By William Gullotti
Buffalo, N.Y., March 1 – BofA Finance LLC priced $2.99 million of 0% Strategic Accelerated Redemption Securities due Feb. 28, 2025 linked to the SPDR S&P Biotech ETF, 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 par plus a 13.5% annualized call premium if the closing level of the ETF is greater than or equal to its starting value on any annual observation date.
If the notes are not called at maturity, investors will lose 1% for each 1% decline in the ETF from its initial level.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying fund: | SPDR S&P Biotech ETF
|
| Amount: | $2,992,960
|
| Maturity: | Feb. 28, 2025
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If not called, full exposure to decline
|
| Call: | At par plus a 13.5% annualized call premium if ETF closes at or above its initial value on any annual observation date
|
| Initial value: | $88.68
|
| Pricing date: | Feb. 22
|
| Settlement date: | March 1
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710F330
|
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