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
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Guarantor: | Bank of America Corp.
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Issue: | Notes
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Underlying stocks: | Amazon.com, Inc., Steel Dynamics, Inc., General Dynamics Corp., JPMorgan Chase & Co. and Frontier Communications Corp., equally weighted
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Amount: | $4.75 million
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Maturity: | Feb. 26, 2018
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Coupon: | 0%
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Price: | Par of $10
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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
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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
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Pricing date: | Feb. 8
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Settlement date: | Feb. 15
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Underwriters: | BofA Merrill Lynch
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Fees: | 1.75% underwriting discount plus 0.75% hedging-related charge
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Cusip: | 097096192
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