Published on 9/1/2020 in the Prospect News Structured Products Daily.
New Issue: BofA prices $9.39 million Accelerated Return Notes tied to index basket
By Sarah Lizee
Olympia, Wash., Sept. 1 – BofA Finance LLC priced $9.39 million of 0% Accelerated Return Notes due Oct. 29, 2021 linked to a global equity basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the S&P 500 index with a 60% weight, the Euro Stoxx 50 index with a 30% weight and the Russell 2000 index with a 10% weight.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 13.56%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying indexes: | S&P 500 index with a 60% weight, Euro Stoxx 50 index with a 30% weight and Russell 2000 index with a 10% weight
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Amount: | $9,386,040
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Maturity: | Oct. 29, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any basket gain, subject to a maximum return of 13.56%; full exposure to any basket decline
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Initial levels: | 3,484.55 for S&P, 3,331.04 for Stoxx, 1,564.563 for Russell
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Pricing date: | Aug. 27
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Settlement date: | Sept. 3
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Underwriters: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 09710C691
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