Published on 2/28/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $1.78 million leveraged buffered notes linked to S&P 500
By Sarah Lizee
Olympia, Wash., Feb. 28 – BofA Finance LLC priced $1.78 million of 0% leveraged buffered notes due April 22, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes above its initial level, the payout at maturity will be par plus 130% of the index return, capped at $1,222.95 per $1,000 of notes. Investors will receive par if the index declines by 12.5% or less and will lose 1.14286% for every 1% that it declines beyond 12.5%.
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 index: | S&P 500
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Amount: | $1,777,000
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Maturity: | April 22, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes above initial level, par plus 130% of index return, capped at $1,222.95 per $1,000 of notes; par if index declines by 12.5% or less; 1.14286% loss for every 1% that index declines beyond 12.5%
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Initial level: | 3,337.75
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Buffer level: | 87.5% of initial level
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Pricing date: | Feb. 21
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Settlement date: | Feb. 28
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Agent: | BofA Securities Inc.
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Fees: | None
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Cusip: | 09709TA50
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