Published on 10/11/2019 in the Prospect News Structured Products Daily.
New Issue: BofA sells $988,000 leveraged buffered notes tied to index, ETF basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – BofA Finance LLC priced $988,000 of 0% leveraged buffered notes due April 12, 2022 linked to a basket of an ETF and an index, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Russell 2000 index with a 50% weight and the iShares MSCI EAFE ETF with a 50% weight.
The payout at maturity will be par plus 105% of any basket gain up to a maximum settlement amount of $1,283.50 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 15% and will lose 1% for each 1% decline beyond 15%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered notes
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Underlying indexes: | Russell 2000 index (50% weight), iShares MSCI EAFE ETF (50% weight)
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Amount: | $988,000
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Maturity: | April 12, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 105% of any basket gain up to maximum settlement amount of $1,283.50 for each $1,000 face amount; par if basket falls by up to 15%; 1% loss for each 1% decline beyond 15%
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Initial index levels: | 1,497.787 for index, $64.09 for ETF
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Pricing date: | Oct. 7
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Settlement date: | Oct. 10
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Agent: | BofA Securities, Inc.
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Fees: | 0.75%
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Cusip: | 09709TWG2
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