By William Gullotti
Buffalo, N.Y., July 16 – BofA Finance LLC priced $4.58 million of 0% Strategic Accelerated Redemption Securities due June 10, 2022 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 par plus a premium of 7.5% per year if the closing level of the index is greater than or equal to its starting value on any of three quarterly observation dates after six months.
If the notes are not called, investors will lose 1% for each 1% decline in the index.
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 index
|
| Amount: | $4,576,380
|
| Maturity: | June 10, 2022
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | 1% loss for each 1% decline in the index
|
| Call: | At par plus premium of 7.5% per year if index closes at or above its initial value on any of three quarterly observation dates after six months
|
| Initial value: | 4,200.88
|
| Pricing date: | May 27
|
| Settlement date: | June 4
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.25%
|
| Cusip: | 09710D400
|
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