Published on 5/1/2017 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $4.56 million bear notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., May 1 – BofA Finance LLC priced $4.56 million of 0% bear notes due April 26, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the final index level is less than or equal to the initial index level, the payout at maturity will be par of $10 plus 20.31%. If the final index level is more than the initial index level, investors will lose 1% for every 1% that the index increases.
BofA Merrill Lynch is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Bear notes
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Underlying index: | S&P 500
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Amount: | $4,559,000
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Maturity: | April 26, 2019
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is less than or equal to initial index level, par plus 20.31%; if final index level is more than initial index level, 1% loss for every 1% that index increases
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Initial index level: | 2,388.77
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Pricing date: | April 27
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Settlement date: | May 4
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Underwriters: | BofA Merrill Lynch
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Fees: | 2% plus 0.75% hedging-related charge
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Cusip: | 097096432
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