Published on 10/4/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $1.32 million leveraged notes linked to Stoxx Global Select Dividend 100
By Angela McDaniels
Tacoma, Wash., Oct. 4 – BofA Finance LLC priced $1.32 million of 0% leveraged notes due June 30, 2021 linked to the Stoxx Global Select Dividend 100 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above its initial level, the payout at maturity will be par plus 160% of the index return. Otherwise, investors will lose 1% for every 1% that the index declines from its initial level, subject to a minimum payout of $900 per $1,000 principal amount.
The notes are guaranteed by Bank of America Corp.
BofA Securities Inc. is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged notes
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Underlying index: | Stoxx Global Select Dividend 100
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Amount: | $1.32 million
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Maturity: | June 30, 2021
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index finishes at or above initial level, par plus 160% of index return; otherwise, 1% loss for every 1% that index declines from initial level, subject to minimum payout of $900 per $1,000 principal amount
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Initial level: | 2,834.19
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Pricing date: | Sept. 25
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Settlement date: | Sept. 30
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Underwriter: | BofA Securities Inc.
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Fees: | 2.25%
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Cusip: | 09709TUH2
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