A story in the April 28 edition of the Prospect News Structured Products Daily incorrectly reported the principal amount, price and fees of the BofA Finance LLC Market Index Target-Term Securities due April 17, 2025 linked to a basket of four commodity futures contracts. A corrected version follows.
By Marisa Wong
Los Angeles, April 28 – BofA Finance LLC sold $20,202,140 of 0% Market Index Target-Term Securities due April 17, 2025 linked to a basket of four commodity futures contracts, according to a 424B2 filing with the Securities and Exchange Commission.
BofA Finance sold 2,021,764 units with a face amount of $10 each, for a total principal amount of $20,217,640. The issuer sold 310,000 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $20,202,140.
The basket is comprised of equal weights of the WTI crude oil futures contract, natural gas futures contract, corn futures contract and soybeans futures contract.
The payout at maturity will be par of $10 plus 135% of any basket gain.
If the basket falls, the payout will be par.
The notes are guaranteed by Bank of America Corp.
BofA Securities Inc. is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Market Index Target-Term Securities
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Underlying basket: | WTI crude oil futures contract, natural gas futures contract, corn futures contract and soybeans futures contract, equally weighted
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Principal amount: | $20,217,640 (2,021,764 units with a face amount of $10 each)
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Proceeds: | $20,202,140
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Maturity: | April 17, 2025
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Coupon: | 0%
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Price: | $9.95 per unit for 310,000 units; par of $10 for remainder
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Payout at maturity: | Par plus 135% of any basket gain; if the basket falls, par
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Initial prices: | $102.07 for crude oil, $6.534 for natural gas, $7.9300 for corn, $17.1600 for soybeans (closing prices on pricing date)
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Initial basket level: | 100
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Final basket level: | Average of basket’s closing levels on five trading days ending April 14, 2025
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Pricing date: | April 22
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Settlement date: | April 29
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Underwriter: | BofA Securities Inc.
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Fees: | 1.75% for 310,000 units; 2.25% for remainder
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Cusip: | 09710F496
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