Published on 11/26/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $5 million enhanced return notes on stock basket
By Wendy Van Sickle
Columbus, Ohio, Nov. 26 – BofA Finance LLC priced $5 million of 0% enhanced return notes due Dec. 3, 2020 linked to an equally weighted basket of 10 stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket contains the common stocks of Apple Inc., Amazon.com, Inc., Salesforce.com, Inc., ServiceNow, Inc., Twilio Inc., Veeva Systems Inc., DocuSign, Inc., Zendesk, Inc. and Zoom Video Communications, Inc. and the ordinary shares of Atlassian Corp. plc. Each component has a 10% weight.
The payout at maturity will be par plus 150% of any basket gain, subject to a maximum payout of par plus 25%.
Investors will lose 1% for every 1% basket the basket 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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| Basket components: | Apple Inc., Amazon.com, Inc., Salesforce.com, Inc., ServiceNow, Inc., Twilio Inc., Veeva Systems Inc., DocuSign, Inc., Zendesk, Inc., Zoom Video Communications, Inc., Atlassian Corp. plc; equal weights
|
| Amount: | $5 million
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| Maturity: | Dec. 3, 2020
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus 150% of any basket gain, subject to a maximum payout of par plus 25%; 1% loss for every 1% basket from initial level
|
| Initial levels: | $267.10 for Apple, $1,752.53 for Amazon.com, $162.77 for Salesforce.com, $266.31 for ServiceNow, $101.66 for Twilio, $151.76 for Veeva Systems, $66.66 DocuSign, $77.21 for Zendesk, $70.08 for Zoom and $123.94 for Atlassian
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| Pricing date: | Nov. 18
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| Settlement date: | Nov. 21
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09709TXH9
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