Published on 1/30/2018 in the Prospect News Structured Products Daily.
New Issue: BofA prices $49.96 million market-linked step-up notes on Euro Stoxx
By Marisa Wong
Morgantown, W.Va., Jan. 30 – BofA Finance LLC priced $49,959,503 of 0% market-linked step-up notes due July 30, 2020 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index finishes at or above the step-up level – 130% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 30%.
If the index falls by up to 7.65%, the payout will be par.
Investors will be exposed to any index decline beyond 7.65%.
BofA Merrill Lynch is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Market-linked step-up notes
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Underlying index: | Euro Stoxx 50
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Amount: | $49,959,502.70
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Maturity: | July 30, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes at or above the step-up level, par plus the gain; if the index gains by up to the step-up level, par plus 30%; if the index falls by up to 7.65%, par; otherwise, exposure to any index decline beyond 7.65%
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Initial index level: | 3,630.15
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Step-up level: | 4,719.20, 130% of initial level
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Threshold level: | 3,352.44, 92.35% of initial level
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Pricing date: | Jan. 25
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Settlement date: | Feb. 1
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Underwriter: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 097097299
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