Published on 9/22/2017 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $24.64 million leveraged buffered notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Sept. 22 – BofA Finance LLC priced $24.64 million of 0% leveraged buffered notes due Nov. 20, 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.
The payout at maturity will be par plus 140% of any index gain, up to a maximum settlement amount of $1,247.10 per $1,000 of notes.
Investors will receive par if the index falls by 12.5% or less and will lose 1.142857% for every 1% decline in the index beyond 12.5%.
BofA Merrill Lynch is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered notes
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Underlying index: | S&P 500
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Amount: | $24,637,000
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Maturity: | Nov. 20, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is positive, par plus 140% of gain, capped at $1,247.10 per $1,000 of notes; par if index falls by up to 12.5%; 1.142857% loss for every 1% decline in index beyond 12.5%
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Initial index level: | 2,500.23
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Pricing date: | Sept. 15
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Settlement date: | Sept. 22
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Agent: | BofA Merrill Lynch
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Fees: | None
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Cusip: | 09709TBF7
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