# EDGAR Filing Document

**Accession Number:** 0001961629
**File Stem:** 0001539497-23-000149
**Filing Date:** 2023-2
**Character Count:** 6183
**Document Hash:** 3ed849d22f427d9558db37a98863c123
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001539497-23-000149.hdr.sgml**: 20230206

**ACCESSION NUMBER**: 0001539497-23-000149

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230206

**DATE AS OF CHANGE**: 20230206

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIVE 2023-V1 Mortgage Trust
- **CENTRAL INDEX KEY:** 0001961629
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-260277-02
- **FILM NUMBER:** 23590602

**BUSINESS ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005
- **BUSINESS PHONE:** (212) 250-2500

**MAIL ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HIGH 2023-FIVE Mortgage Trust
- **DATE OF NAME CHANGE:** 20230109
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DEUTSCHE MORTGAGE & ASSET RECEIVING CORP
- **CENTRAL INDEX KEY:** 0001013454
- **STANDARD INDUSTRIAL CLASSIFICATION:** ASSET-BACKED SECURITIES [6189]
- **IRS NUMBER:** 043310019
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005
- **BUSINESS PHONE:** (212) 250-2500

**MAIL ADDRESS:**
- **STREET 1:** 60 WALL STREET
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10005

---

| |
|:---|
| &nbsp;&nbsp;FREE WRITING PROSPECTUS |
| &nbsp;&nbsp;FILED PURSUANT TO RULE 433 |
| &nbsp;&nbsp;REGISTRATION FILE NO.: 333-260277-02 |

---

**From:** Db Cmbs Deutsche Bank (DEUTSCHE BANK SECURI) <br> **Sent:** Monday, February 6, 2023 12:55 PM<br> **Subject:** FIVE 2023-V1 \*\*INITIAL PRICE TALK\*\* PUBLIC

FIVE 2023-V1 \*\*INITIAL PRICE TALK\*\* PUBLIC

\*\*\*PUBLIC OFFERED CERTIFICATES\*\*\*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;CLASS | &nbsp;&nbsp;RATING (M/F/K) | &nbsp;&nbsp;SIZE (MM) | &nbsp;&nbsp;C/E | &nbsp;&nbsp;WAL | &nbsp;&nbsp;IPT | &nbsp;&nbsp;TGT $PX\* |
| &nbsp;&nbsp;A-1 | &nbsp;&nbsp;AAA/AAA/AAA | &nbsp;&nbsp; 7.356 | &nbsp;&nbsp;30.000% | &nbsp;&nbsp;2.49 | &nbsp;&nbsp;PREPLACED | &nbsp;&nbsp;PREPLACED |
| &nbsp;&nbsp;A-2\*\* | &nbsp;&nbsp;AAA/AAA/AAA | &nbsp;&nbsp;125.000 | &nbsp;&nbsp;30.000% | &nbsp;&nbsp;4.72 | &nbsp;&nbsp;PREPLACED | &nbsp;&nbsp;PREPLACED |
| &nbsp;&nbsp;A-3\*\* | &nbsp;&nbsp;AAA/AAA/AAA | &nbsp;&nbsp;376.700 | &nbsp;&nbsp;30.000% | &nbsp;&nbsp;4.86 | &nbsp;&nbsp;P+140a | &nbsp;&nbsp;103 |
| &nbsp;&nbsp;A-M | &nbsp;&nbsp;NR/AAA/AAA | &nbsp;&nbsp;79.994 | &nbsp;&nbsp;19.000% | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;P+195a | &nbsp;&nbsp;103 |
| &nbsp;&nbsp;B | &nbsp;&nbsp;NR/AA-/AA- | &nbsp;&nbsp;40.906 | &nbsp;&nbsp;13.375% | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;P+235a | &nbsp;&nbsp;103 |
| &nbsp;&nbsp;C | &nbsp;&nbsp;NR/A-/A- | &nbsp;&nbsp;27.271 | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp;4.94 | &nbsp;&nbsp;P+375a | &nbsp;&nbsp;WAC |

---

\* ESTIMATE BASED ON CURRENT RATES - SUBJECT TO CHANGE

\*\* SIZES SUBJECT TO CHANGE AS DETAILED IN THE TERM SHEET. RANGE OF POSSIBLE SIZES BELOW:

CLASS EXPECTED RANGE OF BALANCE EXPECTED RANGE OF WAL <br> A-2 0.000 - 200.000 NA - 4.77 <br> A-3 301.700 - 501.700 4.86 - 4.83

---

| | |
|:---|:---|
| DEUTSCHE BANK TRADING DESK CONTACTS: |  |
| RYAN HORVATH | 212-250-5149 |
| AFTON ENGLAND | 212-250-5149 |
| DAN PENN | 212-250-5149 |
| BARCLAYS DESK CONTACTS: |  |
| DAVID KUNG | 212-528-7970 |
| PETER TAYLOR | 212-526-1528 |
| BRIAN WIELE | 212-412-5780 |
| SEAN FOLEY | 212-412-5780 |
| MELANIE MOTSCHWILLER-RAZ | 212-412-5780 |
| BMO CAPITAL MARKETS CONTACTS: |  |
| PAUL VANDERSLICE | 203-451-4151 |
| DAVID SCHELL | 201-723-4872 |
| ALEX SMITH-CONSTANTINE | 201-637-9725 |
| CITIGROUP SYNDICATE DESK CONTACTS: |  |
| RAUL OROZCO | 212-723-1295 |
| MATT PERRY | 212-723-1295 |
| GOLDMAN SACHS SYNDICATE DESK CONTACTS: |  |
| SCOTT WALTER | 212-357-8910 |
| LISA SCHEXNAYDER | 212-902-2330 |
| MONIQUE HARMON | 212-357-9012 |

---

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The issuer has filed a registration statement (including a prospectus) with the SEC for the new 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, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling 1-800-503-4611. This communication does not contain all information that is required to be included in the prospectus. The information in this communication is preliminary, and is subject to completion or change. Any investment decision with respect to the securities should be made by you based upon the information contained in the prospectus relating to the securities. There can be no assurance that actual pricing will be completed at the indicated value(s).

This communication is not an offer to sell or a solicitation of an offer to buy these securities in any state where such offer, solicitation or sale is not permitted.

The foregoing also applies to any information provided in any subsequent discussion with you about the contents of this communication, regardless of the means of such subsequent discussion.

ANY DISCLAIMERS OR OTHER NOTICES THAT MAY APPEAR BELOW THIS SENTENCE ARE NOT

APPLICABLE TO THIS MESSAGE AND SHOULD BE DISREGARDED. SUCH DISCLAIMERS OR OTHER NOTICES HAVE BEEN AUTOMATICALLY GENERATED AS A RESULT OF THIS MESSAGE HAVING BEEN SENT VIA BLOOMBERG OR ANOTHER SYSTEM.

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