Published on 10/30/2018 in the Prospect News Structured Products Daily.
New Issue: BofA sells $41.48 million Leveraged Index Return Notes on index basket
By Sarah Lizee
Olympia, Wash., Oct. 30 – BofA Finance LLC priced $41.48 million of 0% Leveraged Index Return Notes due Oct. 30, 2020 linked to a global equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the Hang Seng index with a 5% weight.
If the basket return is positive, the payout at maturity will be par plus 163% of the basket gain.
If the basket falls by up to 10%, the payout will be par. Investors will be exposed to any basket decline beyond 10%.
BofA Merrill Lynch is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Leveraged Index Return Notes
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Underlying basket: | Euro Stoxx 50 (40% weight), FTSE 100 (20% weight), Nikkei Stock Average (20% weight), Swiss Market (7.5% weight), S&P/ASX 200 (7.5% weight) and Hang Seng (5% weight)
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Amount: | $41,484,550
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Maturity: | Oct. 30, 2020
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 163% of any basket gain; par if basket falls by up to 10%; exposure to losses beyond 10%
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Initial index levels: | 3,164.40 for Stoxx, 7,004.10 for FTSE, 21,268.73 for Nikkei, 8,706.40 for Swiss, 5,664.066 for S&P/ASX and 24,994.46 for Hang Seng
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Final levels: | Average of closing values on five trading days ending Oct. 27, 2020
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Pricing date: | Oct. 25
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Settlement date: | Nov. 1
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 097097844
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