Published on 11/15/2017 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.59 million leveraged basket-linked notes on indexes
By Wendy Van Sickle
Columbus, Ohio, Nov. 15 – BofA Finance LLC priced $6.59 million of 0% leveraged notes due May 16, 2019 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 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The notes are guaranteed by Bank of America Corp.
If the basket return is positive, the payout at maturity will be par plus 3 times the basket return, capped at 30.54%.
Investors will share in any losses.
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 notes
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Underlying indexes: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $6,589,000
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Maturity: | May 16, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 3 times the basket return, capped at 30.54%; exposure to losses
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Initial index levels: | 3,574.52 for Euro Stoxx 50, 7,415.18 for FTSE 100; 1,783.49 for Topix; 9,162.74 for Swiss Market; 6,021.772 for S&P/ASX 200
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Pricing date: | Nov. 13
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Settlement date: | Nov. 20
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Agent: | BofA Merrill Lynch
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Fees: | 1.67%
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Cusip: | 09709TCA7
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