Published on 11/10/2017 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $916,000 leveraged notes linked to index basket
By Marisa Wong
Morgantown, W.Va., Nov. 10 – BofA Finance LLC priced $916,000 of 0% leveraged notes due July 9, 2019 linked to a 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 includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus triple any basket gain, up to a maximum settlement amount of $1,475.50 per $1,000 of notes.
Investors will be fully exposed to any basket decline.
BofA Merrill Lynch is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leverage notes
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Basket components: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $916,000
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Maturity: | July 9, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 300% of gain, capped at $1,475.50 per $1,000 of notes; full exposure to losses
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Initial levels: | 3,688.80 for Euro Stoxx, 7,555.32 for FTSE, 1,794.08 for Topix, 9,279.65 for Swiss Market and 5,931.707 for S&P/ASX
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Pricing date: | Nov. 2
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Settlement date: | Nov. 9
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Agent: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 09709TBV2
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