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BofA to price Leveraged Index Return Notes tied to index basket
By Sarah Lizee
Olympia, Wash., Oct. 9 – BofA Finance LLC plans to price 0% Leveraged Index Return Notes due in October 2020 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of Euro Stoxx 50 index with an initial weight of 40%, each of the FTSE 100 index and the Nikkei Stock Average index with an initial weight of 20%, each of the Swiss Market index and the S&P/ASX 200 index with an initial weight of 7.5% and the Hang Seng index with an initial weight of 5%.
If the basket return is positive, the payout at maturity will be par plus 130% to 150% of the basket gain.
If the basket falls by up to 10%, the payout will be par. Investors will be exposed to any basket decline beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
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