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BofA to price market-linked step-up notes linked to index basket
New York, July 12 – BofA Finance LLC plans to price market-linked step-up notes due July 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 MSCI EAFE index with a 40% weight, the MSCI Emerging Markets index with a 30% weight and the Euro Stoxx 50 index with a 30% weight.
If the index finishes above the step-up level – 136% to 140% of the initial level, to be set at pricing – the payout at maturity will be par of $10 plus the index gain.
If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 36% to 40%. The exact step-up payment will be set at pricing.
Investors will lose 1% for each 1% decline from the initial level.
Merrill Lynch & Co. is the agent.
The notes will price in July and settle in August.
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