Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $16.05 million notes with absolute return buffer on basket
By Sarah Lizee
Olympia, Wash., July 30 – BofA Finance LLC priced $16.05 million of 0% notes with absolute return buffer due July 29, 2022 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 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.
If the basket return is positive, the payout at maturity will be par plus 136.5% of the basket gain.
If the basket falls by up to 15%, the payout will be par plus the absolute value of the basket return.
Investors will be exposed to any basket decline beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Notes with absolute return buffer
|
| Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
|
| Amount: | $16,050,620
|
| Maturity: | July 29, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 136.5% of any basket gain; if basket falls by up to 15%, par plus the absolute value of the basket return; exposure to any basket decline beyond 15%
|
| Initial index levels: | 3,510.15 for Stoxx, 7,489.05 for FTSE, 21,756.55 for Nikkei, 9,877.03 for Swiss, 6,818.029 for S&P/ASX, 28,594.30 for Hang Seng
|
| Final levels: | Average of closing values on five trading days ending July 26, 2022
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 1
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2.25%
|
| Cusip: | 097098784
|
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