By Wendy Van Sickle
Columbus, Ohio, Jan. 30 – BofA Finance LLC priced $11.2 million of market-linked step-up notes due Jan. 28, 2021 linked to an international 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 is made up of the S&P 500 index with a 60% weight and the Euro Stoxx 50 index with a 40% weight.
If the basket finishes above the step-up level – 120.2% of the initial level – the payout at maturity will be par of $10 plus the basket gain.
If the basket is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 20.2%.
Investors will receive par if the basket falls by up to 5% and will lose 1% for each 1% decline in the basket beyond 5%.
Merrill Lynch & Co. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Market-linked step-up notes
|
| Underlying indexes: | S&P 500 (60% weight) and Euro Stoxx 50 (40% weight)
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| Amount: | $11,200,800
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| Maturity: | Jan. 28, 2021
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| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If basket finishes at or above the step-up level, par plus gain; if basket gains by up to step-up level, par plus 20.2%; par if basket falls by up to 5%; otherwise, 1% loss for each 1% basket decline beyond 5%
|
| Step-up level: | 120.2% of initial level
|
| Pricing date: | Jan. 25
|
| Settlement date: | Feb. 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 097097281
|
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