By Devika Patel
Knoxville, Tenn., Dec. 22 – BofA Finance LLC priced $5.07 million of 0% market-linked step-up notes due Dec. 21, 2018 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.
If the final index level is greater than the step-up value, 112.26% of the initial index level, the payout at maturity will be par plus the index return.
If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment, 12.26%.
If the final index level is less than the initial level, investors will lose 1% for each 1% decline from the initial level.
BofA Merrill Lynch is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Market-linked step-up notes
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Underlying index: | S&P 500
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Amount: | $11,352,050
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Maturity: | Dec. 21, 2018
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 12.26%; 1% loss for each 1% decline
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Initial index level: | 2,270.76
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Step-up value: | 2,549.16, 112.26% of initial level
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Pricing date: | Dec. 20
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Settlement date: | Dec. 30
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Agent: | BofA Merrill Lynch
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Fees: | 2%
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Cusip: | 097096101
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