Published on 5/18/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $7.83 million Accelerated Return Notes tied to index basket
By Tali Rackner
Minneapolis, May 18 – BofA Finance LLC priced $7.83 million of 0% Accelerated Return Notes due June 27, 2019 linked to a basket of indexes, 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 S&P 500 index with a 50% weight, the Euro Stoxx 50 index with a 40% weight and the Russell 2000 index with a 10% weight.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 14.25%. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying indexes: | S&P 500 with a 50% weight, Euro Stoxx 50 with a 40% weight and Russell 2000 with a 10% weight
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Amount: | $7,829,330
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Maturity: | June 27, 2019
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Coupon: | 0%
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Price: | Par of $10.00
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Payout at maturity: | Par plus triple any basket gain, capped at 14.25%; exposure to any basket decline
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Initial levels: | 2,693.13 for S&P 500, 3,486.60 for Stoxx, 1,573.818 for Russell
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Pricing date: | April 19
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Settlement date: | April 27
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Underwriters: | BofA Merrill Lynch
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Fees: | 2% plus 0.75% hedging charge
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Cusip: | 097097539
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