By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – BofA Finance LLC priced $29.53 million of 0% autocallable market-linked step-up notes due Oct. 30, 2020 linked to the MSCI Emerging Markets index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index closes at or above its initial level on any annual observation date, the notes will be called at par plus a premium of 9.55% a year.
If the index finishes at or above the step-up level – 130% 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 30%.
If the index falls, investors will be fully exposed to losses.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | MSCI Emerging Markets index
|
| Amount: | $29,532,050
|
| Maturity: | Oct. 30, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 9.55% per year if index closes at or above initial level on an annual observation date
|
| 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 30%; full exposure to any index decline
|
| Initial level: | 1,108.17
|
| Step-up level: | 1,440.62, 130% of initial level
|
| Pricing date: | Oct. 26
|
| Settlement date: | Nov. 2
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097096838
|
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