By William Gullotti
Buffalo, N.Y., Jan. 8 – BofA Finance LLC priced $1.7 million of 0% market-linked securities – autocallable with leveraged upside participation and contingent downside due Jan. 4, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a call premium of 8.3% if the index closes at or above the initial level on Jan. 3, 2025.
If the index finishes positive, the payout at maturity will be par plus 1.5 times the gain of the index.
Investors will receive par if the index declines by no more than 25% and will lose 1% for every 1% decline if the index finishes below its 75% threshold.
The notes are guaranteed by Bank of America Corp.
Wells Fargo Securities, LLC and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked securities – autocallable with leveraged upside participation and contingent downside
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,701,000
|
| Maturity: | Jan. 4, 2027
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index finishes positive, par plus 1.5 times index return; par if index falls by no more than 25%; otherwise, full exposure to index decline from initial level
|
| Call: | Automatically at par plus an 8.3% call premium if the index closes at or above the initial level on Jan. 3, 2025
|
| Initial level: | 4,783.35
|
| Threshold level: | 3,587.5125; 75% of initial level
|
| Pricing date: | Dec. 28
|
| Settlement date: | Jan. 3
|
| Agents: | Wells Fargo Securities, LLC and BofA Securities, Inc.
|
| Fees: | 2.575%
|
| Cusip: | 09710PAK2
|
|
|
© 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.
