Published on 3/12/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $5.67 million leveraged buffered notes tied to basket
By Wendy Van Sickle
Columbus, Ohio, March 12 – BofA Finance LLC priced $5.67 million of 0% leveraged buffered basket-linked notes due April 28, 2021 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
The notes are guaranteed by Bank of America Corp.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, up to a maximum of par plus 13.65%.
If the basket return is zero or negative but not less than negative 15%, the payout will be par.
Investors will lose 1.17647% for every 1% decline in the basket beyond 15%.
BofA Securities is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered basket-linked notes
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Underlying basket: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
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Amount: | $5,674,000
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Maturity: | April 28, 2021
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 1.5 times the basket return, up to a maximum of par plus 13.65%; if basket falls by up to 15%, par; 1.17647% loss for every 1% decline in the basket beyond 15%
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Initial levels: | 3,329.49 for Euro Stoxx, 1,510.87 for Topix, 6,580.61 for FTSE, 9,831.03 for Swiss Market, 6,441.21 for S&P/ASX
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Pricing date: | Feb. 28
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Settlement date: | March 6
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Underwriter: | BofA Securities
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Fees: | 0%
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Cusip: | 09709TB91
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