By Wendy Van Sickle
Columbus, Ohio, Aug. 1 – BofA Finance LLC priced $7.67 million of market-linked step-up notes due July 30, 2021 linked to an international equity index basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket is made up of the MSCI EAFE index with a 40% weight, the MSCI Emerging Markets index with a 30% weight and the Euro Stoxx 50 index with a 30% weight.
If the basket finishes above the step-up level – 136.25% of the initial level – the payout at maturity will be par of $10 plus the basket gain.
If the basket is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 36.25%.
Investors will lose 1% for each 1% decline from the initial level.
Merrill Lynch & Co. 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 indexes: | MSCI EAFE (40% weight), MSCI Emerging Markets (30% weight) and Euro Stoxx 50 (30% weight)
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| Amount: | $7,667,230
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| Maturity: | July 30, 2021
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above the step-up level, par plus gain; if basket gains by up to step-up level, par plus 36.25%; otherwise, full exposure to losses
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| Step-up level: | 136.25% of initial level
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| Pricing date: | July 27
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| Settlement date: | Aug. 3
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2.5%
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| Cusip: | 097096663
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