Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $9.67 million leveraged buffered notes linked to S&P
By Sarah Lizee
Olympia, Wash., April 1 – BofA Finance LLC priced $9.67 million of 0% leveraged buffered notes due July 30, 2020 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 index return is positive, the payout at maturity will be par plus 1.5 times the index return, subject to a maximum settlement amount of $1,134 for each $1,000 principal amount of notes.
Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines 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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Underlying index: | S&P 500
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Amount: | $9,668,000
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Maturity: | July 30, 2020
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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 1.5 times index return, subject to a maximum settlement amount of $1,134 per $1,000 of notes; par if index declines by 10% or less; 1% loss for every 1% that index declines beyond 10%
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Initial level: | 2,805.37
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Buffer level: | 2,524.83, 90% of initial level
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Pricing date: | March 27
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Settlement date: | April 1
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Agent: | BofA Merrill Lynch
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Fees: | 0.25%
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Cusip: | 09709TPR6
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