By Angela McDaniels
Tacoma, Wash., May 1 – BofA Finance LLC priced $8.78 million of 0% autocallable market-linked step-up notes due April 26, 2019 linked to the Energy Select Sector 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 of 11% if the index closes at or above the initial index level on May 4, 2018.
If the notes are not called and the final index level is greater than the step-up value, 125% 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, 25%.
If the final index level is less than the initial index level, investors will have one-to-one exposure to the decline.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Energy Select Sector index
|
| Amount: | $8,783,010
|
| Maturity: | April 26, 2019
|
| 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 25%; if final index level is less than initial index level, one-to-one exposure to index’s decline
|
| Call: | At par plus 11% if index closes at or above initial index level on May 4, 2018
|
| Initial index level: | 679.93
|
| Step-up value: | 849.91, 125% of initial level
|
| Pricing date: | April 27
|
| Settlement date: | May 4
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2% plus 0.14% hedging-related charges
|
| Cusip: | 097096408
|
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