Published on 12/1/2017 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $18.14 million leveraged buffered notes on basket
By Marisa Wong
Morgantown, W.Va., Dec. 1 – BofA Finance LLC priced $18.14 million of 0% leveraged buffered notes due Nov. 25, 2019 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 includes the Euro Stoxx 50 index with a 37% weight, the FTSE 100 index with a 23% weight, the Topix index with a 23% weight, the Swiss Market index with a 9% weight and the S&P/ASX 200 index with an 8% weight.
The payout at maturity will be par plus 200% of any basket gain, up to a maximum settlement amount of $1,323 per $1,000 of notes.
Investors will receive par if the basket falls by 10% or less and will lose 1.1111% for every 1% decline in the basket beyond 10%.
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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Basket components: | Euro Stoxx 50 (37% weight), FTSE 100 (23% weight), Topix (23% weight), Swiss Market (9% weight) and S&P/ASX 200 (8% weight)
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Amount: | $18,142,000
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Maturity: | Nov. 25, 2019
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If basket return is positive, par plus 200% of gain, capped at $1,323 per $1,000 of notes; par if basket falls by up to 10%; 1.1111% loss for every 1% decline in basket beyond 10%
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Initial levels: | 3,561.41 for Euro Stoxx, 7,389.46 for FTSE, 1,759.65 for Topix, 9,299.61 for Swiss Market and 5,945.671 for S&P/ASX
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Pricing date: | Nov. 20
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Settlement date: | Nov. 28
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 09709TCB5
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