Published on 6/12/2018 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.58 million leveraged buffered notes due 2019 on indexes
By Sarah Lizee
Olympia, Wash., June 12 – BofA Finance LLC priced $3.58 million of 0% leveraged buffered notes due Nov. 13, 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 1.8 times any basket gain, up to a maximum settlement amount of $1,288.36 per $1,000 of notes.
Investors will receive par if the basket falls by 12.5% or less and will lose 1.142857% for every 1% decline in the basket beyond 12.5%.
BofA Merrill Lynch is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered notes
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Basket: | 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: | $3,582,000
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Maturity: | Nov. 13, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.8 times any basket gain, up to maximum settlement amount of $1,288.36 per $1,000 of notes; par if basket falls by 12.5% or less; 1.142857% loss for every 1% decline in the basket beyond 12.5%
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Initial levels: | 3,447.3 for Stoxx, 7,681.07 for FTSE, 1,781.44 for Topix, 8,512.06 for Swiss Market and 6,045.183 for S&P/ASX
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Pricing date: | June 8
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Settlement date: | June 15
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Underwriter: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 09709TEW7
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