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BofA reports plans to price Leveraged Index Return notes tied to Dow
By Devika Patel
Knoxville, Tenn., Aug. 24 – BofA Finance LLC will price 0% Leveraged Index Return Notes due August 2023 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index return is positive, the payout at maturity will be par plus 101% to 121% of the index return, with the exact participation rate to be set at pricing. Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.
BofA Merrill Lynch is the agent.
The notes will price in August and settle in September.
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