Published on 7/30/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $21.6 million Capped Leveraged Index Return Notes on S&P
By Sarah Lizee
Olympia, Wash., July 30 – BofA Finance LLC priced $21.6 million of 0% Capped Leveraged Index Return Notes with Absolute Return Buffer due July 26, 2024 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus 1.5 times any index gain, subject to a maximum return of 47.44%.
If the index declines by up to 20%, the payout will be par plus the absolute value of the return of the index.
Otherwise, investors will lose 1% for every 1% decline beyond 20%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Capped Leveraged Index Return Notes with Absolute Return Buffer
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Underlying index: | S&P 500
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Amount: | $21,602,210
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Maturity: | July 26, 2024
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 1.5 times any index gain, subject to a maximum return of 47.44%; if the index declines by up to 20%, par plus the absolute value of the return of the index; otherwise, investors will lose 1% for every 1% decline beyond 20%
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Initial index level: | 3,003.67
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Threshold level: | 2,402.94, 80% of initial level
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Pricing date: | July 25
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Settlement date: | Aug. 1
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Agent: | BofA Securities, Inc.
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Fees: | 2.5%
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Cusip: | 097098818
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