By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – BofA Finance LLC priced $8.68 million of Strategic Accelerated Redemption Securities due Jan. 7, 2022 linked to a basket of three indexes, 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 Financials Select Sector index with a 33.33% weight, the Industrial Select Sector index with a 33.33% weight and the Health Care Select Sector index with a 33.34% weight.
The notes will be called at a premium of 12.2% per year if the closing level of the basket is greater than its starting value on any of three quarterly observation dates after six months.
If the notes are not called, the payout at maturity will be par plus the return of the basket with full exposure to the decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying basket: | Financials Select Sector index (33.33% weight), Industrial Select Sector index (33.33% weight) and Health Care Select Sector index (33.34% weight)
|
| Amount: | $8,679,860
|
| Maturity: | Jan. 7, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Full exposure to the decline if notes are not called
|
| Call: | Par plus 12.2% a year if the closing level of the basket is greater than its starting value on any of three quarterly observation dates after six months
|
| Initial index levels: | 356.5 for Financials, 886.1 for Industrial, 1,124.42 for Health Care
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 31
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.25%
|
| Cusip: | 09710C865
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
