Published on 4/1/2019 in the Prospect News Structured Products Daily.
New Issue: BofA Finance sells $5.47 million leveraged buffered notes on EM ETF
By Sarah Lizee
Olympia, Wash., April 1 – BofA Finance LLC priced $5.47 million of 0% leveraged buffered notes due April 30, 2020 linked to the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the ETF return is positive, the payout at maturity will be par plus 1.5 times the ETF return, subject to a maximum settlement amount of $1,145 per $1,000 principal amount.
Investors will receive par if the ETF declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged buffered notes
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Underlying ETF: | iShares MSCI Emerging Markets ETF
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Amount: | $5,467,000
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Maturity: | April 30, 2020
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If ETF return is positive, par plus 1.5 times the ETF return, subject to a maximum settlement amount of $1,145 per $1,000 principal amount; par if ETF declines by 10% or less; 1% loss for every 1% decline beyond 10%
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Initial level: | $42.20
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Threshold level: | $37.98, 90% of initial level
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Pricing date: | March 27
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Settlement date: | April 1
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Agent: | BofA Merrill Lynch
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Fees: | 0.25%
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Cusip: | 09709TPP0
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