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Bank 2018-BNK10

Filed: 25 Jan 18, 7:00pm

  FREE WRITING PROSPECTUS
  FILED PURSUANT TO RULE 433
  REGISTRATION FILE NO.: 333-206677-22
   

 

 

--- Original Sender: WELLS ABF SYNDICATE WELLS FARGO, WELLS FARGO SECURITIES LLC ---

 

 

BANK 2018-BNK10 - PUBLIC NEW ISSUE

**LAUNCH** $1,287.149 MM FIXED-RATE CMBS OFFERING

 

CO-LEAD MANAGERS

& JOINT BOOKRUNNERS: WELLS FARGO SECURITIES, LLC

BOFA MERRILL LYNCH

MORGAN STANLEY & CO. LLC

 

CO-MANAGER: ACADEMY SECURITIES, INC.

 

 

OFFERED CERTIFICATES - PUBLIC
CLASS DBRS/FITCH/MDYS SIZE($MM) C/EWALCUM LTVNOI DY LAUNCH
A-1AAA(sf)/AAAsf/Aaa(sf) 31.30730.000% 2.74 41.9% 17.5% S+20
A-2AAA(sf)/AAAsf/Aaa(sf)3.82230.000% 4.92 41.9% 17.5% S+43
A-3AAA(sf)/AAAsf/Aaa(sf)4.62330.000% 6.92 41.9% 17.5% S+66
A-SB AAA(sf)/AAAsf/Aaa(sf) 53.45230.000% 7.33 41.9% 17.5% S+56
A-4AAA(sf)/AAAsf/Aaa(sf)160.00030.000% 9.77 41.9% 17.5% S+64
A-5AAA(sf)/AAAsf/Aaa(sf)602.75030.000% 9.88 41.9% 17.5% S+66
A-SAAA(sf)/AAAsf/Aa3(sf)103.93721.500% 9.92 47.0% 15.6% S+87
BAA(high)(sf)/AA-sf/NR 55.02517.000% 9.92 49.6% 14.7% S+105
CA(sf)/A-sf/NR 56.55512.375%10.01 52.4% 13.9% S+150
        
        
NON-OFFERED CERTIFICATES - PRIVATE (144A)
CLASSDBRS/FITCH/MDYS SIZE($MM) C/EWALCUM LTVNOI DY 
X-DBBB(sf)/BBB-sf/NR 62.668N/AN/AN/A N/A 
DBBB(low)(sf)/BBB-sf/NR62.668 7.250%10.01 55.5% 13.2% 
        
        
NON-OFFERED ELIGIBLE VERTICAL INTEREST
CLASSDBRS/FITCH/MDYS SIZE($MM) C/EWALCUM LTVNOI DY 
RRNR/NR/NR 64.357N/A 9.57N/A N/A 

 

 

COLLATERAL SUMMARY

 

INITIAL POOL BALANCE:$1,287,148,920
NUMBER OF LOANS:68
NUMBER OF PROPERTIES:181
WA CUT-OFF LTV:59.8%
WA BALLOON LTV:55.2%
WA U/W NCF DSCR:2.35x
WA U/W NOI DEBT YIELD:12.2%
WA MORTGAGE RATE:4.369%
TOP TEN LOANS %:51.1%
WA REM TERM TO MATURITY (MOS):118
WA REM AMORTIZATION TERM (MOS):   353
WA SEASONING (MOS):1
  
LOAN SELLERS:MSMCH(42.8%) WFB(30.4%),
 BANA(22.3%), NCB(4.5%)
  
TOP 3 PROPERTY TYPES:OFFICE(24.9%), RETAIL(22.2%), SELF STORAGE(21.1%)
  
TOP 5 STATES:CA(20.3%), TX(9.2%), IL(7.1%), NJ(6.1%), WI(5.8%)
  
MASTER SERVICERS:WELLS FARGO BANK, NATIONAL ASSOCIATION AND NATIONAL COOPERATIVE BANK, N.A.
  
SPECIAL SERVICERS:TORCHLIGHT LOAN SERVICES, LLC AND NATIONAL COOPERATIVE BANK, N.A.
  
DIRECTING CERTIFICATEHOLDER:TORCHLIGHT INVESTORS, LLC
  
DOCUMENTS & TIMING 
 TERM SHEET, ANNEX A-1:ATTACHED
 ANTICIPATED PRICING:TODAY
 ANTICIPATED SETTLEMENT:FEBRUARY 13, 2018
  
ROADSHOW 
 HARTFORD, BREAKFAST:TUES, 1/23 @ 8:30AM ET, MAX DOWNTOWN RESTAURANT
 BOSTON, LUNCH:TUES, 1/23 @ 12:00PM ET, RITZ CARLTON
 MINNEAPOLIS, BREAKFAST:WED, 1/24 @ 7:30AM CT, KIMPTON GRAND HOTEL
 DES MOINES, LUNCH:WED, 1/24 @ 1:00PM CT, THE DES LUX HOTEL
  
CONFERENCE CALLS:UPON DEMAND

 

 

PRE-RECORDED GLOBAL INVESTOR CALL: WWW.NETROADSHOW.COM

REVIEW CODE: BNK10

FINAL LINK: www.netroadshow.com/nrs/wp/default.html?show=70d5Ee

 

 

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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