Banc of America Merrill Lynch Commercial Mortgage Inc.
11/18/2024 | Press release | Distributed by Public on 11/18/2024 13:35
Free Writing Prospectus - Form FWP
| FREE WRITING PROSPECTUS | ||
| FILED PUR SUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-261279-06 |
Sent: Monday, November 18, 2024 12:22 PM
Subject: BANK5 2024-5YR12 **NEW ISSUE ANNOUNCEMENT** PUBLICS
NEW ISSUE CMBS: approx. $740.674mn BANK5 2024-5YR12
CO-LEAD MANAGERS & BOOKRUNNERS: BofA Securities, Morgan Stanley, JP Morgan and Wells Fargo Securities
CO-MANAGERS: Academy Securities, Inc. and Drexel Hamilton
| CLASS | Fitch/Moody’s/KBRA | SIZE($MM) | WAL(YRS) | CE% | WINDOW | DY% | LTV% |
| A-1 | AAAsf/Aaa(sf)/AAA(sf) | $2.556 | 2.56 | 30.000% | 1-57 | 16.0% | 40.5% |
| A-2 | AAAsf/Aaa(sf)/AAA(sf) | * | * | 30.000% | * | 16.0% | 40.5% |
| A-3 | AAAsf/Aaa(sf)/AAA(sf) | * | * | 30.000% | * | 16.0% | 40.5% |
| A-S | AAAsf/A1(sf)/AAA(sf) | $81.141 | 5.01 | 20.250% | 60-60 | 14.1% | 46.1% |
| B | AA-sf/NR/AA-(sf) | $43.692 | 5.01 | 15.000% | 60-60 | 13.2% | 49.2% |
| C | A-sf/NR/A-(sf) | $33.288 | 5.01 | 11.000% | 60-60 | 12.6% | 51.5% |
* Sizes subject to change as detailed in the attached Term Sheet. Range of possible available sizes below:
| Range of Principal Balance | Initial Range of WAL (Yrs) | Range of Prin Win | |
| A-2 | $0 - $275,000,000 | NAP – 4.86 | NAP / 57 – 59 |
| A-3 | $304,997,000 - $579,997,000 | 4.90 – 4.94 | 57 – 60 / 59 – 60 |
| POOL BALANCE: | $876,020,000 |
| NUMBER OF LOANS/PROPERTIES: | 27/147 |
| WA MORTGAGE INT. RATE: | 6.3231% |
| WA CUT-OFF LTV: | 57.9% |
| WA UW NCF DSCR: | 1.67x |
| WA UW NOI DEBT YLD: | 11.2% |
| WA ORIG TERM TO MATURITY: | 60 |
| TEN LARGEST LOANS: | 73.1% |
| LOAN SELLERS: | BANA(44.7%), MSMCH(17.9%), JPMCB(12.7%), WFB(5.5%), MSMCH/JPMCB (9.7%), WFB/JPMCB (9.5%) |
| TOP 5 STATES: | NY(31.3%),IN(9.4%),MO(7.4%),CA(7.1%),TX(6.9%) |
| TOP 5 PROPERTY TYPES: | RT(20.2%),MU(17.1%),MHC(16.2%),MF(13.4%),OF(12.8%) |
| RISK RETENTION | Eligible vertical interest ("V") |
| MASTER SERVICER: | Wells Fargo Bank |
| SPECIAL SERVICER: | KeyBank National Association |
| TRUSTEE: | ComputerShare |
| CERT ADMIN: | ComputerShare |
| TRUST ADVISOR: | Park Bridge |
| INITIAL CONTROLLING CLASS REP: | CMBS 4 Sub 6, LLC or an affiliate thereof |
| Documents and Expected Timing: | |
| Attached: | TERM SHEET, ANNEX A-1, PRELIM PROSPECTUS |
| INVESTOR CALL: | Upon request |
| PRICING: | Week of November 18 |
| SETTLEMENT: | On or about December 11 |
The issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free 1-800-294-1322 or you may e-mail a request to [email protected]. The securities may not be suitable for all investors. BofA Securities, Inc. and its affiliates may acquire, hold or sell positions in these securities, or in related derivatives, and may have an investment or commercial banking relationship with the issuer.
IMPORTANT NOTICE RELATING TO AUTOMATICALLY-GENERATED EMAIL DISCLAIMERS
ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF ANY EMAIL COMMUNICATION TO WHICH THIS COMMUNICATION 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 THIS OFFERING 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.