Published on 9/9/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $365,000 capped buffered notes on Nasdaq, Russell
By Wendy Van Sickle
Columbus, Ohio, Sept. 9 – BofA Finance, LLC priced $365,000 of 0% capped buffered return notes due Sept. 2, 2022 linked to the least performing of the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the final level of the least-performing index is greater than the initial level, the payout at maturity will be par plus the least-performing index return, up to the maximum payout of $1,150 per note per $1,000 face amount of notes. If the least-performing index declines by 25% or less, the payout will be par. If the least-performing index declines by more than 25%, investors will lose 1% for every 1% that the least-performing index declines beyond 25%.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance, LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped buffered return notes
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Underlying indexes: | Nasdaq-100 and Russell 2000
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Amount: | $365,000
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Maturity: | Sept. 2, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If the final level of the least-performing index is greater than initial level, par plus the index return, up to maximum payout of $1,150 per $1,000 face amount of note; if least-performing index declines by 25% or less, par; if least-performing index declines by more than 25%, 1% loss for every 1% that least-performing index declines beyond 25%
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Initial index level: | 12,110.7 for Nasdaq, 1,561.876 for Russell
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Pricing date: | Aug. 31
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Settlement date: | Sept. 3
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Agent: | BofA Securities, Inc.
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Fees: | 0%
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Cusip: | 09709TN64
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