Published on 3/9/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $1.1 million buffered digital return notes on S&P, Russell
By Wendy Van Sickle
Columbus, Ohio, March 9 – BofA Finance LLC priced $1.1 million of 0% buffered digital return notes due March 3, 2023 linked to the S&P 500 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 21% if the worst performer finishes at or above its initial level.
If the lesser-performing index declines by up to 18%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline of the lesser-performing index beyond 18%.
BofA Merrill Lynch. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Buffered digital return notes
|
| Underlying indexes: | S&P 500 and Russell 2000
|
| Amount: | $1.1 million
|
| Maturity: | March 3, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 21% if lesser-performing index finishes at or above initial level; par if lesser-performing index declines by up to 18%; otherwise, loss of 1% for every 1% declineof lesser-performing index beyond 18%
|
| Initial levels: | 2,954.22 for S&P, 1,476.431 for Russell
|
| Threshold level: | 2,422.46 for S&P, 1,1210.673 for Russell, 82% of initial levels
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 4
|
| Agent: | BofA Securities, Inc.
|
| Selling agent: | BofA Merrill Lynch
|
| Fees: | 0.25%
|
| Cusip: | 09709TC25
|
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