By Susanna Moon
Chicago, July 13 – BofA Finance LLC priced $7.45 million of 0% market-linked step-up notes due June 25, 2021 linked to the S&P 500 index with a 70% weight and the Euro Stoxx 50 index with a 30% weight, according to a 424B2 filing with the Securities and Exchange Commission.
If the basket finishes at or above the step-up level – 131.2% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up payment of 31.2%.
Investors will receive par if the basket falls by up to 5% and will be exposed to any losses beyond 5%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Market-linked step-up notes
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| Underlying indexes: | S&P 500 (70% weight) and Euro Stoxx 50 (30% weight)
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| Amount: | $7,448,380
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| Maturity: | June 25, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above the step-up level, par plus gain; if basket gains by up to step-up level, par plus 31.2%; otherwise, full exposure to losses
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| Step-up level: | 131.2% of initial level
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| Pricing date: | June 29
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| Settlement date: | July 7
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2.5%
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| Cusip: | 097096531
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