Published on 7/11/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $10.54 million digital notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., July 11 – BofA Finance LLC priced $10.54 million of 0% digital notes due Sept. 10, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is greater than or equal to negative 15%, the payout at maturity will be par plus 12.75%. Otherwise, investors will lose 1.17647% for every 1% that the index declines beyond 15%.
The notes are guaranteed by Bank of America Corp.
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: | S&P 500
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Amount: | $10,541,000
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Maturity: | Sept. 10, 2021
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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%, plus 12.75%; otherwise, 1.17647% loss for every 1% that index declines beyond 15%
|
Initial level: | 2,993.07
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Pricing date: | July 10
|
Settlement date: | July 12
|
Underwriter: | BofA Securities Inc.
|
Fees: | None
|
Cusip: | 09709TTA9
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