By Wendy Van Sickle
Columbus, Ohio, Oct. 1 – BofA Finance LLC priced $9.14 million of 0% autcallable market-linked step-up notes due Sept. 30, 2022 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 Euro Stoxx 50 index with an initial weight of 33.33%, the S&P 500 index with an initial weight of 33.34% and the Russell 2000 index with an initial weight of 33.33%.
The notes will be called at par plus 10.05% a year if basket closes at or above initial level on an annual call date.
If the basket finishes above its step-up level – 130% 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 30%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying basket: | Euro Stoxx 50 index (33.33% weight), S&P 500 index (33.34% weight) and Russell 2000 index (33.33% weight)
|
| Amount: | $9,136,310
|
| Maturity: | Sept. 30, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 10.05% a year if basket closes at or above initial level on an annual call date
|
| 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 30%; exposure to any losses
|
| Step-up level: | 130% of initial level
|
| Initial index levels: | 2,977.62 for S&P, 3,532.18 for Stoxx, 1,533.326 for Russell
|
| Pricing date: | Sept. 26
|
| Settlement date: | Oct. 3
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 09710C220
|
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