Published on 5/14/2019 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.54 million autocallable notes tied to three indexes
By Sarah Lizee
Olympia, Wash., May 14 – BofA Finance LLC priced $1.54 million of autocallable notes due May 14, 2025 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 8.5% per year if each index closes at or above its call level on any annual call valuation date. The call level will be 100% of the initial level.
If each index finishes at or above its threshold level, 70% of its initial level, the payout will be par plus 51%.
Otherwise, investors will be fully exposed to the decline of the least performing index.
BofA Merrill Lynch is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable notes
|
| Underlying indexes: | S&P 500 index, the Russell 2000 index and the Dow Jones industrial average
|
| Amount: | $1,536,000
|
| Maturity: | May 14, 2025
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If each index finishes at or above 70% of its initial level, par plus 51%; otherwise, investors will be fully exposed to the decline of the least performing index
|
| Call: | Automatically at par plus 8.5% per year if the index closes at or above its call level on any annual call valuation date; call level will be 100% of initial level
|
| Initial levels: | 2,884.05 for S&P, 1,582.312 for Russell, 25,965.09 for Dow
|
| Threshold levels: | 2,018.84 for S&P, 1,107.618 for Russell, 18,175.56 for Dow; 70% of initial levels
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 0.25%
|
| Cusip: | 09709TRE3
|
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