By Angela McDaniels
Tacoma, Wash., May 1 – BofA Finance LLC priced $8.75 million of 0% bear Strategic Accelerated Redemption Securities due April 26, 2019 linked to the Russell 2000 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 automatically called at par of $10 plus a call premium if the index closes at or below the initial level on May 4, 2018 or April 18, 2019. The call premium is 11.41% for the first observation date and 22.28% for the second observation date.
If the notes are not called, investors will lose 1% for every 1% that the index’s final level is greater than its initial level.
BofA Merrill Lynch is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Bear Strategic Accelerated Redemption Securities
|
| Underlying index: | Russell 2000
|
| Amount: | $8,746,000
|
| Maturity: | April 26, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par minus 1% for every 1% that index advances
|
| Call: | Automatically at par plus 11.41% per year if index closes at or below initial level on May 4, 2018 or April 18, 2019
|
| Initial index level: | 1,417.127
|
| Pricing date: | April 27
|
| Settlement date: | May 4
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2% plus 0.75% hedging-related charge
|
| Cusip: | 097096424
|
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