By William Gullotti
Buffalo, N.Y., March 1 – BofA Finance LLC priced $18.5 million of 0% autocallable market-linked step-up notes due Feb. 26, 2027 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be automatically called at par plus an 8.75% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 125% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 25%. If the index declines up to 15%, investors will receive par. Otherwise, investors will lose 1% for every 1% decline beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $18,499,320
|
| Maturity: | Feb. 26, 2027
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 25%; if the index declines up to 15%, par; otherwise, lose 1% for every 1% decline below 15%
|
| Call: | Automatically at par plus an 8.75% annualized call premium if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 1,996.007
|
| Step-up value: | 2,495.009; 125% of initial level
|
| Threshold level: | 1,696.606; 85% of initial level
|
| Pricing date: | Feb. 24
|
| Settlement date: | March 3
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710F264
|
|
|
|
|
© 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.
