By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – BofA Finance LLC priced $7.67 million of market-linked step-up notes due July 30, 2021 linked to an international 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 is made up of the MSCI EAFE index with a 40% weight, the MSCI Emerging Markets index with a 30% weight and the Euro Stoxx 50 index with a 30% weight.
If the basket finishes above the step-up level – 136.25% of the initial level – the payout at maturity will be par of $10 plus the basket gain.
If the basket is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 36.25%.
Investors will lose 1% for each 1% decline from the initial level.
Merrill Lynch & Co. is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Market-linked step-up notes
|
Underlying indexes: | MSCI EAFE (40% weight), MSCI Emerging Markets (30% weight) and Euro Stoxx 50 (30% weight)
|
Amount: | $7,667,230
|
Maturity: | July 30, 2021
|
Coupon: | 0%
|
Price: | Par of $10
|
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 36.25%; otherwise, full exposure to losses
|
Step-up level: | 136.25% of initial level
|
Pricing date: | July 27
|
Settlement date: | Aug. 3
|
Underwriter: | BofA Merrill Lynch
|
Fees: | 2.5%
|
Cusip: | 097096663
|
|
|
|
© 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.