By Wendy Van Sickle
Columbus, Ohio, June 2 – BofA Finance LLC priced $15.01 million of 0% autocallable market-linked step-up notes due June 3, 2024 linked to the Russell 2000 Value 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 par plus a 9% annualized premium if the index closes at or above its initial level on either of two annual observation dates.
If the index finishes above the step-up level – 125% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 25%.
Investors will be exposed to any losses in the index.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 Value index
|
| Amount: | $15,006,500
|
| Maturity: | June 3, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus a 9% annualized premium if the index closes at or above its initial level on either of two annual observation dates
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 25%; full exposure to any losses
|
| Initial level: | 2,506.941
|
| Step-up value: | 3,133.676, 125% of initial level
|
| Pricing date: | May 27
|
| Settlement date: | June 4
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710D434
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
