By Marisa Wong
Morgantown, W.Va., April 12 – BofA Finance LLC priced $9.66 million of market-linked step-up notes due March 25, 2021 linked to a global 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 consists of the S&P 500 index with an initial weight of 60% and the Euro Stoxx 50 index with an initial weight of 40%.
If the basket finishes above its step-up level – 124.5% of the initial level – the payout at maturity will be par plus the gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up return of 24.5%.
Investors will receive par if the basket falls by up to 5% and will be exposed to any losses beyond 5%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying basket: | S&P 500 index with an initial weight of 60% and Euro Stoxx 50 index with an initial weight of 40%
|
| Amount: | $9,660,330
|
| Maturity: | March 25, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| 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 24.5%; full exposure to losses
|
| Step-up level: | 124.5% of initial level
|
| Initial index levels: | 2,605.00 for S&P, 3,331.25 for Stoxx
|
| Pricing date: | March 28
|
| Settlement date: | April 5
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.25%
|
| Cusip: | 097097406
|
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