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BofA plans Accelerated Return Notes linked to financial sector stocks
By Angela McDaniels
Tacoma, Wash., Jan. 29 – BofA Finance LLC plans to price 0% Accelerated Return Notes due April 2020 linked to a basket of stocks, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the common stock of Citigroup Inc. with a 33.34% weight, the common stock of KeyCorp with a 33.33% weight and the common stock of Wells Fargo & Co. with a 33.33% weight.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return that is expected to be 23% to 27% and will be set at pricing. Investors will be exposed to any basket decline.
BofA Merrill Lynch is the agent.
The notes will price in February.
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