Published on 10/10/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $12.7 million Capped Leveraged Index Return Notes tied to index basket
By Wendy Van Sickle
Columbus, Ohio, Oct. 10 – BofA Finance LLC priced $12.7 million of 0% Capped Leveraged Index Return Notes due March 26, 2021 linked to a basket of unequally weighted indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket components are the S&P 500 index (50% weight), Euro Stoxx 50 index (20% weight), the FTSE 100 index (10% weight), the Nikkei Stock Average index (10% weight), the Swiss Market index (3.75% weight), the S&P/ASX 200 index (3.75% weight) and the Hang Seng index (2.5% weight).
If the basket return is positive, the payout at maturity will be par plus double the basket return, subject to a maximum return of 24.65%.
If the basket falls by up to 10%, the payout will be par.
Investors will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Capped Leveraged Index Return Notes
|
| Underlying indexes: | S&P 500 index (50% weight), Euro Stoxx 50 index (20% weight), FTSE 100 index (10% weight), Nikkei Stock Average index (10% weight), Swiss Market index (3.75% weight), S&P/ASX 200 index (3.75% weight) and Hang Seng index (2.5% weight)
|
| Amount: | $12,704,930
|
| Maturity: | March 26, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 200% of any basket gain, capped at 24.65%; par if basket falls by up to 10%; otherwise, 1% loss for every 1% decline beyond 10%
|
| Initial index levels: | 2,914.0 for S&P, 3,449.79 for Euro Stoxx, 7,545.44 for FTSE, 23,796.74 for Nikkei, 9,112.22 for Swiss Market, 6,181.215 for S&P/ASX 200, 27,715.67for Hang Seng
|
| Threshold level: | 90% of initial level
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 097097836
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