Published on 2/3/2020 in the Prospect News Structured Products Daily.
New Issue: BofA Finance prices $8.96 million digital notes linked to S&P 500
By Kiku Steinfeld
Chicago, Feb.3 – BofA Finance LLC priced $8.96 million of 0% digital index-linked notes due May 11, 2022 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 12.4%. 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
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Guarantor: | Bank of America Corp.
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Issue: | Digital index-linked notes
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Underlying index: | S&P 500
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Amount: | $8,959,000
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Maturity: | May 11, 2022
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index return is greater than or equal to negative 15%, par plus 12.4%; otherwise, 1.17647% loss for every 1% that index declines beyond 15%
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Initial level: | 3,325.54
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Buffer level: | 85% of initial level
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Pricing date: | Jan. 23
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Settlement date: | Jan. 30
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Underwriter: | BofA Securities, Inc.
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Fees: | None
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Cusip: | 09709TZH7
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