Published on 4/12/2017 in the Prospect News Structured Products Daily.
New Issue: BofA sells $9.15 million Accelerated Return Notes tied to index basket
By Marisa Wong
Morgantown, W.Va., April 12 – BofA Finance LLC priced $9.15 million of 0% Accelerated Return Notes due May 25, 2018 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the S&P 500 index with a 60% weight and the Euro Stoxx 50 index and the MSCI Emerging Markets index each with a 20% weight.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 12.1%. Investors will be exposed to any basket decline.
BofA Merrill Lynch 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 indexes: | S&P 500 index (60% weight), Euro Stoxx 50 index (20% weight), MSCI Emerging Markets index (20% weight)
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Amount: | $9,154,650
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Maturity: | May 25, 2018
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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 basket gain, capped at 12.1%; exposure to any basket decline
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Initial index levels: | 2,368.08 for S&P, 3,481.58 for Euro Stoxx; 969.47 for MSCI EM
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Final index levels: | For each index, average of its closing levels on five trading days ending May 22, 2018
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Pricing date: | March 30
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Settlement date: | April 6
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 097096333
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