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BofA plans Bear Strategic Accelerated Redemption Securities on S&P
By Emma Trincal
New York, May 5 – BofA Finance LLC plans to price 0% Bear Strategic Accelerated Redemption Securities due May 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The notes will be called at a premium of 18% to 22% per year if the closing level of the index is less than or equal to its starting value on the first observation date after six months.
If the notes are not called, investors will lose 1% for each 1% gain in the index.
BofA Securities, Inc. is the agent.
The notes will price in May.
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