Published on 7/30/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $4.31 million leveraged buffered notes on index basket
By Marisa Wong
Morgantown, W.Va., July 30 – BofA Finance LLC priced $4.31 million of 0% leveraged buffered notes due Dec. 31, 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 consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 20% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 1.7 times the basket gain, subject to a maximum settlement amount of $1,309.40 for each $1,000 principal amount of notes. Investors will receive par if the basket declines by 12.5% or less and will lose 1.14286% for every 1% that it declines beyond 12.5%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Leveraged buffered notes
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| Underlying basket: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (20% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
|
| Amount: | $4,308,000
|
| Maturity: | Dec. 31, 2019
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 1.7 times the gain, capped at par plus 30.94%; par if basket declines by 12.5% or less; 1.14286% loss for every 1% that basket declines beyond 12.5%
|
| Initial levels: | 3,468.45 for Stoxx, 1,753.48 for Topix, 7,658.26 for FTSE, 9,019.46 for Swiss and 6,247.646 for S&P/ASX
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 1
|
| Agent: | BofA Merrill Lynch
|
| Fees: | None
|
| Cusip: | 09709TFT3
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