Prospectus
A prospectus is the document filed with the in connection with a registered offering that provides material information about a security. In CMBS, the prospectus typically describes collateral, payment sequencing among classes, and treatment of defaults and prepayments.
- Where it applies
- Federal
- When it comes up
- Capital markets execution
- Property types
- Public securities offerings (including CMBS)
In practice
For transaction operators, mapping prospectus disclosure to data-room artifacts and servicing/reporting fields reduces post-close disputes.
Related terms
Institutional and Capital Markets
- Agency Securities
- Commercial Mortgage-Backed Securities (CMBS)
- Ginnie Mae Mortgage-Backed Securities (Ginnie Mae I)
- Master Servicing Fee
- Pooling and Servicing Agreement (PSA)
- Preliminary Prospectus ("Red")
- Private Label Securities (Non-Agency Securities)
- Private Placement
- Real Estate Investment Trust (REIT)
- Sub-Servicer
General information, not legal, tax or financial advice.