By Susanna Moon
Chicago, June 7 – BofA Finance LLC priced $8.11 million of 0% market-linked step-up notes due June 3, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index finishes at or above the step-up level – 111.41% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 11.41%.
Investors will be exposed to any losses.
The notes are guaranteed by Bank of America Corp.
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: | $8,110,280
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| Maturity: | June 3, 2019
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If index finishes at or above the step-up level, par plus the index gain; if index finishes up to step-up level, par plus step-up payment of 11.41%; exposure to any losses
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| Initial index level: | 2,415.07
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| Step-up value: | 2,690.63, 111.41% of initial value
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| Pricing date: | May 25
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| Settlement date: | June 2
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2%
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| Cusip: | 097096465
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