By Wendy Van Sickle
Columbus, Ohio, March 30 – BofA Finance LLC priced $27.97 million of Strategic Accelerated Redemption Securities due April 6, 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at a premium of 23.4% per year if the closing level of the index is greater than its starting value on any of three quarterly observation dates after six months.
If the notes are not called, the payout at maturity will be par plus the return of the index with full exposure to the decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500
|
| Amount: | $27,972,040
|
| Maturity: | April 6, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | Full exposure to the decline if notes are not called
|
| Call: | Par plus 23.4% a year if the closing level of the index is greater than its starting value on any of three quarterly observation dates after six months
|
| Initial index level: | 2,630.07
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.25%
|
| Pricing date: | March 26
|
| Settlement date: | April 2
|
| Cusip: | 09710C444
|
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