Published on 7/5/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $24.97 million digital notes linked to Russell
By Sarah Lizee
Olympia, Wash., July 5 – BofA Finance LLC priced $24.97 million of 0% digital notes due Aug. 5, 2020 linked to the Russell 2000 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 greater than or equal to negative 15%, the payout at maturity will be par plus 5.42%. Otherwise, investors will lose 1.17647% for every 1% that the index declines beyond 15%.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
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Issue: | Digital notes
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Underlying index: | Russell 2000
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Amount: | $24,965,000
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Maturity: | Aug. 5, 2020
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Coupon: | 0%
|
Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 15%, par plus 5.42%; otherwise, 1.17647% loss for every 1% that index declines beyond 15%
|
Initial index level: | 1,569.663
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Pricing date: | July 1
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Settlement date: | July 9
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Underwriters: | BofA Securities, Inc.
|
Fees: | 0.71%
|
Cusip: | 09709TSM4
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