By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – BofA Finance LLC priced $7.02 million of 0% autocallable market-linked step-up notes due Sept. 29, 2023 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The basket consists of the Euro Stoxx 50 index with an initial weight of 50% and the S&P 500 index with an initial weight of 50%.
If the basket closes at or above its initial level on an annual observation date, the notes will be called at par plus a premium of 8.25% per year.
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%.
If the basket falls by up to 10%, the payout will be par
Investors will be exposed to any basket decline beyond 10%.
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, S&P 500 index, 50% weights each
|
| Amount: | $7,020,980
|
| Maturity: | Sept. 29, 2023
|
| 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 30%; par if basket falls by up to 1%; exposure to declines beyond 10%
|
| Call: | At par plus 8.25% per year if basket closes at or above its initial level on an annual observation date
|
| Initial index levels: | 3,449.79 for Euro Stoxx, 2,914.0 for S&P
|
| Step-up level: | 130% of initial basket level
|
| Pricing date: | Sept. 27
|
| Settlement date: | Oct. 5
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097097828
|
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