Published on 2/28/2017 in the Prospect News Structured Products Daily.
New Issue: BofA prices $15.54 million Accelerated Return Notes linked to S&P 500
By Devika Patel
Knoxville, Tenn., Feb. 28 – BofA Finance LLC priced $15.54 million of 0% Accelerated Return Notes due April 27, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus triple any index gain, up to a maximum payout of 10%.
Investors will lose 1% for each 1% decline.
BofA Merrill Lynch is the underwriter.
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: | S&P 500
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Amount: | $15,543,000
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Maturity: | April 27, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus triple any index gain, capped at 10%; 1% loss for each 1% decline
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Initial level: | 2,363.81
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Final index level: | Average of index’s closing levels on five trading days ending April 24, 2018
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Pricing date: | Feb. 23
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Settlement date: | March 2
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 097096283
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