Riverwinds MHC    784,046,1480.28%5.435%538,085107,518461,00689,4200.51%0.68%
Hampton Inn - Auburn Hills    566,484,3410.46%4.685%529,69383,573455,54169,9780.50%0.53%
Fitch Apartments    526,743,5160.47%5.395%490,93080,472451,64573,5900.50%0.56%
Dover Storage Facility    605,961,6020.42%4.815%523,84887,981450,89073,6480.50%0.56%
Budget Self Storage Portfolio    724,800,0000.34%5.175%522,59698,661449,88982,4570.50%0.62%
Holiday Inn Express Somerset    684,992,2980.35%4.975%490,64588,641422,01373,9390.47%0.56%
Cityside Apartments    754,236,5250.30%5.175%483,40888,821415,17774,4470.46%0.56%
Holiday Inn Express & Suites Lake Charles    694,992,2280.35%4.925%474,28984,446408,03470,4400.45%0.53%
Eagle Point Apartments    635,450,0000.38%4.675%463,23873,952397,41861,6340.44%0.47%
Arrowhead Apartments    389,987,6230.70%4.275%414,80241,121372,36236,3510.41%0.28%
The Palms Apartments    655,330,7810.37%4.635%415,67963,695357,87353,4080.40%0.40%
Cedar Park Estates    744,387,5000.31%4.775%400,93265,783344,25255,0440.38%0.42%
Fairfield Inn & Suites, Olathe, KS    774,080,0000.29%4.829%380,77664,697326,81153,9860.36%0.41%
Citrus Park Retail Center    804,000,0000.28%4.845%377,68766,033324,13554,8960.36%0.42%
Sage Creek    714,810,0000.34%4.545%377,22555,658322,98246,3370.36%0.35%
Amelia Station    833,741,3120.26%4.855%348,33258,925299,29549,3300.33%0.37%
Greens Lake Apartments    823,845,6840.27%4.745%331,16954,389284,49045,4100.31%0.34%
Xena - Blossom Corners Apartments    574,710,7650.33%4.505%322,51445,595278,04338,2390.31%0.29%
Ezon Building    952,897,0190.20%5.115%322,00060,646276,15650,4440.31%0.38%
Bon Aire Park Owners, Inc.    438,089,5040.57%4.035%310,35716,821269,23614,1300.30%0.11%
Shoppes of Fort Wright    903,267,4280.23%4.885%312,09154,008267,92045,0880.30%0.34%
Dundee Meadows MHC    1091,921,1960.14%5.625%280,43356,371240,14947,0300.27%0.36%
Bay Area Self Storage - Bird    813,900,0000.27%4.465%278,22938,093239,10931,8900.26%0.24%
Brougham Manor Apartments    853,561,2940.25%4.625%276,64142,321238,00135,4390.26%0.27%
Great Value Storage    883,396,0830.24%4.625%265,05441,085227,85734,3060.25%0.26%
Patriot Village    913,200,0000.22%4.675%263,46641,404226,49634,6520.25%0.26%
Commercial Drive Plaza    1042,397,5210.17%5.095%263,22249,349225,76441,0470.25%0.31%
Breiel Boulevard Store-N-Lock    1072,075,5400.15%5.245%248,95447,177213,42139,3720.24%0.30%
Taxi Office Building    962,846,7680.20%4.695%235,57037,833202,42331,5890.22%0.24%
Stonegate MHP    1052,397,4200.17%4.925%231,95839,733199,61133,3760.22%0.25%
138-15 Franklin Avenue Apartments Corp.    625,478,1790.39%4.095%228,57016,320198,47413,7590.22%0.10%
Red Run MHC    982,797,0870.20%5.065%221,12635,940198,20231,8140.22%0.24%
Shadow Wood MHP    942,954,7770.21%4.625%230,50835,728198,16529,8340.22%0.23%
Santa Fe Palms    1022,494,1480.18%4.825%227,12938,011195,18731,8230.22%0.24%
Sun Valley MHC    932,996,4800.21%4.545%217,79433,017187,33327,4560.21%0.21%
American Mini Storage I - Missouri City    794,000,0000.28%4.455%208,92025,579187,13722,5820.21%0.17%
Shops at Vicksburg    1002,625,0000.18%4.645%212,61332,928182,75127,5500.20%0.21%
24 Central Park South, Inc.    675,100,0000.36%4.025%208,74410,787180,1409,0050.20%0.07%
Walgreens - Denver    992,728,1800.19%4.515%191,92427,408165,24422,9540.18%0.17%
Gateway Apartment Owners Corp.    704,811,9700.34%4.055%189,53111,374164,5439,5790.18%0.07%
Villa Manor MHP    1191,197,6800.08%5.725%183,07037,239156,73531,0660.17%0.24%
American Mini Storage II - Arlington    873,500,0000.25%4.405%174,04320,340155,93217,9570.17%0.14%
Williamsburg East Apartments    1181,400,0000.10%5.355%178,58435,238153,03429,3060.17%0.22%
Dysart Mini Storage    1141,644,2920.12%5.075%178,29233,269152,93127,6720.17%0.21%
Missile Drive MHP    1151,613,3280.11%5.085%176,03032,925150,98527,3860.17%0.21%
993 Fifth Avenue Corporation    863,500,0000.25%4.155%172,87415,095149,18512,6530.16%0.10%
67th Road Housing Corporation    843,585,7750.25%4.115%154,20311,814133,8549,9600.15%0.08%
2630 Kingsbridge Terrace Owners, Inc.    734,693,7770.33%3.935%149,6682,225130,1691,8640.14%0.01%
American Mini Storage II - Colorado Springs    972,800,0000.20%4.405%139,23416,272124,74614,3650.14%0.11%
Bay Area Self Storage - Bernal    1082,030,0000.14%4.465%144,82219,828124,46016,5990.14%0.13%
Trolley Commerce Center    1101,813,8730.13%4.655%139,86121,630120,58018,1590.13%0.14%
Palmbrook Gardens Tenants Corp.    1032,490,3810.18%4.245%127,86513,326110,79211,2350.12%0.09%
All American Storage Bloomington South    764,194,6510.29%4.175%118,3138,730109,1798,0030.12%0.06%
23399 Commerce Drive    1161,494,9510.11%4.715%120,96319,256104,25616,1660.12%0.12%
67-35 Yellowstone Blvd. Owners Corp.    1012,496,2610.18%4.115%111,9748,64896,8697,2630.11%0.06%
Harrison Commons, Ltd.    1062,246,6450.16%4.125%102,2838,15788,4716,8500.10%0.05%
All American Storage East    893,395,6700.24%4.175%95,7777,06788,3836,4790.10%0.05%
All American Storage of Evansville    923,195,9250.22%4.175%90,1436,65183,1846,0980.09%0.05%
Xena - Meadowdale Apartments    581,345,9330.09%4.505%92,14713,02779,44110,9260.09%0.08%
Cedargate Apartments    1131,685,5700.12%4.265%90,6339,93478,2228,3230.09%0.06%
320 W. 89th St. Owners Corp.    1171,494,1810.11%4.205%72,8787,04863,1785,9430.07%0.05%
Florence Court Corporation    1121,693,7040.12%4.055%64,6143,85456,2203,2540.06%0.02%
World Park 9    1111,752,7310.12%4.105%44,5542,65441,1672,4360.05%0.02%
214 West 17th Apartment Corp.    120972,3880.07%4.095%40,8072,91835,4002,4570.04%0.02%
Commons of Pleasantville N.Y. Inc.    121847,7540.06%4.165%39,4073,49134,1482,9390.04%0.02%
Totals     1,422,653,723100.00% 104,865,17115,758,46890,426,41513,194,699100.00%100.00%
               
** Assumes 100 CPY to Call and no prepayment penalties received
 
 
 
 

 
 
 
WFRBS 2014-C21
Class X-A and X-B Composition by Bond Components **
                     
                     
Class X-A Components Class X-A Components (Cumulative)
       Class ASB          Class A-SBFX  
 Class A-1Class A-2Class A-3Class A-4Class A-5Class A-SBFX Reg InterestClass A-STotal X-A  Class A-1Class A-2Class A-3Class A-4Class A-5Class A-SBReg InterestClass A-STotal X-A
Total5.88%8.86%3.75%36.26%30.22%4.35%4.31%6.37%100.00% Total5.88%8.86%3.75%36.26%30.22%4.35%4.31%6.37%100.00%
                     
Year 12.14%2.03%0.63%4.38%3.57%0.67%0.66%0.75%14.83% Year 12.14%2.03%0.63%4.38%3.57%0.67%0.66%0.75%14.83%
Year 21.69%1.98%0.62%4.27%3.49%0.65%0.64%0.73%14.06% Year 23.82%4.01%1.25%8.66%7.06%1.32%1.30%1.48%28.89%
Year 31.21%1.89%0.59%4.08%3.32%0.62%0.61%0.69%13.01% Year 35.03%5.90%1.83%12.74%10.38%1.93%1.92%2.17%41.90%
Year 40.69%1.83%0.57%3.93%3.20%0.60%0.59%0.67%12.08% Year 45.72%7.73%2.40%16.67%13.58%2.53%2.51%2.84%53.98%
Year 50.16%1.13%0.55%3.84%3.14%0.58%0.58%0.66%10.64% Year 55.88%8.86%2.96%20.51%16.72%3.12%3.09%3.50%64.62%
Year 60.00%0.00%0.55%3.82%3.14%0.51%0.51%0.66%9.19% Year 65.88%8.86%3.51%24.33%19.85%3.63%3.60%4.16%73.81%
Year 70.00%0.00%0.24%3.64%2.98%0.37%0.37%0.63%8.23% Year 75.88%8.86%3.75%27.96%22.84%4.00%3.96%4.79%82.04%
Year 80.00%0.00%0.00%3.51%2.87%0.24%0.23%0.61%7.45% Year 85.88%8.86%3.75%31.47%25.71%4.23%4.20%5.40%89.50%
Year 90.00%0.00%0.00%3.38%2.77%0.11%0.11%0.58%6.95% Year 95.88%8.86%3.75%34.85%28.48%4.34%4.30%5.98%96.44%
Year 100.00%0.00%0.00%1.41%1.74%0.01%0.01%0.39%3.56% Year 105.88%8.86%3.75%36.26%30.22%4.35%4.31%6.37%100.00%
                     
                     
Class X-B Components Class X-B Components (Cumulative)          
 Class BClass CClass DTotal X-B  Class BClass CClass DTotal X-B          
Total26.45%13.74%59.82%100.00% Total26.45%13.74%59.82%100.00%          
                     
Year 13.07%1.59%7.06%11.72% Year 13.07%1.59%7.06%11.72%          
Year 23.04%1.58%6.88%11.49% Year 26.10%3.16%13.94%23.21%          
Year 32.83%1.47%6.55%10.85% Year 38.93%4.63%20.49%34.05%          
Year 42.72%1.41%6.30%10.43% Year 411.65%6.04%26.79%44.48%          
Year 52.71%1.41%6.16%10.28% Year 514.36%7.45%32.95%54.76%          
Year 62.83%1.47%6.12%10.42% Year 617.20%8.92%39.06%65.18%          
Year 72.64%1.37%5.82%9.83% Year 719.83%10.29%44.88%75.01%          
Year 82.53%1.32%5.60%9.44% Year 822.36%11.61%50.48%84.45%          
Year 92.43%1.26%5.39%9.08% Year 924.79%12.87%55.86%93.52%          
Year 101.66%0.86%3.95%6.48% Year 1026.45%13.74%59.82%100.00%          
                     
                     
** Assumes 100 CPY to Call and no prepayment penalties received