Chicago, Oct. 15 – BofA Finance LLC priced $7.04 million of Strategic Accelerated Redemption Securities due Oct. 9, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at a premium of 9.89% per year if the closing level of the index is greater than its starting value on any of three observation dates.
For each $10.00 note, the call amount is $10.4945 if called on March 20, 2020, $10.74175 if called on June 19, 2020 and $10.989 if called on Oct. 2, 2020.
If the notes are not called, the payout at maturity will be par plus the return of the index with full exposure to the decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500
|
| Amount: | $7,040,850
|
| Maturity: | Oct. 9, 2020
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| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Full exposure to the decline if notes are not called
|
| Call: | 9.89% annual rate if the closing level of the index is greater than its starting value on any of three observation dates; call amount is $10.4945 if called on March 20, 2020, $10.74175 if called on June 19, 2020 and $10.989 if called on Oct. 2, 2020
|
| Initial index level: | 2,977.62
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.25%
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 3
|
| Cusip: | 09710C162
|
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