Published on 4/24/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $2.4 million leveraged buffered notes on index basket
By Susanna Moon
Chicago, April 24 – BofA Finance LLC priced $2.4 million of 0% leveraged buffered notes due Dec. 19, 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 Tokyo Stock Price 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 payout at maturity will be par 1.9 times any basket gain, up to a maximum settlement amount of $1,427.50 for each $1,000 principal amount.
Investors will receive par if the basket falls by up to 12.5% and will lose 1.142857% for each 1% decline beyond 12.5%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the underwriter.
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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Basket: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Tokyo Stock Price (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $5,382,000
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Maturity: | Dec. 19, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | Par plus 1.9 times any gain, capped at 42.75%; par if basket declines by 12.5% or less; 1.142857% loss per 1% decline beyond 12.5%
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Initial levels: | 3,477.91 for Stoxx, 7,226.05 for FTSE, 1,729.98 for Topix, 8,820.04 for Swiss and 5,841.547 for S&P/ASX
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Pricing date: | April 17
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Settlement date: | April 24
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Underwriter: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 09709TEL1 / US09709TEL17
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