Published on 10/29/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $54.7 million notes with absolute return buffer on S&P 500 index
Chicago, Oct. 29 – BofA Finance LLC priced $54.7 million of 0% notes with absolute return buffer due Oct. 29, 2021 linked to the S&P 500 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 positive, the payout at maturity will be par plus the index gain up to 10%.
If the index falls by up to 15.25%, the payout will be par plus the absolute value of the index return.
Investors will be exposed to any index decline beyond 15.25%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Notes with absolute return buffer
|
| Underlying index: | S&P 500 index
|
| Amount: | $54,702,270
|
| Maturity: | Oct. 29, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus any index gain up to 10%; if index falls by up to 15.25%, par plus the absolute value of the index return; exposure to any index decline beyond 15.25%
|
| Initial index level: | 3,010.29
|
| Threshold value: | 2,551.22, 84.75% of initial level
|
| Final levels: | Average of closing values on five trading days ending Oct. 26, 2021
|
| Pricing date: | Oct. 24
|
| Settlement date: | Oct. 31
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710C238
|
|
|
© 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.
