BofA to price autocallable market-linked step-up notes on basket

By Sarah Lizee

Olympia, Wash., April 4 – BofA Finance LLC plans to price 0% autocallable market-linked step-up notes due April 2022 linked to an 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 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%.

The notes will be called at par plus 12.5% to 13.5% a year if the basket closes above the initial level on an annual call date.

If the basket finishes above its step-up level – 135% 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 35%.

Investors will be exposed to any losses.

BofA Merrill Lynch is the agent.

The notes will price in April.

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