Published on 1/31/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.96 million leveraged buffered notes tied to index basket
By Susanna Moon
Chicago, Jan. 31 – BofA Finance LLC priced $3.96 million of 0% leveraged buffered notes due June 24, 2020 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the FTSE 100 index with a 20% weight, the Topix index with a 27% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 180% of any basket gain, up to a maximum settlement amount of $1,361.62 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 15% and will lose 1.17647% for each 1% drop beyond 15%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch 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 basket: | Euro Stoxx 50 index (36% weight), FTSE 100 index (20% weight), Topix index (27% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $3,956,000
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Maturity: | June 24, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.8 times any basket gain, capped at 36.162%; par if basket declines by up to 15%; 1.17647% loss per 1% decline beyond 15%
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Initial levels: | 3,134.92 for Stoxx, 6,968.33 for FTSE, 1,557.59 for Topix, 9,023.96 for Swiss Market and 5,879.594 for S&P/ASX
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Barrier levels: | 85% of initial level
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Pricing date: | Jan. 18
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Settlement date: | Jan. 28
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Agent: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 09709TKH3
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