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BofA plans 14-month market-linked step-up notes tied to index basket
By Susanna Moon
Chicago, March 22 – BofA Finance LLC plans to price market-linked step-up notes due June 2019 linked to a basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the Euro Stoxx 50 index with an initial weight of 40%, the FTSE 100 index with an initial weight of 20%, the Nikkei Stock Average index with an initial weight of 20%, the Swiss Market Index with an initial weight of 7.5%, the S&P/ASX 200 index with an initial weight of 7.5% and the Hang Seng Index with an initial weight of 5%.
If the basket finishes above its step-up level – 111.5% to 117.5% of the initial level – the payout at maturity will be par plus the gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up return of 11.5% to 17.5%.
Investors will be exposed to any losses.
The notes will be guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
The notes will price in March and settle in April.
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