Published on 11/27/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $4.28 million leveraged buffered notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 27 – BofA Finance LLC priced $4.28 million of 0% leveraged buffered notes due April 21, 2021 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 20% weight, the Swiss Market index with a 9% 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 4 times the basket gain, subject to a maximum settlement amount of $1,422 for each $1,000 principal amount of notes.
Investors will receive par if the basket declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Leveraged buffered notes
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| Underlying basket: | Euro Stoxx 50 index (36% weight), Topix index (27% weight), FTSE 100 index (20% weight), Swiss Market index (9% weight) and S&P/ASX 200 index (8% weight)
|
| Amount: | $4,284,000
|
| Maturity: | April 21, 2021
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| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus 4 times the gain, capped at $1,422 for each $1,000 of notes; par if basket declines by 10% or less; 1.1111% loss for every 1% that basket declines beyond 10%
|
| Initial levels: | 3,116.07 for Stoxx, 1,625.67 for Topix, 6,947.92 for FTSE, 8,769.45 for Swiss and 5,671.787 for S&P/ASX
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 28
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.4%
|
| Cusip: | 09709TMK4
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