SM/PM = 2-bit or 3-bit MLC. PM = 3-bit MLC = TLC.
8 = generation = 8xx
7 = model = 850 EVO (in this case)
1 = usage (e.g. 3 = datacenter)
a/b = revision or type of flash, the 850 EVO had multiple revisions including at least three types of flash (32L, 48L, 64L) so a = 32/48L, b = 64L
At lower capacities it might use different flash, for example the 256GB SM951 utilizies 2D/planar while the higher capacities use 3D. OEM drives tend to have different, optimized firmware, so performance will not be exactly the same.