By Wendy Van Sickle
Columbus, Ohio, Aug. 3 – BofA Finance LLC priced $7.02 million of Strategic Accelerated Redemption Securities due Aug. 12, 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 Energy 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 11.6% 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 (33.334% weight), Energy Select Sector index (33.33% weight) and Health Care Select Sector index (33.33% weight)
|
| Amount: | $7,021,900
|
| Maturity: | Aug. 12, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Full exposure to the decline if notes are not called
|
| Call: | Par plus 11.6% 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: | 453.16 for Financials, 525.56 for Energy, 1,333.08 for Health Care
|
| Pricing date: | July 29
|
| Settlement date: | Aug. 5
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.25%
|
| Cusip: | 09710D483
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