BofA intends to price digital plus barrier notes tied to S&P, Russell

By Devika Patel

Knoxville, Tenn., July 3 – BofA Finance LLC plans to price 0% digital plus barrier notes due July 31, 2023 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

If the final level of the lesser-performing index is greater than or equal to its initial level, the payout at maturity will be par plus the digital return, which is expected to be 72% to 75% and will be set at pricing.

If the final level of the lesser-performing index is less than its initial level but greater than or equal to its threshold value, 70% of its initial level, the payout will be par.

If the final level of the lesser-performing index is less than its threshold value, investors will lose 1% for each 1% decline of the lesser-performing index from its initial level.

BofA Merrill Lynch is the agent.

The notes (Cusip: 09709TAR2) are expected to price July 26 and settle July 31.

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