Published on 5/30/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.15 million leveraged buffered notes linked to basket
By Wendy Van Sickle
Columbus, Ohio, May 30 – BofA Finance LLC priced $1.15 million of 0% leveraged buffered notes due Sept. 25, 2020 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 Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a10% weight and the S&P/ASX 200 index with an 8% weight.
If the basket return is positive, the payout at maturity will be par plus 1.6 times the basket return, subject to a maximum settlement amount of $1,510 for each $1,000 principal amount of notes.
Investors will receive par if the basket declines by 10% or less.
If the basket declines by more than 10%, investors will lose 1% for each 1.1111% decline beyond 10%.
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), Topix index (27% weight), FTSE 100 index (19% weight), Swiss Market index (10% weight) and S&P/ASX 200 index (8% weight)
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Amount: | $1,148,000
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Maturity: | Sept. 25, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the basket return is positive, par plus 1.6 times the basket return, subject to maximum settlement amount of $1,510 for each $1,000 principal amount of notes; par if the basket declines by 10% or less; 1.1111% loss for each 1% decline in the basket beyond 10%
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Initial levelS: | 3,327.2 for Stoxx, 1,540.58 for Topix, 7,231.04 for FTSE, 9,594,31 for Swiss Market, 6,491.794 for S&P/ASX
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Pricing date: | May 23
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Settlement date: | May 31
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Agent: | BofA Merrill Lynch
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Fees: | 0%
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Cusip: | 09709TRP8
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