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Bank of America plans Accelerated Return Notes linked to index basket
By Angela McDaniels
Tacoma, Wash., Jan. 29 – BofA Finance LLC plans to price 0% Accelerated Return Notes due April 2020 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return that is expected to be 21% to 25% and will be set at pricing. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
The notes will price in February.
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