Published on 8/4/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $16.8 million Accelerated Return Notes linked to Russell
By Sarah Lizee
Olympia, Wash., Aug. 4 – BofA Finance LLC priced $16.8 million of 0% Accelerated Return Notes due Sept. 24, 2021 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum return of 18.5%. Investors will be exposed to any index decline.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Accelerated Return Notes
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Underlying index: | Russell 2000
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Amount: | $16,804,570
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Maturity: | Sept. 24, 2021
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 300% of any index gain, capped at par plus 18.5%; full exposure to any index decline
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Initial index level: | 1,495.101
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Pricing date: | July 30
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Settlement date: | Aug. 6
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 09710C618
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