Published on 1/29/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $133.93 million Accelerated Return Notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 29 – BofA Finance LLC priced $133.93 million of 0% Accelerated Return Notes due March 27, 2020 linked to the S&P 500 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 of $10 plus triple any index gain, up to a maximum return of 14%. Investors will be exposed to any index decline.
BofA Merrill Lynch is the underwriter.
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 index: | S&P 500
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Amount: | $133,925,660
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Maturity: | March 27, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at 14%; exposure to any index decline
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Initial index level: | 2,642.33
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Final index level: | Average of index’s closing levels on five trading days ending March 24, 2020
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Pricing date: | Jan. 24
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Settlement date: | Jan. 31
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Underwriters: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 097098271
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