Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $11.24 million Accelerated Return Notes on index basket
By Sarah Lizee
Olympia, Wash., July 30 – BofA Finance LLC priced $11.24 million of 0% Accelerated Return Notes due Sept. 25, 2020 linked to a global equity basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the S&P 100 index with an initial weight of 70% and each of the Euro Stoxx 50 index, the Nikkei Stock Average index and the MSCI Emerging Markets index with an initial weight of 10%.
The payout at maturity will be par of $10 plus triple any basket gain, subject to a maximum return of 10.75%. Investors will be exposed to any basket decline.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Accelerated Return Notes
|
Underlying basket: | S&P 100 index with an initial weight of 70% and each of the Euro Stoxx 50 index, the Nikkei Stock Average index and the MSCI Emerging Markets index with an initial weight of 10%
|
Amount: | $11,242,620
|
Maturity: | Sept. 25, 2020
|
Coupon: | 0%
|
Price: | Par of $10
|
Payout at maturity: | Par plus triple any basket gain, subject to a maximum return of 10.75%; full exposure to any basket decline
|
Initial index levels: | 1,328.03 for S&P, 3,510.15 for Stoxx, 21,756.55 for Nikkei, 1,054.29 for EM
|
Pricing date: | July 25
|
Settlement date: | Aug. 1
|
Underwriters: | BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 097098834
|
© 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.