New Issue: BofA sells $35.03 million market-linked step-up notes linked to index basket

By William Gullotti

Buffalo, N.Y., March 1 – BofA Finance LLC priced $35.03 million of 0% market-linked step-up notes due April 26, 2024 linked to a weighted basket of indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

BofA sold 3,503,062 units with a face amount of $10 each, for a total principal amount of $35,030,620. The issuer sold 2,230,412 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $34,919,099.40.

The basket consists of the Euro Stoxx 50 index with a 40% weight, the FTSE 100 index with a 20% weight, the Nikkei Stock Average index with a 20% weight, the Swiss Market index with a 7.5% weight, the S&P/ASX 200 index with a 7.5% weight and the FTSE China 50 index with a 5% weight.

If the basket finishes above the step-up level – 116.5% of the initial level – the payout at maturity will be par of $10 plus the basket return.

If the basket finishes flat or gains by up to the step-up level, the payout will be par plus the step-up payment of 16.5%.

Investors will be fully exposed to any basket decline.

BofA Securities, Inc. is the agent.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Market-linked step-up notes
Underlying indexes:	Euro Stoxx 50 index (40% weight), FTSE 100 index (20% weight), Nikkei Stock Average index (20% weight), Swiss Market index (7.5% weight), S&P/ASX 200 index (7.5% weight), FTSE China 50 index (5% weight)
Principal amount:	$35,030,620
Proceeds:	$34,919,099.40
Maturity:	April 26, 2024
Coupon:	0%
Price:	$9.95 per unit for 2,230,412 units; par of $10 for remainder
Payout at maturity:	If the basket finishes above the step-up level, par plus the basket return; if the basket finishes flat or gains up to the step-up level, par plus 16.5%; otherwise, full exposure to any basket decline
Initial index levels:	4,258.16 for Stoxx, 7,907.72 for FTSE, 27,453.48 for Nikkei, 11,247.75 for Swiss Market, 7,285.397 for S&P/ASX, 13,368.1 for FTSE China
Step-up value:	116.5% of initial level
Pricing date:	Feb. 23
Settlement date:	March 2
Underwriter:	BofA Securities, Inc.
Fees:	1.25% for 2,230,412 units; 1.75% for remainder
Cusip:	06054E499

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