CSAIL 2021-C20 Commercial Mortgage Trust Form FWP Filed

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CSAIL 2021-C20 Commercial Mortgage Trust Form FWP Filed SECURITIES AND EXCHANGE COMMISSION FORM FWP Filing under Securities Act Rules 163/433 of free writing prospectuses Filing Date: 2021-03-15 SEC Accession No. 0001539497-21-000341 (HTML Version on secdatabase.com) SUBJECT COMPANY CSAIL 2021-C20 Commercial Mortgage Trust Mailing Address Business Address ELEVEN MADISON AVENUE ELEVEN MADISON AVENUE CIK:1832873| IRS No.: 000000000 | Fiscal Year End: 1231 NEW YORK NY 10010 NEW YORK NY 10010 Type: FWP | Act: 34 | File No.: 333-227081-06 | Film No.: 21741297 212-538-1807 SIC: 6189 Asset-backed securities FILED BY Credit Suisse Commercial Mortgage Securities Corp. Mailing Address Business Address ELEVEN MADISON AVENUE ELEVEN MADISON AVENUE CIK:1654060| IRS No.: 475115713 | State of Incorp.:DE | Fiscal Year End: 1231 NEW YORK NY 10010 NEW YORK NY 10010 Type: FWP 212-538-1807 SIC: 6189 Asset-backed securities Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document FREE WRITING PROSPECTUS FILED PURSUANT TO RULE 433 REGISTRATION FILE NO.: 333-227081-06 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document March 10, 2021 CSAIL 2021-C20 Commercial Mortgage Trust Free Writing Prospectus Collateral Term Sheet Credit Suisse Commercial Mortgage Securities Corp. as Depositor Commercial Mortgage Pass-Through Certificates Series 2021-C20 3650 REIT Column Financial, Inc. UBS AG German American Capital Corporation as Sponsors and Mortgage Loan Sellers Credit Suisse Deutsche Bank Securities UBS Securities LLC Co-Lead Managers and Joint Bookrunners Academy Securities Co-Manager THE DEPOSITOR HAS FILED A REGISTRATION STATEMENT (INCLUDING A PROSPECTUS) WITH THE SEC (SEC FILE NO. 333-227081) 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, CREDIT SUISSE WILL ARRANGE TO SEND YOU THE PROSPECTUS IF YOU REQUEST IT BY CALLING TOLL FREE 1-800-221-1037. Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document STATEMENT REGARDING ASSUMPTIONS AS TO SECURITIES, PRICING ESTIMATES AND OTHER INFORMATION This material is for your information, and neither Credit Suisse Securities (USA) LLC nor any other underwriter (collectively, the “Underwriters”) is soliciting any action based upon it. This material is not to be construed as an offer to sell or the solicitation of any offer to buy any security in any jurisdiction where such an offer or solicitation would be illegal. Neither this document nor anything contained herein shall form the basis for any contract or commitment whatsoever. The information contained herein is preliminary as of the date hereof. These materials are subject to change, completion or amendment from time to time. The information contained herein will be superseded by similar information delivered to you prior to the time of sale, including as part of the Preliminary Prospectus referred to herein relating to the CSAIL 2021-C20 Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates (the “Offering Document”). The information supersedes any such information previously delivered. The information should be reviewed only in conjunction with the entire Offering Document. All of the information contained herein is subject to the same limitations and qualifications contained in the Offering Document. The information contained herein does not contain all relevant information relating to the underlying mortgage loans or mortgaged properties. Such information is described elsewhere in the Offering Document. The information contained herein will be more fully described elsewhere in the Offering Document. The information contained herein should not be viewed as projections, forecasts, predictions or opinions with respect to value. Prior to making any investment decision, prospective investors are strongly urged to read the Offering Document in its entirety. Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this Free Writing Prospectus is truthful or complete. Any representation to the contrary is a criminal offense. 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 appropriateness of the assumptions used in preparing the Computational Materials, 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 the Underwriters nor any of their respective affiliates makes 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. This document contains forward-looking statements. Those statements are subject to certain risks and uncertainties that could cause the success of collections and the actual cash flow generated to differ materially from the information set forth herein. While such information reflects projections prepared in good faith based upon methods and data that are believed to be reasonable and accurate as of the dates thereof, the depositor undertakes no obligation to revise these forward- looking statements to reflect subsequent events or circumstances. Individuals should not place undue reliance on forward- looking statements and are advised to make their own independent analysis and determination with respect to the forecasted periods, which reflect the issuer’s view only as of the date hereof. IMPORTANT NOTICE RELATING TO AUTOMATICALLY GENERATED EMAIL DISCLAIMERS Any legends, disclaimers or other notices that may appear at the bottom of the 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 Copyright © 2021 www.secdatabase.com. All Rights Reserved. Please Consider the Environment Before Printing This Document representation being made 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. - 2 - Indicative Capital Structure Publicly Offered Certificates Approximate Initial Approximate Initial Available Expected Certificate Approximate Expected Underwritten Expected Ratings Certificate Certificate Weighted Principal Class Initial Credit Principal NOI Debt (Fitch/KBRA/Moody’s)(1) Balance or Notional Balance or Avg. Life to Value Support(4) Window(5) Yield(7) Amount(2)(3) Notional (years)(5) Ratio(6) Amount(2)(3) A-1 AAAsf/AAA(sf)/Aaa(sf) $8,269,000 $8,088,000 30.000% 3.42 1 - 60 40.2% 14.8% A-2(2) AAAsf/AAA(sf)/Aaa(sf) $200,000,000 $195,640,000 30.000% 8.80 100 - 108 40.2% 14.8% A-3(2) AAAsf/AAA(sf)/Aaa(sf) $232,759,000 $227,684,000 30.000% 9.65 108 - 120 40.2% 14.8% A- AAAsf/AAA(sf)/Aaa(sf) $14,038,000 $13,731,000 30.000% 6.71 60 - 100 40.2% 14.8% SB X-A(8) AAAsf/AAA(sf)/Aa1(sf) $514,387,000 $503,170,000 N/A N/A N/A N/A N/A X-B(8) A-sf/AAA(sf)/NR $55,258,000 $54,052,000 N/A N/A N/A N/A N/A A-S AAAsf/AAA(sf)/Aa3(sf) $59,321,000 $58,027,000 20.875% 9.96 120 - 120 45.5% 13.1% B AA-sf/AA-(sf)/NR $28,442,000 $27,821,000
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