Published on 8/5/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $2.13 million leveraged notes linked to S&P, Dow
By Sarah Lizee
Olympia, Wash., Aug. 5 – BofA Finance LLC priced $2.13 million of 0% leveraged notes due July 31, 2024 linked to the lesser performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
If the lesser-performing index finishes at or above its initial level, the payout at maturity will be par plus 125% of the lesser-performing index’s return.
If the final level of the lesser-performing index is greater than or equal to its threshold level, 50% of its initial level, but less than its initial level, the payout will be par.
If the final level of the lesser-performing index is less than its threshold level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities Inc. is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Leveraged notes
|
| Underlying indexes: | S&P 500 and Dow Jones industrial average
|
| Amount: | $2,129,000
|
| Maturity: | July 31, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If lesser-performing index finishes at or above initial level, par plus 125% of lesser-performing index’s return; if final level of lesser-performing index is greater than or equal to threshold level but less than initial level, par; if final level of lesser-performing index is less than threshold level, 1% loss for every 1% that lesser-performing index declines from initial level
|
| Initial levels: | 3,025.86 for S&P 500 and 27,192.45 for Dow
|
| Threshold values: | 1,512.93 for S&P 500 and 13,596.23 for Dow, or 50% of initial levels
|
| Pricing date: | July 26
|
| Settlement date: | July 31
|
| Underwriter: | BofA Securities Inc.
|
| Fees: | 3.25%
|
| Cusip: | 09709TTE1
|
© 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.
