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BofA Finance plans Accelerated Return Notes tied to Euro Stoxx 50
By Marisa Wong
Morgantown, W.Va., Feb. 24 – BofA Finance LLC plans to price 0% market-linked step-up notes due February 2019 linked to the Euro Stoxx 50 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, 122% to 128% of the initial value, the payout at maturity will be par of $10 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 22% to 28% step-up payment.
If the final index level is less than the initial level, investors will lose 1% for every 1% that the index declines below its initial level.
The exact step-up value and step-up payment will be set at pricing.
BofA Merrill Lynch is the agent.
The notes are expected to price in February and settle in March.
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