Form FWP Morgan Stanley Capital I Trust 2019-h6

Filing under Securities Act Rules 163/433 of free writing prospectuses

Published: 2019-05-29 15:06:29
Submitted: 2019-05-29
n1601_x7-newissue.htm FREE WRITING PROSPECTUS


ENT> FWP 1 n1601_x7-newissue.htm FREE WRITING PROSPECTUS

    FREE WRITING PROSPECTUS
    FILED PURSUANT TO RULE 433
    REGISTRATION FILE NO.: 333-227446-04
     

 

NEW ISSUE CMBS: $601.837mm Morgan Stanley Capital Trust 2019-H6


CO-LEAD MANAGERS & BOOKRUNNERS: Morgan Stanley and Cantor Fitzgerald & Co.

CO-MANAGER: Bancroft Capital, LLC

 

PUBLICLY OFFERED CERTIFICATES

    PRIN UW NOI
CLASS Fitch/KBRA/S&P SIZE($MM) WAL(YRS) CE% WINDOW DY% LTV%
A-1 AAAsf/AAA(sf)/AAA(sf) $18.000 2.76 30.000% 1-58 16.6% 40.7%
A-2 AAAsf/AAA(sf)/AAA(sf) $21.100 4.82 30.000% 58-58 16.6% 40.7%
A-SB AAAsf/AAA(sf)/AAA(sf) $27.300 7.28 30.000% 58-114 16.6% 40.7%
A-3* AAAsf/AAA(sf)/AAA(sf) $[140.000] [9.73] 30.000% [114-118] 16.6% 40.7%
A-4* AAAsf/AAA(sf)/AAA(sf) $[274.382] [9.86] 30.000% [118-119] 16.6% 40.7%
A-S AAAsf/AAA(sf)/AA(sf) $63.532 9.91 20.750% 119-119 14.6% 46.0%
B AA-sf/AA+(sf)/NR $26.615 9.91 16.875% 119-119 14.0% 48.3%
C A-sf/A(sf)/NR $30.908 9.91 12.375% 119-119 13.2% 50.9%

*Sizes subject to change as detailed in the attached Term Sheet.

Range of possible sizes below:

A-3: $90.000mm - $190.000mm

A-4: $224.382mm - $324.382mm

POOL BALANCE: $686,832,759
NUMBER OF LOANS/PROPERTIES: 46/255
WA MORTGAGE INT. RATE: 4.6047%
WA CUT-OFF LTV: 58.1%
WA UW NCF DSCR: 2.09x
WA UW NOI DEBT YLD: 11.6%
WA ORIG TERM TO MATURITY: 118
WA ORIG AMORTIZING TERM: 353
TEN LARGEST LOANS: 57.1%
LOAN SELLERS: MS (54.1%), AREF (16.8%), CCRE (14.8%), SMC (14.3%)
TOP 5 STATES: CA (34.8%), NY(11.6%), IL (9.1%), GA (6.0%), HI (5.8%)
TOP 5 PROPERTY TYPES: RT (29.4%), HS (21.9%), OF (21.6%), MF (11.1%), LF (5.5%)
   
RISK RETENTION An eligible horizontal residual interest equal to 5% of fair market value will be retained by KKR Real Estate Credit Opportunity Partners Aggregator I L.P. or an affiliate thereof.
   
MASTER SERVICER: Midland Loan Services, a Division of PNC Bank, National Association
SPECIAL SERVICER: Midland Loan Services, a Division of PNC Bank, National Association
TRUSTEE: Wells Fargo Bank, National Association
CERT ADMIN: Wells Fargo Bank, National Association
TRUST ADVISOR: Park Bridge Lender Services LLC
INITIAL CONTROLLING CLASS REP: KKR Real Estate Credit Opportunity Partners Aggregator I L.P. or an affiliate thereof
   
HARTFORD BREAKFAST: Wednesday, May 29, 8:00am EST: Max’s on Asylum
BOSTON MEETING: Wednesday, May 29, 12:00pm EST: Ritz Carlton Downtown Boston
MINNEAPOLIS BREAKFAST Thursday, May 30, 7:30am EST: The Grand Hotel
   
EXPECTED PRICING: Week of 6/3
EXPECTED SETTLEMENT: On or about 6/19/19
   
ATTACHED: TERM SHEET, ANNEX A-1

 

*** The depositor has filed a registration statement (including a prospectus) with the SEC (File # 333-227446) for the offering to which this free writing prospectus 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 sec.report. Alternatively, the depositor, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll free 1-866-718-1649 or by email to prospectus@ms.com. ***

 

**** IMPORTANT NOTICE REGARDING THE CONDITIONS FOR THIS OFFERING OF ASSET-BACKED SECURITIES
THE ASSET-BACKED SECURITIES REFERRED TO IN THESE MATERIALS ARE BEING OFFERED WHEN, AS AND IF ISSUED. IN PARTICULAR, YOU ARE ADVISED THAT ASSET-BACKED SECURITIES, AND THE ASSET POOLS BACKING THEM, ARE SUBJECT TO MODIFICATION OR REVISION (INCLUDING, AMONG OTHER THINGS, THE POSSIBILITY THAT ONE OR MORE CLASSES OF SECURITIES MAY BE SPLIT, COMBINED OR ELIMINATED) AT ANY TIME PRIOR TO ISSUANCE OR AVAILABILITY OF A FINAL OFFERING DOCUMENT. AS A RESULT, YOU MAY COMMIT TO PURCHASE SECURITIES THAT HAVE CHARACTERISTICS THAT MAY CHANGE, AND YOU ARE ADVISED THAT ALL OR A PORTION OF THE SECURITIES MAY NOT BE ISSUED THAT HAVE THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. OUR OBLIGATION TO SELL SECURITIES TO YOU IS CONDITIONED ON THE SECURITIES AND THE UNDERLYING TRANSACTION HAVING THE CHARACTERISTICS DESCRIBED IN THESE MATERIALS. IF WE DETERMINE THAT CONDITION IS NOT SATISFIED IN ANY MATERIAL RESPECT, WE WILL NOTIFY YOU, AND NEITHER THE ISSUING ENTITY OR ANY UNDERWRITER WILL HAVE ANY OBLIGATION TO YOU TO DELIVER ALL OR ANY PORTION OF THE SECURITIES WHICH YOU HAVE COMMITTED TO PURCHASE, AND THERE WILL BE NO LIABILITY BETWEEN US AS A CONSEQUENCE OF THE NON-DELIVERY. ****

 

**** IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS
ANY LEGENDS, DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR AT THE BOTTOM OF THIS E-MAIL OR AT THE BOTTOM OF THE E-MAIL COMMUNICATION TO WHICH THIS MATERIAL MAY HAVE BEEN ATTACHED 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 EMAIL SYSTEM. ****

 

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Additional Files
FileSequenceDescriptionTypeSize
0001539497-19-000856.txt   Complete submission text file   19569

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