Published on 12/9/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $776,000 leveraged notes linked to index, ETF basket
By Angela McDaniels
Tacoma, Wash., Dec. 9 – BofA Finance LLC priced $776,000 of 0% leveraged notes due Dec. 2, 2024 linked to a basket that consists of the S&P 500 index, the Russell 2000 index, the Euro Stoxx 50 index and the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
The S&P 500 has a 40% weight, and each of the other basket components has a 20% weight.
If the basket finishes at or above its initial level, the payout at maturity will be par plus 135% of the basket return, subject to a maximum payment of $1,600 per $1,000 principal amount of notes. The payout will be par if the final basket level is less than the initial level but greater than or equal to the threshold value, 60% of the initial basket level. If the final basket level is less than the threshold value, investors will lose 1% for every 1% that the basket 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 basket: | S&P 500 index (40% weight), Russell 2000 index (20% weight), Euro Stoxx 50 index (20% weight) and iShares MSCI Emerging Markets ETF (weight)
|
| Amount: | $776,000
|
| Maturity: | Dec. 2, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If basket finishes at or above initial level, par plus 135% of basket return, subject to maximum payment of $1,600 per $1,000 principal amount of notes; par if final basket level is less than initial level but greater than or equal to threshold value, 60% of initial basket level; otherwise, 1% loss for every 1% that basket declines from initial level
|
| Initial levels: | 3,140.52 for S&P 500, 1,624.231 for Russell 2000, 3,705.55 for Euro Stoxx 50 and $43.17 for ETF
|
| Pricing date: | Nov. 26
|
| Settlement date: | Dec. 2
|
| Underwriter: | BofA Securities Inc.
|
| Fees: | 3%
|
| Cusip: | 09709TXU0
|
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