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BofA plans two-year capped Leveraged Index Return Notes on S&P 500
By Marisa Wong
Morgantown, W.Va., Oct. 13 – BofA Finance LLC plans to price 0% capped Leveraged Index Return Notes due October 2019 linked to S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 10% to 14%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
BofA Merrill Lynch is the agent.
The notes will price in October and settle in November.
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