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BofA Finance to price leveraged barrier notes linked to S&P, Russell
By Angela McDaniels
Tacoma, Wash., Jan. 3 – BofA Finance LLC plans to price 0% notes due July 31, 2020 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
If the lesser-performing index’s final level is greater than or equal to its initial level, the payout at maturity will be par plus 150% of the lesser-performing index’s return, subject to a maximum return that is expected to be at least 21% and will be set at pricing.
If the lesser-performing index’s final level is greater than or equal to its threshold value, 75% of its initial level, but less than its initial level, the payout will be par.
If the final level of the lesser-performing index is less than its threshold level, investors will lose 1% for every 1% that the lesser-performing index declines from its initial level.
BofA Merrill Lynch is the agent.
The notes are expected to price Jan. 28.
The Cusip number is 09709TMG3.
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