Published on 9/19/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $5.40 million leveraged buffered notes tied to index basket
By Sarah Lizee
Olympia, Wash., Sept. 19 – BofA Finance LLC priced $5.40 million of 0% leveraged buffered notes due Oct. 15, 2020 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 2.2 times the basket gain, subject to a maximum settlement amount of $1,772.64 for each $1,000 principal amount of notes.
Investors will receive par if the basket declines by 15% or less and will lose 1.17647% for every 1% that it declines beyond 15%.
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 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)
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Amount: | $5,396,000
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Maturity: | Oct. 15, 2020
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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 2.2 times the gain, capped at $1,772.64 for each $1,000 of notes; par if basket declines by 15% or less; 1.17647% loss for every 1% that basket declines beyond 15%
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Initial levels: | 3,344.63 for Stoxx, 1,728.61 for Topix, 7,304.04 for FTSE, 8,970 for Swiss and 6,165.329 for S&P/ASX
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Pricing date: | Sept. 14
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Settlement date: | Sept. 21
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Agent: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 09709TJA0
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