By William Gullotti
Buffalo, N.Y., July 14 – BofA Finance LLC priced $2.76 million of 0% dual directional buffered notes due July 31, 2024 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any gain in the index, subject to a maximum payout of par plus 10%.
If the index falls by up to 10%, the payout will be par plus the absolute value of the return.
Otherwise, investors will lose 1% for every 1% decline of the index beyond 10%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Dual directional buffered notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $2,761,000
|
| Maturity: | July 31, 2024
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus any gain in the index, capped at par plus 10%; if the index falls by up to 10%, par plus absolute value of the return; otherwise, 1% loss for each 1% decline of the index below buffer level
|
| Initial level: | 4,378.41
|
| Buffer level: | 3,940.57; 90% of initial level
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.2%
|
| Cusip: | 09709VZ90
|
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