Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $10.67 million Capped Leveraged Index Return Notes on EM index
By Sarah Lizee
Olympia, Wash., July 30 – BofA Finance LLC priced $10.67 million of 0% Capped Leveraged Index Return Notes due July 30, 2021 linked to the MSCI Emerging Markets index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus 2 times any index gain, subject to a maximum return of 20.22%.
If the index declines by up to 10%, the payout will be par.
Otherwise, investors will lose 1% for every 1% decline beyond 10%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes
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Underlying index: | MSCI Emerging Markets
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Amount: | $10,670,350
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Maturity: | July 30, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 2 times any index gain, subject to a maximum return of 20.22%; if the index declines by up to 10%, par; otherwise, investors will lose 1% for every 1% decline beyond 10%
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Initial index level: | 1,054.29
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Threshold level: | 948.86, 90% of initial level
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Pricing date: | July 25
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Settlement date: | Aug. 1
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 097098750
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