E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 2/10/2017 in the Prospect News Structured Products Daily.

New Issue: BofA Finance prices $4.75 million notes linked to five stocks

By Angela McDaniels

Tacoma, Wash., Feb. 10 – BofA Finance LLC priced $4.75 million of 0% notes due Feb. 26, 2018 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

The equally weighted basket is comprised of the common stocks of Amazon.com, Inc., Steel Dynamics, Inc., General Dynamics Corp., JPMorgan Chase & Co. and Frontier Communications Corp.

If the final basket level is greater than or equal to the initial basket level, the payout at maturity will be par of $10 plus 16.51%. Otherwise, investors will be exposed to the basket’s decline.

BofA Merrill Lynch is the underwriter.

Issuer:BofA Finance LLC
Guarantor:Bank of America Corp.
Issue:Notes
Underlying stocks:Amazon.com, Inc., Steel Dynamics, Inc., General Dynamics Corp., JPMorgan Chase & Co. and Frontier Communications Corp., equally weighted
Amount:$4.75 million
Maturity:Feb. 26, 2018
Coupon:0%
Price:Par of $10
Payout at maturity:If final basket level is greater than or equal to initial basket level, par plus 16.51%; if final basket level is less than initial basket level, full exposure to decline
Initial share prices:$819.71 for Amazon, $34.51 for Steel Dynamics, $183.14 for General Dynamics, $85.96 for JPMorgan and $3.30 for Frontier
Pricing date:Feb. 8
Settlement date:Feb. 15
Underwriters:BofA Merrill Lynch
Fees:1.75% underwriting discount plus 0.75% hedging-related charge
Cusip:097096192

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.