By Wendy Van Sickle
Columbus, Ohio, July 31 – BofA Finance LLC priced $9.92 million of 0% market-linked step-up notes due July 26, 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 – 109.26% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 9.26%.
Investors will be exposed to any losses in the index.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $9,918,700
|
| Maturity: | July 26, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above the step-up level, par plus gain; if index gains by up to step-up level, par plus 9.26%; otherwise, full exposure to losses
|
| Initial level: | 2,475.42
|
| Step-up level: | 2,704.64, 109.26% of initial level
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 3
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097096648
|
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