Published on 5/30/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $34.03 million Capped Leveraged Index Return Notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, May 30 – BofA Finance LLC priced $34.03 million of 0% Capped Leveraged Index Return Notes due May 29, 2020 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket components are the Euro Stoxx 50 index (40% weight), the FTSE 100 index (20% weight), the Nikkei Stock Average index (20% weight), the Swiss Market index (7.5% weight), the S&P/ASX 200 index (7.5% weight) and the Hang Seng index (5% weight).
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 30.1%.
If the basket falls by up to 10%, the payout will be par.
Investors will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Capped Leveraged Index Return Notes
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| Underlying indexes: | Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight) and Hang Seng index (5% weight)
|
| Amount: | $34,031,050
|
| Maturity: | May 29, 2020
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| Coupon: | 0%
|
| Price: | Par of $10
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| Payout at maturity: | Par plus 200% of any basket gain, capped at 30.1%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
|
| Initial index levels: | 3,521.76 for Euro Stoxx, 7,716.74 for FTSE, 22,437.01 for Nikkei, 8,770.94 for Swiss Market, 6,037.081 for S&P/ASX 200, 30,760.41 for Hang Seng
|
| Threshold level: | 90% of initial level
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| Pricing date: | May 24
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| Settlement date: | June 1
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| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097097570
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