By Devika Patel
Knoxville, Tenn., April 4 – BofA Finance LLC priced $13.22 million of 0% market-linked step-up notes due March 26, 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.
If the final index level is greater than the step-up value, 126.5% 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, 26.5%.
Investors will receive par if the index declines by up to 5% and will lose 1% for each 1% decline beyond 5%.
BofA Merrill Lynch is the agent.
| Issuer: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $13,222,760
|
| Maturity: | March 26, 2021
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| 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 26.5%; par if index declines by up to 5%; 1% loss for each 1% decline beyond 5%
|
| Initial index level: | 2,368.06
|
| Step-up value: | 2,995.60, 126.5% of initial level
|
| Threshold value: | 2,249.66, 95% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 6
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2.5%
|
| Cusip: | 097096317
|
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