Published on 3/13/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $4.98 million step-down trigger autocallable notes on Russell, Stoxx
Chicago, March 13 – BofA Finance LLC priced $4.98 million of 0% step-down trigger autocallable notes due March 5, 2025 linked to the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus a call return of 9.85% if each index closes at or above its initial level on any quarterly observation date or at or above its 70% downside threshold on the final valuation date. The first quarterly observation date is March 5, 2021.
If the notes are not called, meaning the lowest-performing index is below 70% of its initial level, the payout at maturity will be par plus the return with full exposure to any losses of the worse performing index.
The notes are guaranteed by Bank of America Corp.
BofA Securities and UBS Financial Services Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Step-down trigger autocallable notes
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| Underliers: | Euro Stoxx 50 index, Russell 2000 index
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| Amount: | $4,979,000
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| Maturity: | March 5, 2025
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| Coupon: | 0%
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| Price: | Par of $10
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| Call: | At par plus a call return of 9.85% per year if each index closes at or above its initial level on any quarterly observation date after one year or at or above its downside threshold on the final valuation date
|
| Payout at maturity: | If not called, meaning worst performer has finished below 70% of initial level, par plus return with full exposure to any losses of the worse performing index
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| Initial levels: | 1,476.431 for Russell, 3,329.49 for Stoxx
|
| Downside thresholds: | 1,033.502 for Russell, 2,330.64 for Stoxx, 70% of initial levels
|
| Pricing date: | Feb. 28
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| Settlement date: | March 4
|
| Agents: | BofA Securities and UBS Financial Services Inc.
|
| Fees: | None
|
| Cusip: | 05591G819
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