Published on 2/21/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $12.25 million leveraged buffered notes on index basket
By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – BofA Finance LLC priced $12.25 million of 0% leveraged buffered notes due Dec. 18, 2019 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Tokyo Stock Price index with a 23% 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 1.7 times the basket return, subject to a maximum return of 48.535%. Investors will receive par if the basket declines by 15% or less and will lose 1.176471% for every 1% that it declines beyond 15%.
BofA Merrill Lynch is the underwriter.
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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Basket components: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Tokyo Stock Price (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $12,253,000
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Maturity: | Dec. 18, 2019
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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 1.7 times return, subject to 48.535% maximum return; par if basket declines by 15% or less; 1.176471% loss for every 1% that basket declines beyond 15%
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Initial index levels: | 3,426.80 for Euro Stoxx, 7,294.70 for FTSE, 1,737.37 for Topix, 8,986.72 for Swiss and 5,904.093 for S&P/ASX
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Pricing date: | Feb. 16
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Settlement date: | Feb. 26
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Underwriter: | BofA Merrill Lynch
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Fees: | 0%
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Cusip: | 09709TDL2
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