GS/Citi/Jefferies $1.1B CMBS Deal Priced

Goldman Sachs, Citigroup and Jefferiespriced the $1.1 billion CMBS deal called GS Mortgage Securities Trust 2013-GCJ12.

The class A-1, triple-A notes, structured with an average life maturity of 2.54 years priced at 30 basis points over Swaps. The class A-2, triple-A notes structured with an average life maturity of 4.83- years priced at 47 basis points.

The triple-A, class A-4 notes offered with an average life maturity of 9.89 years priced at 82 basis points; and the A-AB, triple-A notes structured with an average life maturity of 7.27 years, priced at 75 basis points.

The capital structure will also include 9.94-year, A-S notes, rated triple-A, priced at 105 basis points. The 9.94-year, double-A minus B notes priced at 145 basis points and the 9.94-year single-A minus, C notes priced at 185 basis points.

Pricing fall roughly in line with the last conduit to come to market earlier this month, JP Morgan Chaseís JPMCC 2013-LC1. The capital structure offered $921 million in AAA notes. The three-year, triple-A, A-1 notes priced at 32 basis points; the 4.9-year, triple-A, A2 notes priced at 42 basis points; the 9.89-year, triple-A, A-5 notes priced at 82 basis points.; and the triple-A, 7.33-year, A-SB tranche priced at 77 basis points.

The longer-dated 9.92-year, triple-A, A-S notes priced at 107 basis points. Lower down the credit curve pricing for JP Morganís 9.92-year double-A minus B notes came in at 135 basis points and the 9.96-year, single-A minus C notes priced at 180 basis points.