JP Morgan Chase Commercial Mortgage Securities Corp.
04/19/2024 | Press release | Distributed by Public on 04/19/2024 11:24
Free Writing Prospectus - Form FWP
| FREE WRITING PROSPECTUS | ||
| FILED PURSUANT TO RULE 433 | ||
| REGISTRATION FILE NO.: 333-258342-04 |
From: Spg Syndicate Jpm (JP MORGAN SECURITIES)
Sent: Friday, April 19, 2024 11:31 AM
Subject: ★CLASS XB LAUNCH★ BANK5 2024-5YR6 - PUBLIC NEW ISSUE
| JOINT BOOKRUNNERS & CO-LEAD MANAGERS : | J.P. MORGAN SECURITIES LLC, MORGAN STANLEY & CO., LLC, |
| WELLS FARGO SECURITIES, LLC, BOFA SECURITIES, INC. | |
| CO-MANAGERS : | DREXEL HAMILTON, LLC, ACADEMY SECURITIES, INC. |
| RATING AGENCIES : | FITCH/KBRA/MOODYS |
| OFFERING TYPE : | SEC-REGISTERED |
OFFERED CERTIFICATES - PUBLIC
| CLASS | FITCH/KBRA/MOODYS | SIZE($MM) | ~PROCEEDS($MM) | LAUNCH |
| XB | A-/AAA/NR | 199.324 | ~1.1 | J+109 |
| * PRICING SPEED IS 100 CPY TO CALL | |
| COLLATERAL SUMMARY | |
| CUT-OFF DATE BALANCE : | $984,317,834 |
| NUMBER OF LOANS : | 46 |
| NUMBER OF PROPERTIES : | 54 |
| WA CUT-OFF LTV : | 56.0% |
| WA MATURITY LTV : | 55.9% |
| WA U/W NCF DSCR : | 1.73x |
| WA U/W NOI DEBT YIELD : | 13.2% |
| TOP TEN LOANS % : | 53.2% |
| WA TERM TO MATURITY (MOS) : | 58 |
| WA REMAINING AMORTIZATION TERM (MOS) : | 359 |
| WA SEASONING (MOS) : | 2 |
| TOP 5 PROPERTY TYPES : | RETAIL (46.2%), MULTIFAMILY (13.8%), MIXED USE (13.7%), HOSPITALITY(13.6%), OFFICE (6.0%) |
| TOP 5 STATES : | CA (30.4%), NY (13.1%), MD (7.5%), OH (7.1%), LA (7.0%) |
| LOAN SELLERS : | JPMORGAN CHASE BANK, N.A. (23.4%), MORGAN STANLEY MORTGAGE CAPITAL HOLDINGS LLC (35.6%), WELLS FARGO BANK, N.A (29.0%) AND BANK OF AMERICA, N.A. (12.0%) |
| U.S. RISK RETENTION : | JPMCB IS EXPECTED TO ACT AS THE "RETAINING SPONSOR" FOR THIS SECURITIZATION AND INTENDS TO SATISFY THE U.S. CREDIT RISK RETENTION REQUIREMENT THROUGH THE PURCHASE BY EIGHTFOLD REAL ESTATE CAPITAL FUND VI, L.P., A "THIRD-PARTY PURCHASER" OF AN "ELIGIBLE HORIZONTAL RESIDUAL INTEREST," WHICH WILL BE COMPRISED OF THE CLASS XERR, CLASS XFRR, CLASS XGRR, CLASS XJRR, CLASS E-RR, CLASS F-RR, CLASS G-RR AND CLASS J-RR CERTIFICATES. THE ESTIMATED FAIR VALUE OF THE CLASS XERR, CLASS XFRR, CLASS XGRR, CLASS XJRR, CLASS E-RR, CLASS F-RR, CLASS G-RR AND CLASS J-RR CERTIFICATES WILL BE EQUAL TO AT LEAST 5% OF THE ESTIMATED FAIR VALUE OF ALL OF THE CLASSES OF CERTIFICATES ISSUED BY THE TRUST. |
| EU RISK RETENTION : | THE TRANSACTION IS NOT STRUCTURED TO SATISFY THE EU RISK RETENTION AND DUE DILIGENCE REQUIREMENTS |
| MASTER SERVICER : | WELLS FARGO BANK, NATIONAL ASSOCIATION |
| SPECIAL SERVICER : | LNR PARTNERS, LLC |
| OPERATING ADVISOR : | PARK BRIDGE LENDER SERVICES LLC |
| ASSET REPRESENTATIONS REVIEWER : | PARK BRIDGE LENDER SERVICES LLC |
| DIRECTING CERTIFICATEHOLDER : | EIGHTFOLD REAL ESTATE CAPITAL FUND VI, L.P. |
| DOCUMENTS & TIMING | |
| ANTICIPATED PRICING : | ~11:45AM TODAY APRIL 19TH, 2024 |
| ANTICIPATED SETTLEMENT : | ON OR ABOUT MAY 6, 2024 |
| JPM SPG SYNDICATE CONTACTS | |
| JENNIFER KORNBLAU 212-834-4154 | |
| MORGAN ROACH 212-834-4154 | |
| JACQUELINE LARET 212-834-4154 | |
| KRISTEN ROSSI 212-834-4154 | |
| MICHAEL CASH 212-834-4154 | |
| JPM CMBS BANKING CONTACTS | |
| KUNAL SINGH 212-834-5467 | |
| HARRIS RENDELSTEIN 212-834-6737 | |
| RANDY GOLDSTEIN 212-270-2188 | |
| JPM CMBS TRADING DESK CONTACTS | |
| AVINASH SHARMA 212-834-3111 | |
| BRIAN CAREY 212-834-3111 | |
| DERRICK FETZER 212-834-3111 | |
| BOFA CMBS BANKING CONTACTS | |
| LELAND BUNCH 646-855-3953 | |
| DANIELLE CALDWELL 646-855-3421 | |
| MS CMBS SYNDICATE & STRUCTURING CONTACTS | |
| NISHANT KAPUR 212-761-1483 | |
| NEWLAND BALDWIN 212-761-7265 | |
| JAS SINGH 212-761-9099 | |
| MS CMBS BANKING CONTACTS | |
| JANE LAM 212-761-3507 | |
| JARED SMITH 212-761-3075 | |
| WELLS FARGO CMBS SYNDICATE CONTACTS | |
| CHRISTIE TINTLE 704-410-3008 | |
| DANIEL BOXER 704-410-3008 | |
| WELLS FARGO CMBS BANKING CONTACTS | |
| A.J. SFARRA 212-214-5613 | |
| BRIGID MATTINGLY 312-269-3062 | |
| SEAN DUFFY 312-827-1518 | |
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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 (800) 408-1016 or by emailing the ABS Syndicate Desk at [email protected]. You should not reply to this announcement. Any reply e-mail communications, including those you generate by using the "Reply" function on your e-mail software, will be ignored or rejected. This notice does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction where such offer or solicitation would be unlawful, and does not constitute an offer to sell or a solicitation of an offer to buy or an advertisement in respect of securities in any province or territory of Canada other than the provinces of Ontario, Quebec, Alberta, British Columbia, Nova Scotia and New Brunswick unless the issuer has securities listed or quoted on one of the exchanges or markets referred to in the definition of "OTC Issuer" in Multilateral Instrument 51-105. Any disclaimer or other notice that may appear below is not applicable to this communication and should be disregarded. Such disclaimer or notice was automatically generated as a result of this communication being sent by Bloomberg or another email system.