New Issue: BofA Finance sells $1.79 million leveraged notes on S&P 500, Dow

By Marisa Wong

Morgantown, W.Va., May 20 – BofA Finance LLC priced $1.79 million of 0% leveraged notes due May 1, 2024 linked to the least performing of the S&P 500 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.

If the return of each index is zero or positive, the payout at maturity will be par plus 1.33 times the return of the worse performing index.

If the return of either index is negative but neither falls by more than 50%, the payout will be par.

If either index falls by more than 50%, investors will be fully exposed to the decline of the worse performing index from its initial level.

BofA Merrill Lynch is the underwriter.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Leveraged notes
Underlying indexes:	S&P 500 index, Dow Jones industrial average
Amount:	$1,786,000
Maturity:	May 1, 2024
Coupon:	0%
Price:	Par
Payout at maturity:	If each index finishes flat or gains, par plus 1.33 times return of worse performing index; par if either index falls but neither falls by more than 50%; otherwise, full exposure to losses of worse performing index
Initial level:	2,939.88 for S&P, 26,543.33 for Dow
Threshold value:	1,469.94 for S&P, 13,271.67 for Dow; 50% of initial level
Pricing date:	April 26
Settlement date:	April 30
Underwriter:	BofA Merrill Lynch
Fees:	3.25%
Cusip:	09709TPW5

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.