Published on 2/14/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $3.53 million leveraged buffered notes on MSCI EAFE index
By Wendy Van Sickle
Columbus, Ohio, Feb. 14 – BofA Finance LLC priced $3.53 million of 0% leveraged buffered notes due Dec. 17, 2019 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index return is positive, the payout at maturity will be par plus 1.6 times the index return, subject to a maximum return of 22.8%. Investors will receive par if the index declines by 12.5% or less and will lose 1.42857% for every 1% that it declines beyond 12.5%.
BofA Merrill Lynch is the underwriter.
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: | MSCI EAFE index
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Amount: | $3,529,000
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Maturity: | Dec. 17, 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 1.6 times index return, subject to 22.8% maximum return; par if index declines by 12.5% or less; 1.42857% loss for every 1% that index declines beyond 12.5%
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Initial level: | 2,022.67
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Pricing date: | Feb. 8
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Settlement date: | Feb. 15
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Underwriter: | BofA Merrill Lynch
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Fees: | 0%
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Cusip: | 09709TDF5
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