Published on 3/12/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $5.67 million leveraged buffered notes tied to basket
By Wendy Van Sickle
Columbus, Ohio, March 12 – BofA Finance LLC priced $5.67 million of 0% leveraged buffered basket-linked notes due April 28, 2021 tied to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with a 36% weight, the Topix index with a 27% weight, the FTSE 100 index with a 19% weight, the Swiss Market index with a 10% weight and the S&P/ASX 200 index with an 8% weight.
The notes are guaranteed by Bank of America Corp.
If the basket return is positive, the payout at maturity will be par plus 1.5 times the basket return, up to a maximum of par plus 13.65%.
If the basket return is zero or negative but not less than negative 15%, the payout will be par.
Investors will lose 1.17647% for every 1% decline in the basket beyond 15%.
BofA Securities is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Leveraged buffered basket-linked notes
|
| Underlying basket: | Euro Stoxx 50 (36% weight), Topix (27% weight), FTSE 100 (19% weight), Swiss Market (10% weight) and S&P/ASX 200 (8% weight)
|
| Amount: | $5,674,000
|
| Maturity: | April 28, 2021
|
| Price: | Par
|
| Payout at maturity: | If the basket return is positive, par plus 1.5 times the basket return, up to a maximum of par plus 13.65%; if basket falls by up to 15%, par; 1.17647% loss for every 1% decline in the basket beyond 15%
|
| Initial levels: | 3,329.49 for Euro Stoxx, 1,510.87 for Topix, 6,580.61 for FTSE, 9,831.03 for Swiss Market, 6,441.21 for S&P/ASX
|
| Pricing date: | Feb. 28
|
| Settlement date: | March 6
|
| Underwriter: | BofA Securities
|
| Fees: | 0%
|
| Cusip: | 09709TB91
|
|
|
© 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.
