SUPERCEDES PRELIMINARY PROSPECTUS SUPPLEMENT DATED OCTOBER 17, 2000
WITH REGARD TO CERTIFICATE BALANCES.
DLJ COMMERCIAL MORTGAGE CORP.
COMMERCIAL MORTGAGE PASS-THROUGH CERTIFICATES,
SERIES 2000-CKP1
$1,181,052,000
(APPROXIMATE)
OFFERED CERTIFICATES
[Logo]
COLUMN
FINANCIAL
[Logo]
KEY BANK
[Logo]
PRUDENTIAL
PRUDENTIAL SECURITIES DONALDSON, LUFKIN & JENRETTE
Credit Suisse First Boston McDonald Investments Salomon Smith Barney
a KeyCorp Company
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
<PAGE>
DLJCMC SERIES 2000-CKP1 OCTOBER 23, 2000
COLLATERAL AND STRUCTURAL TERM SHEET
TRANSACTION OFFERINGS:
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------------------
PERCENTAGE
INITIAL OF INITIAL INITIAL
AGGREGATE MORTGAGE PASS- WTD.
PRINCIPAL POOL CREDIT THROUGH AVG. PRINCIPAL
CLASS RATINGS(1) BALANCE BALANCE SUPPORT RATE(2) LIFE(3) MATURITY(3) WINDOW(3) LEGAL STATUS ERISA (4)
----- ------- ------- ---------- ------- --------- ---- -------- ------ ------------ -----
Publicly Offered Certificates:
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
A-1A Aaa/AAA $ 210,537,000 16.31% 22.50% % 5.7 8/09 12/00-8/09 Public Yes
A-1B Aaa/AAA $789,808,000 61.19% 22.50% % 9.6 8/10 8/09-8/10 Public Yes
A-2 Aa2/AA $51,631,000 4.00% 18.50% % 9.8 9/10 8/10-9/10 Public No
A-3 A2/A $58,084,000 4.50% 14.00% % 9.8 9/10 9/10-9/10 Public No
A-4 A3/A- $16,135,000 1.25% 12.75% % 9.8 9/10 9/10-9/10 Public No
B-1 Baa1/BBB+ $16,134,000 1.25% 11.50% % 9.9 10/10 9/10-10/10 Public No
B-2 Baa2/BBB $25,816,000 2.00% 9.50% % 9.9 10/10 10/10-10/10 Public No
B-3 Baa3/BBB- $12,907,000 1.000% 8.50% % 9.9 10/10 10/10-10/10 Public No
Privately Offered Certificates(5):
S -- -- -- -- -- -- -- -- Private-144A --
B-4 -- -- -- -- -- -- -- -- Private-144A --
B-5 -- -- -- -- -- -- -- -- Private-144A --
B-6 -- -- -- -- -- -- -- -- Private-144A --
B-7 -- -- -- -- -- -- -- -- Private-144A --
B-8 -- -- -- -- -- -- -- -- Private-144A --
B-9 -- -- -- -- -- -- -- -- Private-144A --
C -- -- -- -- -- -- -- -- Private-144A --
-----------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) Moody's Investors Service, Inc. / Fitch, Inc.
(2) Classes _, _ and _ will be fixed rate. Classes _, _ and _ will be fixed
subject to the net WAC of the pool.
(3) Assumes 0% CPR, no defaults, no extensions and ARD Loans pay in full on
their anticipated repayment dates. Otherwise based on "Maturity
Assumptions" set forth in the prospectus supplement. Expressed in years.
(4) Expected to be eligible for each of the Underwriters' individual prohibited
transaction, if any, exemption under ERISA.
(5) Not offered herein. Classes B-4, B-5, B-6, B-7, B-8, B-9 and C have been
previously placed. Class S is being marketed privately. Privately offered
certificates will also include a class D and class R, neither of which has
a principal balance or accrues interest.
--------------------------------------------------------------------------------
Originator Profile:
------------------
94 of the mortgage loans, representing 40.2% of the initial mortgage pool
balance, were originated or acquired by Column Financial, Inc. ("Column").
Column was established in August 1993 and is an indirect wholly owned subsidiary
of Donaldson, Lufkin & Jenrette, Inc. (which has announced its agreement to be
acquired by Credit Suisse First Boston Group). Column has originated more than
2,100 commercial mortgage loans, totaling approximately $11.0 billion, since its
inception. Column sources, underwrites and closes various mortgage loan products
through 18 production offices located throughout the country. All of the Column
mortgage loans in this transaction were originated or acquired between 1998 and
2000.
86 of the mortgage loans, representing 28.5% of the initial mortgage pool
balance, were originated or acquired by KeyBank National Association
("KeyBank"). KeyBank, a wholly owned subsidiary of KeyCorp, is a national
banking association. KeyBank, headquartered in Cleveland, OH, provides financial
services, including commercial and multifamily real estate financing, throughout
the United States. As of June 30, 2000, KeyBank had total assets of
approximately $75.9 billion, total liabilities of approximately $69.7 billion
and approximately $6.2 billion in stockholder's equity. For the same period, Key
Commercial Real Estate, a division of KeyBank, had total assets of approximately
$7.8 billion comprised of construction and interim loans, CMBS investments, and
conduit and other fixed rate permanent loans. Key Commercial Mortgage, a
division of Key Commercial Real Estate, has originated over $2.6 billion in
commercial mortgage loans since its inception and has a current servicing
portfolio of $ 6.3 billion.
52 of the mortgage loans, representing 31.4% of the initial mortgage pool
balance, were acquired by Prudential Mortgage Capital Funding, LLC ("PMCF")
which acquired those mortgage loans from Prudential Mortgage Capital Company,
LLC ("PMCC"). PMCC originated 51 of those mortgage loans and acquired 1 mortgage
loan representing 3.9% of the initial mortgage pool balance from Capital Lease
Funding, L.P. PMCC, an indirect wholly owned subsidiary of The Prudential
Insurance Company of America, was established in August 1997. PMCC has
originated more than 300 commercial mortgage loans totaling approximately $2.83
billion since its inception. PMCC sources, underwrites and closes various
mortgage loan products through production offices in Atlanta, GA, Newark, NJ,
San Francisco, CA and Chicago, IL.
--------------------------------------------------------------------------------
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
COLLATERAL OVERVIEW:
<S> <C>
o Initial Mortgage Pool Balance: $1,290,768,164
o Average Cut-off Date
Principal Balance: $5,563,656
o Loans/Properties: 232 loans / 244 properties
o Property Type: Retail (30.8%), Multifamily (30.3%), Office (25.3%), Other (13.6%)
o Geographic Distribution: 40 States and the District of Columbia. CA (14.6%; South 10.3%/North 4.3%),
TX (12.4%), NY (9.5%), Other (63.5%)
o Amortization Types: Balloon (72.1%), ARD (23.8%), Fully Amortizing (4.1%)
o Wtd. Avg. U/W DSCR: 1.38x
o Wtd. Avg. Cut-off Date
LTV Ratio: 68.5%
o Appraisals: 100% of the appraisals state that they follow the guidelines set forth in Title XI of
FIRREA.
o Largest Loan: 6.8%
o Five Largest Loans: 20.6%
o Ten Largest Loans: 31.4%
o Wtd. Avg. Remaining
Term to Maturity(1): 117 months
o Wtd. Avg. Seasoning: 5 months
o Gross WAC: 8.297%
o Call Protection: All of the mortgage loans provide for either a prepayment lockout period
("Lockout"), a defeasance period ("Defeasance"), a yield maintenance premium
("YMP") period, a prepayment premium ("PP") period or a combination thereof.
o Defeasance: 86.8%
o Credit Tenant Lease: None
o Participation Loans: None
</TABLE>
(1) In the case of ARD Loans, the anticipated repayment date is assumed to be
the maturity date for the purpose of this analysis.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 3
<PAGE>
<TABLE>
<CAPTION>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
COLLATERAL OVERVIEW (CONTINUED):
<S> <C>
o Loans with
Secured Subordinate Debt: 5.5%
o Leasehold: 13.0%
o Delinquency: None of the mortgage loans will be 30 days or more delinquent with respect to
any monthly debt service payment as of November 1, 2000 or at any time during
the 12-month period preceding that date.
TRANSACTION OVERVIEW:
o Structure: Senior/subordinated, sequential pay pass-through certificates.
o Co-Lead Managers: Donaldson, Lufkin & Jenrette Securities Corporation(1) and Prudential Securities
Incorporated
o Co-Managers: Credit Suisse First Boston Corporation, McDonald Investments Inc. and
Salomon Smith Barney Inc.
o Mortgage Loan Sellers: Column Financial, Inc., KeyBank National Association and Prudential Mortgage
Capital Funding, LLC ("PMCF")
o Rating Agencies: Moody's Investors Service, Inc. / Fitch, Inc.
o Master Servicer and
Special Sub-Servicer: Key Corporate Capital Inc. d/b/a Key Commercial Mortgage
o Special Servicer: Midland Loan Services, Inc.
o Trustee: Wells Fargo Bank Minnesota, N.A.
o Cut-off Date: November 1, 2000
o Settlement Date: On or about November 1, 2000
o Payment Date: The 10th day of the month, or if such day is not a business day, the following
business day, but no sooner than the 4th business day after the 4th day of the
month.
</TABLE>
(1) In connection with the announced acquisition of Donaldson Lufkin &
Jenrette, Inc. by the Credit Suisse First Boston, Inc., to the extent
required or permitted under applicable law or regulation, Donaldson Lufkin
& Jenrette Securities Corporation may act through or in conjunction with
Credit Suisse First Boston, Inc. in performing certain of its duties
relating hereto.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 4
<PAGE>
<TABLE>
<CAPTION>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
TRANSACTION OVERVIEW (CONTINUED):
<S> <C>
o Delivery: The Depository Trust Company ("DTC") through Cede & Co. (in the United States)
or Clearstream Banking, societe' anonyme' or The Euroclear System (in Europe).
o ERISA: Classes A-1A, A-1B and S are expected to be eligible for each of the
underwriters' individual prohibited transaction exemptions with respect to
ERISA, subject to certain conditions of eligibility.
o Tax Treatment: REMIC
o Servicer Option to
Terminate Trust: 1%
o Analytics: Cashflows are expected to be available through Bloomberg, the Trepp Group, Intex
Solutions and Charter Research.
o Extensions: The special servicer will be responsible for performing various functions with
respect to mortgage loans in the trust that, in general, are in default or as to
which default is imminent, and for administering any REO properties. The pooling
and servicing agreement will generally permit the special servicer to modify,
waive or amend any term of any mortgage loan if it determines, in accordance
with the servicing standard, that it is appropriate to do so. The special
servicer will not be permitted to grant any extension of the maturity of a
mortgage loan beyond 60 months after its stated maturity date.
o Controlling Class: The controlling class may through a representative advise, appoint and replace
the special servicer. In general, the controlling class will be the most
subordinate class of certificates which has a current total principal balance no
less than 25% of its original total principal balance.
o Advances: The master servicer will be obligated to make advances of scheduled principal
and interest payments, excluding balloon payments, subject to recoverability
determination and appraisal reductions. If the master servicer fails to make a
required P & I advance and the trustee is aware of the failure, the trustee will
be obligated to make that advance.
o Appraisal Reductions: In general, an Appraisal Reduction Amount will be the amount, if any, by which
the unpaid principal balance of a specially serviced mortgage loan, plus other
amounts overdue in connection with that loan, exceeds 90% of the appraised value
of the related mortgaged real property. Any resulting Appraisal Reduction Amount
will reduce proportionately the interest portion, but not the principal portion,
of any amount of P&I advances for the loan, which reduction will likely result
in a reduction of interest distributable to the most subordinate
interest-bearing class of series 2000-CKP1 certificates outstanding. In general,
an Appraisal Reduction Amount will be reduced to zero as of the date the related
mortgage loan has been brought current for at least three consecutive months,
paid in full, liquidated, repurchased, or otherwise disposed of. Appraisal
Reduction Amounts will not effect class sizes for the purposes of determining
the series 2000-CKP1 controlling class.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 5
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
STRUCTURE DESCRIPTION:
[GRAPHICS]
Based on the "Maturity Assumptions" set forth in the Prospectus Supplement and a
0% CPR (except ARD Loans paid in full on their respective anticipated repayment
dates).
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 6
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
INTEREST DISTRIBUTIONS:
Each interest-bearing class of series 2000-CKP1 certificates will be entitled on
each payment date to interest accrued at its pass-through rate on the total
principal balance or notional amount of that class outstanding immediately prior
to the related payment date. All classes will pay interest on a 30/360 basis.
PRINCIPAL DISTRIBUTIONS:
Available principal will be paid on each payment date to the following classes
of series 2000-CKP1 certificates in the following sequential order: class A-1A,
A-1B, A-2, A-3, A-4, B-1, B-2, B-3, B-4, B-5, B-6, B-7, B-8, B-9 and C (the
"Principal Balance Certificates"). However, if classes A-2 through C have been
retired as a result of losses and additional trust fund expenses, classes A-1A
and A-1B will receive principal on a pro-rata basis.
REALIZED LOSSES AND EXPENSES:
Realized losses from any mortgage loan in the trust and additional trust fund
expenses will be allocated to the outstanding classes of Principal Balance
Certificates in the following sequential order: class C, B-9, B-8, B-7, B-6,
B-5, B-4, B-3, B-2, B-1, A-4, A-3 and A-2. If Classes A-2 through C have been
reduced to $0 by losses and additional trust fund expenses, future losses and
additional trust fund expenses shall be applied to classes A-1A and A-1B
pro-rata.
CREDIT ENHANCEMENTS:
Credit enhancement for each class of publicly registered certificates of series
2000-CKP1 will be provided by the classes of series 2000-CKP1 certificates which
are subordinate in priority with respect to payments of interest and principal.
ALLOCATION OF YIELD MAINTENANCE AND PERCENTAGE PREPAYMENT PREMIUMS:
In the case of most mortgage loans that provide for the payment of prepayment
consideration in connection with a voluntary prepayment, that prepayment
consideration will generally equal:
o an amount calculated pursuant to a yield maintenance formula (a "Yield
Maintenance Premium Amount");
o the greater of (i) a Yield Maintenance Premium Amount and (ii) an amount
equal to either a specified dollar amount or a percentage of the subject
prepayment (a "Yield Maintenance Minimum Amount"); or
o an amount equal to a percentage of the subject prepayment, which percentage
may decline over time (a "Percentage Prepayment Premium Amount").
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 7
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
ALLOCATION OF YIELD MAINTENANCE AND PERCENTAGE PREPAYMENT PREMIUMS (CONTINUED):
Any Yield Maintenance Premium Amount collected will be distributed to the
publicly class S certificates and the offered classes of the series 2000-CKP1
certificates as follows:
o the holders of each class of the class A-1A, A-1B, A-2, A-3, A-4, B-1, B-2
and B-3 certificates (the "Premium P&I Certificates") then entitled to
receive payments of principal will be entitled to receive a portion of such
Yield Maintenance Premium Amount equal to the product of (i) the entire
Yield Maintenance Premium Amount, multiplied by (ii) a fraction (not
greater than one or less than zero), the numerator of which is equal to the
pass-through rate for that class minus a discount rate based on then
current U.S. Treasury rates, and the denominator rate of which is equal to
the mortgage interest rate for the prepaid mortgage loan minus that same
discount rate, multiplied by (iii) a fraction (not greater than one or less
than zero), the numerator of which is the amount of principal payments to
which that class is then entitled, and the denominator of which is equal to
the total principal payments then payable with respect to all the series
2000-CKP1 certificates; and
o the holders of the class S certificates will be entitled to the remaining
portion of such Yield Maintenance Premium Amount.
Any Yield Maintenance Minimum Amount collected on the mortgage loans will be
distributed entirely to the holders of the class S certificates.
25% of any Percentage Prepayment Premium Amount collected on the mortgage loans
will be distributed among those classes of Premium P&I Certificates then
entitled to payments of principal, on a pro-rata basis in accordance with the
respective amounts of principal then payable on each of those classes. The
entire remaining amount of such Percentage Prepayment Premium Amount will be
distributed to the holders of the class S certificates.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 8
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
STRATIFICATION:
[DEPICTION OF US MAP HERE]
MORTGAGED REAL PROPERTIES BY STATE
<TABLE>
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
STATE PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
California 18 $ 188,200,224 14.6% 8.076% 1.32x 69.4%
Texas 40 159,932,981 12.4% 8.526% 1.27 74.3%
New York 15 122,968,157 9.5% 8.599% 1.64 52.6%
Florida 16 67,146,580 5.2% 8.233% 1.38 68.0%
New Jersey 6 66,043,922 5.1% 8.099% 1.51 58.6%
Colorado 10 52,273,853 4.0% 8.108% 1.30 73.8%
Ohio 13 52,089,788 4.0% 8.365% 1.27 72.7%
Delaware 1 50,909,381 3.9% 6.810% 2.41 40.7%
Utah 5 46,253,523 3.6% 8.405% 1.29 76.2%
Virginia 4 45,907,613 3.6% 8.489% 1.35 70.8%
Michigan 10 35,362,012 2.7% 8.258% 1.24 73.1%
Massachusetts 4 35,171,289 2.7% 8.430% 1.21 76.2%
Louisiana 3 31,421,728 2.4% 8.407% 1.23 75.2%
Connecticut 11 31,031,050 2.4% 8.387% 1.24 78.2%
Arizona 10 30,957,930 2.4% 8.542% 1.30 73.2%
Washington 4 27,820,551 2.2% 8.588% 1.28 67.9%
Oklahoma 4 25,880,057 2.0% 8.304% 1.33 77.0%
Georgia 8 25,444,568 2.0% 8.498% 1.28 74.6%
Pennsylvania 12 22,819,796 1.8% 8.563% 1.26 75.6%
Illinois 5 19,451,298 1.5% 8.331% 1.31 74.5%
Indiana 8 16,675,658 1.3% 8.650% 1.27 73.1%
Minnesota 5 14,622,356 1.1% 8.600% 1.31 68.6%
Maine 2 12,923,718 1.0% 8.350% 1.41 68.4%
District of Columbia 1 12,534,362 1.0% 8.270% 1.29 61.4%
Nevada 1 11,587,542 0.9% 8.170% 1.31 78.6%
Wisconsin 5 11,261,357 0.9% 8.680% 1.34 69.1%
South Carolina 1 9,882,379 0.8% 8.420% 1.20 74.9%
North Carolina 2 9,635,401 0.7% 8.608% 1.40 69.9%
Tennessee 2 8,322,126 0.6% 8.319% 1.31 77.8%
Missouri 3 8,149,863 0.6% 8.285% 1.30 74.2%
Oregon 2 7,120,387 0.6% 8.343% 1.22 69.9%
Maryland 2 5,589,164 0.4% 8.535% 1.45 66.5%
Mississippi 3 5,297,751 0.4% 8.150% 1.34 72.1%
Kansas 1 4,988,040 0.4% 8.450% 1.33 54.8%
Kentucky 1 3,814,844 0.3% 8.130% 1.47 74.8%
Montana 1 3,169,044 0.2% 7.500% 1.54 68.2%
Alabama 1 3,123,994 0.2% 7.680% 1.22 55.3%
New Mexico 1 1,716,093 0.1% 8.620% 1.39 79.8%
North Dakota 1 1,477,856 0.1% 8.280% 1.26 44.2%
Alaska 1 1,386,265 0.1% 8.900% 1.20 66.8%
Nebraska 1 403,665 0.0% 9.590% 1.33 74.8%
-----------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AV 244 $1,290,768,164 100.0% 8.297% 1.38X 68.5%
=================================================================================================================
</TABLE>
--------------------------------------------------------------------------------
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 9
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
[DEPICTION OF PIE CHART HERE]
Mixed Use 1.6%
Industrial 3.9%
Hotel 4.3%
Office 25.3%
Multifamily 30.3%
Retail 30.8%
Other 3.9%
<TABLE>
<CAPTION>
MORTGAGED REAL PROPERTIES BY PROPERTY TYPE
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
PROPERTY TYPE PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Retail 76 $ 397,422,214 30.8% 8.174% 1.28x 73.3%
Multifamily 90 391,574,144 30.3% 8.335% 1.30 73.1%
Office 32 326,064,543 25.3% 8.311% 1.61 56.9%
Hotel 8 55,330,859 4.3% 8.427% 1.52 60.6%
Industrial 10 49,700,687 3.9% 8.377% 1.27 74.9%
Mixed Use 9 20,289,777 1.6% 8.595% 1.28 67.9%
Manufactured Housing 7 17,143,349 1.3% 8.415% 1.29 75.8%
Self Storage 8 12,306,673 1.0% 8.675% 1.47 63.3%
Independent/Assisted Living 1 12,151,936 0.9% 8.900% 1.43 74.8%
Health Care 3 8,783,983 0.7% 8.114% 1.50 71.0%
-------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 244 $1,290,768,164 100.0% 8.297% 1.38X 68.5%
=========================================================================================================
</TABLE>
<TABLE>
<CAPTION>
MORTGAGED REAL PROPERTIES BY PROPERTY SUB-TYPE
Weighted
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
PROPERTY TYPE PROPERTY SUB-TYPE PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
Retail
<S> <C> <C> <C> <C> <C> <C> <C>
Anchored (1) 48 $ 350,202,326 27.1% 8.120% 1.27x 74.1%
Unanchored 28 47,219,888 3.7% 8.577% 1.35 67.4%
---------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 76 $ 397,422,214 30.8% 8.174% 1.28x 73.3%
=============================================================================================
(1) Includes shadow anchored properties.
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 10
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
ORIGINAL AMORTIZATION TERMS
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
ORIGINAL AMORTIZATION MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
TERMS (MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
152 - 290 10 $ 81,413,722 6.3% 7.248% 2.07x 46.1%
291 - 300 59 193,255,770 15.0% 8.424% 1.46 62.9%
301 - 360 163 1,016,098,672 78.7% 8.357% 1.31 71.3%
------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38X 68.5%
====================================================================================
</TABLE>
MAXIMUM ORIGINAL AMORTIZATION TERM (MONTHS): 360
MINIMUM ORIGINAL AMORTIZATION TERM (MONTHS): 152
WTD. AVG. ORIGINAL AMORTIZATION TERM (MONTHS): 338
<TABLE>
<CAPTION>
ORIGINAL TERMS TO STATED MATURITY (1)
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
ORIGINAL TERMS MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
TO STATED MATURITY (MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
60 - 100 4 $ 32,789,432 2.5% 7.874% 1.64x 56.1%
101 - 120 217 1,117,612,969 86.6% 8.424% 1.34 69.8%
121 - 240 11 140,365,764 10.9% 7.387% 1.68 60.5%
----------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38X 68.5%
==============================================================================================
</TABLE>
MAXIMUM ORIGINAL TERM TO STATED MATURITY (MONTHS): 240
MINIMUM ORIGINAL TERM TO STATED MATURITY (MONTHS): 60
WTD. AVG. ORIGINAL TERM TO STATED MATURITY (MONTHS): 122
(1) IN THE CASE OF ARD LOANS, THE ANTICIPATED REPAYMENT DATE IS ASSUMED TO BE
THE MATURITY DATE FOR THE PURPOSES OF THE FOREGOING TABLE.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 11
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
REMAINING AMORTIZATION TERMS
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REMAINING AMORTIZATION MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
TERMS (MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
151 - 290 19 $ 100,570,815 7.8% 7.381% 1.96x 48.4%
291 - 350 66 323,441,636 25.1% 8.161% 1.38 67.6%
351 - 360 147 866,755,713 67.2% 8.454% 1.32 71.1%
--------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38X 68.5%
==================================================================================================
</TABLE>
MAXIMUM REMAINING AMORTIZATION TERM (MONTHS): 360
MINIMUM REMAINING AMORTIZATION TERM (MONTHS): 151
WTD. AVG. REMAINING AMORTIZATION TERM (MONTHS): 333
<TABLE>
<CAPTION>
REMAINING TERMS TO STATED MATURITY (1)
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
RANGE OF UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
REMAINING TERMS MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
TO STATED MATURITY (MONTHS) LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
40 - 99 6 $ 39,067,314 3.0% 7.829% 1.61x 56.8%
100 - 120 216 1,125,295,384 87.2% 8.428% 1.34 70.0%
121 - 239 10 126,405,467 9.8% 7.276% 1.73 58.6%
-------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38x 68.5%
=================================================================================================
</TABLE>
MAXIMUM REMAINING TERM TO STATED MATURITY (MONTHS): 239
MINIMUM REMAINING TERM TO STATED MATURITY (MONTHS): 40
WTD. AVG. REMAINING TERM TO STATED MATURITY (MONTHS): 117
(1) IN THE CASE OF ARD LOANS, THE ANTICIPATED REPAYMENT DATE IS ASSUMED TO BE
THE MATURITY DATE FOR THE PURPOSES OF THE FOREGOING TABLE.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 12
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
UNDERWRITTEN DEBT SERVICE COVERAGE RATIOS
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RANGE OF MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
U/W DSCRS LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1.16x - 1.19 4 $ 32,499,958 2.5% 8.404% 1.18x 78.3%
1.20 - 1.22 44 250,668,765 19.4% 8.466% 1.21 75.4%
1.23 - 1.25 44 260,361,664 20.2% 8.356% 1.24 75.6%
1.26 - 1.29 43 187,659,636 14.5% 8.110% 1.27 72.7%
1.30 - 1.39 52 236,446,236 18.3% 8.392% 1.34 70.7%
1.40 - 1.49 21 84,275,854 6.5% 8.630% 1.43 68.5%
1.50 - 1.70 16 70,633,774 5.5% 8.137% 1.60 53.9%
1.71 - 2.77x 8 168,222,277 13.0% 7.909% 1.98 43.3%
------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38x 68.5%
================================================================================================
</TABLE>
MAXIMUM U/W DSCR: 2.77x
MINIMUM U/W DSCR: 1.16x
WTD. AVG. U/W DSCR: 1.38x
<TABLE>
<CAPTION>
CUT-OFF DATE LOAN-TO-VALUE RATIOS
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RANGE OF CUT-OFF DATE MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
LOAN-TO-VALUE RATIOS LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
40.10% - 55.00% 15 $ 221,926,430 17.2% 7.961% 1.88x 44.6%
55.10% - 65.00% 31 128,677,636 10.0% 8.551% 1.37 60.3%
65.10% - 67.50% 15 32,863,535 2.5% 8.382% 1.34 66.4%
67.60% - 70.00% 25 76,022,795 5.9% 8.536% 1.31 68.9%
70.10% - 72.50% 21 79,692,672 6.2% 8.556% 1.27 71.3%
72.60% - 75.00% 45 221,961,570 17.2% 8.117% 1.29 73.8%
75.10% - 77.50% 27 237,060,456 18.4% 8.482% 1.24 76.6%
77.60% - 78.50% 17 105,841,020 8.2% 8.294% 1.27 78.0%
78.60% - 79.50% 16 107,885,241 8.4% 8.304% 1.27 79.0%
79.60% - 80.00% 19 75,928,908 5.9% 8.241% 1.23 79.9%
80.10% - 80.80% 1 2,907,902 0.2% 8.380% 1.16 80.8%
--------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38x 68.5%
============================================================================================
</TABLE>
MAXIMUM CUT-OFF DATE LTV RATIO: 80.8%
MINIMUM CUT-OFF DATE LTV RATIO: 40.1%
WTD. AVG. CUT-OFF DATE LTV RATIO: 68.5%
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 13
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
CUT-OFF DATE PRINCIPAL BALANCES
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RANGE OF CUT-OFF DATE MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
PRINCIPAL BALANCES LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
$ 230,842 - 500,000 8 $ 2,955,007 0.2% 8.848% 1.35x 72.0%
500,001 - 750,000 14 8,337,909 0.6% 8.823% 1.33 71.1%
750,001 - 1,000,000 10 8,968,894 0.7% 8.731% 1.35 66.6%
1,000,001 - 1,250,000 17 18,974,109 1.5% 8.736% 1.32 72.4%
1,250,001 - 1,500,000 16 22,438,876 1.7% 8.621% 1.37 66.9%
1,500,001 - 1,750,000 8 13,068,391 1.0% 8.612% 1.33 71.6%
1,750,001 - 2,000,000 20 37,272,210 2.9% 8.583% 1.30 70.7%
2,000,001 - 3,000,000 30 74,231,642 5.8% 8.411% 1.30 71.0%
3,000,001 - 4,000,000 25 87,599,577 6.8% 8.396% 1.29 71.2%
4,000,001 - 5,000,000 13 58,043,231 4.5% 8.340% 1.38 69.0%
5,000,001 - 6,000,000 17 93,015,314 7.2% 8.475% 1.32 71.0%
6,000,001 - 8,500,000 12 85,772,101 6.6% 8.351% 1.34 70.0%
8,500,001 - 9,500,000 6 53,767,165 4.2% 8.196% 1.26 76.6%
9,500,001 - 10,000,000 6 58,539,725 4.5% 8.406% 1.30 77.2%
10,000,001 - 11,250,000 5 51,917,676 4.0% 8.318% 1.25 74.4%
11,250,001 - 12,000,000 4 46,240,167 3.6% 8.098% 1.42 67.7%
12,000,001 - 19,500,000 10 138,416,199 10.7% 8.380% 1.28 72.7%
19,500,001 - 34,500,000 6 164,783,680 12.8% 8.256% 1.33 71.7%
34,500,001 - $87,301,842 5 266,426,293 20.6% 8.002% 1.65 55.9%
----------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38x 68.5%
========================================================================================
</TABLE>
MAXIMUM CUT-OFF DATE PRINCIPAL BALANCE: $87,301,843
MINIMUM CUT-OFF DATE PRINCIPAL BALANCE: $ 230,842
WTD. AVG. CUT-OFF DATE PRINCIPAL BALANCE: $ 5,563,656
<TABLE>
UNDERLYING MORTGAGE LOANS BY AMORTIZATION TYPE
<CAPTION>
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
LOAN TYPE LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
----------------------- -----------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Balloon 193 $ 930,114,487 72.1% 8.443% 1.36x 69.0%
ARD 37 307,347,568 23.8% 8.102% 1.30 71.4%
Fully Amortizing 2 53,306,109 4.1% 6.885% 2.37 41.9%
-----------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $ 1,290,768,164 100.0% 8.297% 1.38x 68.5%
=====================================================================================================
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 14
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
MORTGAGE INTEREST RATES
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
UNDERLYING CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RANGE OF MORTGAGE PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
MORTGAGE INTEREST RATES LOANS BALANCE BALANCE RATES U/W DSCR LTV RATIO
-------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
6.810% - 7.750% 9 $ 155,863,591 12.1% 7.197% 1.72x 58.5%
7.751% - 8.000% 6 29,999,333 2.3% 7.974% 1.52 62.1%
8.001% - 8.250% 36 282,161,329 21.9% 8.118% 1.32 73.0%
8.251% - 8.500% 71 315,280,601 24.4% 8.364% 1.28 72.7%
8.501% - 8.750% 61 359,204,486 27.8% 8.622% 1.39 64.6%
8.751% - 9.000% 31 105,768,440 8.2% 8.841% 1.34 72.1%
9.001% - 9.590% 18 42,490,383 3.3% 9.158% 1.30 71.3%
-------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.297% 1.38x 68.5%
===========================================================================================
</TABLE>
MAXIMUM MORTGAGE INTEREST RATE: 9.590%
MINIMUM MORTGAGE INTEREST RATE: 6.810%
WTD. AVG. MORTGAGE INTEREST RATE: 8.297%
<TABLE>
<CAPTION>
OCCUPANCY RATES AT UNDERWRITING (1)
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RANGE OF REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
OCCUPANCY RATES AT U/W PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
-----------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
76.0% - 84.9% 4 $ 10,511,689 0.8% 7.774% 1.66x 57.7%
85.0% - 89.9% 13 35,831,304 2.8% 8.477% 1.32 70.5%
90.0% - 94.9% 36 165,976,871 12.9% 8.385% 1.29 74.7%
95.0% - 97.4% 47 316,675,639 24.5% 8.395% 1.26 76.3%
97.5% - 100.0% 136 706,441,802 54.7% 8.221% 1.45 64.1%
----------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 236 $1,235,437,305 95.7% 8.291% 1.38x 68.8%
====================================================================================================
</TABLE>
MAXIMUM OCCUPANCY RATE AT U/W: 100.0%
MINIMUM OCCUPANCY RATE AT U/W: 76.0%
WTD. AVG. OCCUPANCY RATE AT U/W: 97.3%
(1) DOES NOT INCLUDE THE HOTEL PROPERTIES.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 15
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
<CAPTION>
YEARS BUILT/YEARS RENOVATED (1)
WEIGHTED
NUMBER OF PERCENTAGE OF AVERAGE WEIGHTED
MORTGAGED CUT-OFF DATE INITIAL MORTGAGE WEIGHTED AVERAGE
RANGE OF YEARS REAL PRINCIPAL MORTGAGE POOL INTEREST AVERAGE CUT-OFF DATE
BUILT/RENOVATED PROPERTIES BALANCE BALANCE RATES U/W DSCR LTV RATIO
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
1920 - 1970 18 $ 48,167,234 3.7% 8.225% 1.46x 66.4%
1971 - 1980 20 38,854,139 3.0% 8.428% 1.37 70.3%
1981 - 1990 62 319,605,662 24.8% 8.113% 1.48 67.3%
1991 - 2000 144 884,141,129 68.5% 8.362% 1.35 68.9%
-----------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 244 $1,290,768,164 100.0% 8.297% 1.38x 68.5%
===========================================================================================================
MOST RECENT YEAR BUILT/RENOVATED: 2000
OLDEST YEAR BUILT/RENOVATED: 1920
WTD. AVG. YEAR BUILT/RENOVATED: 1993
(1) YEAR BUILT/RENOVATED REFLECTS THE LATER OF THE YEAR BUILT OR THE YEAR RENOVATED.
</TABLE>
<TABLE>
<CAPTION>
MORTGAGE POOL PREPAYMENT PROFILE (1)
NUMBER OF
MONTHS SINCE MORTGAGE OUTSTANDING % OF POOL YIELD PREPAYMENT % OF POOL
DATE CUT-OFF DATE LOANS BALANCE (MM) LOCKOUT MAINTENANCE PREMIUM OPEN TOTAL
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
NOV-00 0 232 $1,290.8 94.60% 4.50% 0.90% 0.00% 100.0%
NOV-01 12 232 $1,279.9 94.68% 4.43% 0.88% 0.00% 100.0%
NOV-02 24 232 $1,268.0 92.15% 6.98% 0.00% 0.87% 100.0%
NOV-03 36 232 $1,254.7 89.60% 9.54% 0.00% 0.86% 100.0%
NOV-04 48 231 $1,230.1 89.63% 10.37% 0.00% 0.00% 100.0%
NOV-05 60 230 $1,206.8 88.61% 11.39% 0.00% 0.00% 100.0%
NOV-06 72 230 $1,190.3 88.73% 11.27% 0.00% 0.00% 100.0%
NOV-07 84 228 $1,160.4 88.85% 10.92% 0.00% 0.23% 100.0%
NOV-08 96 15 $1,134.3 89.55% 10.45% 0.00% 0.00% 100.0%
NOV-09 108 214 $1,061.1 81.11% 8.53% 0.00% 10.36% 100.0%
NOV-10 120 10 $ 84.2 72.18% 27.82% 0.00% 0.00% 100.0%
NOV-11 132 9 $ 72.6 78.83% 21.17% 0.00% 0.00% 100.0%
NOV-12 144 5 $ 50.8 83.23% 13.25% 0.00% 3.51% 100.0%
NOV-13 156 2 $ 3.0 54.44% 45.56% 0.00% 0.00% 100.0%
NOV-14 168 2 $ 2.8 55.94% 44.06% 0.00% 0.00% 100.0%
NOV-15 180 2 $ 2.6 57.85% 42.15% 0.00% 0.00% 100.0%
NOV-16 192 2 $ 2.3 60.35% 39.65% 0.00% 0.00% 100.0%
NOV-17 204 2 $ 2.0 63.79% 36.21% 0.00% 0.00% 100.0%
NOV-18 216 2 $ 1.7 68.76% 31.24% 0.00% 0.00% 100.0%
NOV-19 228 2 $ 1.4 76.58% 23.42% 0.00% 0.00% 100.0%
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
(1) CALCULATED ASSUMING THAT NO MORTGAGE LOAN PREPAYS, DEFAULTS OR
IS REPURCHASED PRIOR TO STATED MATURITY, EXCEPT THAT THE ARD LOANS
ARE ASSUMED TO PAY IN FULL ON THEIR RESPECTIVE ANTICIPATED
REPAYMENT DATES. OTHERWISE CALCULATED BASED ON MATURITY
ASSUMPTIONS TO BE SET FORTH IN THE FINAL PROSPECTUS SUPPLEMENT.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 16
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
<TABLE>
PREPAYMENT PROVISION AS OF CUT-OFF DATE
<CAPTION>
WEIGHTED WEIGHTED WEIGHTED
AVERAGE AVERAGE AVERAGE
PERCENTAGE OF REMAINING REMAINING REMAINING WEIGHTED
RANGE OF NUMBER OF CUT-OFF DATE INITIAL LOCKOUT LOCKOUT LOCKOUT PLUS AVERAGE
REMAINING TERMS TO MORTGAGE PRINCIPAL MORTGAGE POOL PERIOD PLUS YM PERIOD PREMIUM PERIOD MATURITY
STATED MATURITY (YEARS) LOANS BALANCE BALANCE (YEARS) (YEARS) (YEARS) (YEARS) (1)
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
3.00 - 3.99 1 $ 11,555,033 0.9% 0.0 0.0 1.3 3.3
5.00 - 5.99 1 8,409,024 0.7% 1.5 4.7 4.7 5.0
6.00 - 6.99 2 12,825,375 1.0% 6.4 6.6 6.6 6.8
7.00 - 7.99 2 6,277,882 0.5% 2.4 7.0 7.0 7.5
8.00 - 8.99 11 53,392,916 4.1% 7.5 8.2 8.2 8.7
9.00 - 9.49 21 159,788,658 12.4% 8.3 8.9 8.9 9.4
9.50 - 9.99 184 912,113,811 70.7% 8.8 9.3 9.3 9.7
10.00 - 10.99 1 2,908,942 0.2% 10.5 10.5 10.5 10.8
11.00 - 14.99 7 118,933,324 9.2% 6.8 12.2 12.2 12.5
15.00 - 30.00 2 4,563,201 0.4% 11.2 19.3 19.3 19.8
---------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.3 9.3 9.4 9.8
=========================================================================================================
</TABLE>
(1) IN THE CASE OF THE ARD LOANS, THE ANTICIPATED REPAYMENT DATE
IS ASSUMED TO BE THE MATURITY DATE FOR THE PURPOSES OF THE INDICATED COLUMN.
<TABLE>
<CAPTION>
PREPAYMENT OPTION
WEIGHTED WEIGHTED WEIGHTED
AVERAGE AVERAGE AVERAGE
PERCENTAGE OF REMAINING REMAINING REMAINING WEIGHTED
NUMBER OF CUT-OFF DATE INITIAL LOCKOUT LOCKOUT LOCKOUT PLUS AVERAGE
MORTGAGE PRINCIPAL MORTGAGE POOL PERIOD PLUS YM PERIOD PREMIUM PERIOD MATURITY
PREPAYMENT OPTION LOANS BALANCE BALANCE (YEARS) (YEARS) (YEARS) (YEARS)(1)
-----------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
Lockout / Defeasance 189 $ 1,102,436,356 86.8% 9.3 9.3 9.3 9.8
Lockout / Yield Maintenance 35 100,789,740 7.8% 2.8 8.8 8.8 9.2
Yield Maintenance 5 58,120,654 4.5% 0.0 12.1 12.1 12.2
Lockout / Defeasance /
Yield Maintenance 2 17,866,382 1.4% 7.6 9.3 9.3 9.7
Prepayment Premium 1 11,555,033 0.9% 0.0 0.0 1.3 3.3
------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: 232 $1,290,768,164 100.0% 8.3 9.3 9.4 9.8
======================================================================================================
</TABLE>
(1) IN THE CASE OF THE ARD LOANS, THE ANTICIPATED REPAYMENT DATE IS ASSUMED
TO BE THE MATURITY DATE FOR THE PURPOSES OF THE INDICATED COLUMN.
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
Page 17
<PAGE>
DLJCMC SERIES 2000-CKP1 COLLATERAL AND STRUCTURAL TERM SHEET OCTOBER 23, 2000
SIGNIFICANT MORTGAGE LOANS
<TABLE>
<CAPTION>
CUT-OFF PERCENTAGE
DATE OF INITIAL MORTGAGE CUT-OFF
PROPERTY UNITS/ PRINCIPAL MORTGAGE APPRAISED INTEREST DATE
# LOAN NAME TYPE SQUARE FEET BALANCE POOL BALANCE VALUE RATE U/W DSCR LTV
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
1) 437 Madison Avenue Office 782,921 $ 87,301,843 6.8% $198,000,000 8.630% 1.75x 44.1%
2) Valencia Marketplace,
Power Center Retail 528,019 51,787,099 4.0% 71,000 000 7.240% 1.26 72.9%
3) Hercules Plaza Office 532,974 50,909,381 3.9% 125,000,000 6.810% 2.41 40.7%
4) Alliance GD FH F1 Loan Multifamily 1,544 39,491,001 3.1% 51,100,000 8.640% 1.22 77.3%
5) McCandless Towers II Office 214,080 36,936,969 2.9% 63,500,000 8.550% 1.35 58.2%
6) Alliance GD FH F2 Loan Multifamily 1,251 30,282,599 2.3% 39,200,000 8.640% 1.21 77.3%
7) Commons at Sugarhouse Retail 193,397 28,387,855 2.2% 36,000,000 8.130% 1.23 78.9%
8) Gateway at Randolph
Apartments Multifamily 903 27,870,175 2.2% 58,500,000 8.020% 1.63 47.6%
9) Metroplex Office 388,608 27,441,129 2.1% 36,400,000 8.810% 1.34 75.4%
10) Palm Plaza Shopping Center Retail 342,338 25,476,217 2.0% 34,750,000 7.570% 1.31 73.3%
------------------------------------------------------------------------------------------------------------------------------------
TOTAL/WEIGHTED AVERAGE: $405,884,266 31.4% $713,450,000 8.088% 1.54x 61.0%
===========================================================================
</TABLE>
This investment summary is prepared solely for informational purposes and no
offer to sell or solicitation of any offer to purchase securities is being made
hereby. This summary is for use by Donaldson, Lufkin & Jenrette Securities
Corporation, Prudential Securities Incorporated, Credit Suisse First Boston
Corporation, McDonald Investments Inc. and Salomon Smith Barney Inc.
(collectively, the "Underwriters") and their personnel to assist in determining
whether potential investors wish to proceed with an in-depth investigation of
the proposed offering. While the information contained herein is from sources
believed to be reliable, it has not been independently verified by the
Underwriters or any of their respective affiliates, and those entities make no
representations or warranties with respect to the information contained herein
or as to the appropriateness, usefulness or completeness of these materials. Any
computational information set forth herein, including without limitation any
computations of yields and weighted average lives, is hypothetical and based on
certain assumptions, including, without limitation, assumptions regarding the
absence of voluntary and involuntary prepayments or the timing of such
occurrences. The actual characteristics and performance of the mortgage loans
will differ from those assumptions and those differences may be material. This
document is subject to errors, omissions and changes in the information and is
subject to modification or withdrawal at any time with or without notice. The
contents herein are not to be reproduced without the express written consent of
the Underwriters. THE INFORMATION CONTAINED HEREIN SUPERSEDES ANY AND ALL
INFORMATION CONTAINED IN ANY PREVIOUSLY FURNISHED SUMMARIES, MEMORANDA OR TERM
SHEETS AND WILL BE SUPERSEDED BY ANY SUBSEQUENTLY FURNISHED SIMILAR MATERIALS.
THE INFORMATION CONTAINED HEREIN WILL BE SUPERSEDED BY A FINAL PROSPECTUS AND
PROSPECTUS SUPPLEMENT. No purchase of any securities may be made unless and
until a final prospectus and prospectus supplement has been received by a
potential investor and such investor has complied with all additional related
offering requirements. The Underwriters expressly reserve the right, at their
sole discretion, to reject any or all proposals or expressions of interest in
the subject proposed offering and to terminate discussions with any party at any
time with or without notice.
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