Published on 8/16/2018 in the Prospect News Structured Products Daily.
New Issue: BofA prices $9.97 million Leveraged Index Return Notes on index basket
By Marisa Wong
Morgantown, W.Va., Aug. 16 – BofA Finance LLC priced $9.97 million of 0% Leveraged Index Return Notes due Aug. 27, 2021 linked to a global equity index basket, 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 Dow Jones industrial average with a 40% weight, the Euro Stoxx 50 index with a 24% weight, the FTSE 100 index with a 12% weight, the Nikkei Stock Average index with a 12% weight, the Swiss Market index with a 4.5% weight, the S&P/ASX 200 index with a 4.5% weight and the Hang Seng index with a 3% weight.
If the basket return is positive, the payout at maturity will be par plus 158% of the basket gain.
If the basket falls by up to 10%, the payout will be par. Investors will be exposed to any basket decline beyond 10%.
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 Index Return Notes
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| Underlying basket: | Dow Jones industrial average (40% weight), Euro Stoxx 50 index (24% weight), FTSE 100 index (12% weight), Nikkei Stock Average index (12% weight), Swiss Market index (4.5% weight), S&P/ASX 200 index (4.5% weight) and Hang Seng index (3% weight)
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| Amount: | $9.97 million
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| Maturity: | Aug. 27, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | Par plus 158% of any basket gain; par if basket falls by up to 10%; exposure to losses beyond 10%
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| Initial index levels: | 25,313.14 for Dow, 3,426.28 for Stoxx, 7,667.01 for FTSE, 22,298.08 for Nikkei, 9,031.33 for Swiss, 6,278.393 for S&P/ASX, 28,366.62 for Hang Seng
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| Final levels: | Average of closing values on five trading days ending Aug. 24, 2021
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| Pricing date: | Aug. 10
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| Settlement date: | Aug. 17
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| Agent: | BofA Merrill Lynch
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| Fees: | 2.25%
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| Cusip: | 097097760
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