Published on 2/5/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $946,000 enhanced return notes on S&P, Dow
By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – BofA Finance LLC priced $946,000 of 0% enhanced return notes due Jan. 31, 2025 linked to the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If both indexes gain, the payout at maturity will be par plus 1.1 times any index gain.
If either index declines by up to 50%, the payout will be par.
Otherwise, investors will lose 1% for every 1% that the lesser performing index declines from its initial level.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Enhanced return notes
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| Underlying indexes: | S&P 500 index and Dow Jones industrial average
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| Amount: | $946,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 1.1 times any index gain of lesser performing index if both indexes gain; if either index declines by up to 50%, par; otherwise, investors will lose 1% for every 1% the lesser performing index declines from its initial level
|
| Initial levels: | 3,276.24 for S&P, 28,722.85 for Dow
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| Threshold levels: | 1,638.12 for SP, 14,361.43 for Dow, 50% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Jan. 31
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| Agent: | BofA Securities, Inc.
|
| Fees: | 3.25%
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| Cusip: | 09709TYR6
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