Published on 1/30/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $5.19 million Capped Leveraged Index Return Notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – BofA Finance LLC priced $5.19 million of 0% Capped Leveraged Index Return Notes due July 30, 2021 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket components are the S&P 500 index with an initial weight of 75%, the Euro Stoxx 50 index with an initial weight of 10%, the FTSE 100 index with an initial weight of 5%, the Nikkei 225 index with an initial weight of 5%, the Swiss Market index with an initial weight of 1.875%, the S&P/ASX 200 index with an initial weight of 1.875% and the Hang Seng index with an initial weight of 1.25%.
If the basket return is positive, the payout at maturity will be par plus 200% of basket return, subject to a maximum return of 10.1%.
If the basket falls by up to 5%, the payout will be par.
Otherwise, investors will lose 1% for each 1% decline beyond 5%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Capped Leveraged Index Return Notes
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| Underlying indexes: | S&P 500 index (75% weight), Euro Stoxx 50 index (10% weight), FTSE 100 index (5% weight), Nikkei 225 index (5% weight), Swiss Market index (1.875% weight), the S&P/ASX 200 index (1.875% weight) and the Hang Seng index (1.25% weight)
|
| Amount: | $5,186,280
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| Maturity: | July 30, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 200% of any basket gain, capped at 10.1%; par if basket falls by up to 5%; otherwise, 1% loss for every 1% decline beyond 5%
|
| Initial index levels: | 3,295.47 for S&P, 3,779.16 for Euro Stoxx 50; 7,585.98 for FTSE 100; 23,827.18 for Nikkei 225; 10,849.75 for Swiss Market; 7,090.543 for S&P/ASX 200; 27,949.64 for Hang Seng
|
| Threshold level: | 95% of initial level
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| Pricing date: | Jan. 24
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| Settlement date: | Jan. 31
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
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| Cusip: | 09710C410
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