By Angela McDaniels
Tacoma, Wash., Nov. 6 – BofA Finance LLC priced $7.09 million of 0% autocallable buffered notes due Nov. 5, 2020 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be automatically called at par plus a call premium if the index closes at or above its initial level on Dec. 3, 2018 or Nov. 1, 2019. The call premium is 7.3125% for the first call date and 13.5% for the second call date.
If the notes are not called and the index return is zero or positive, the payout at maturity will be par plus 20.25%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable buffered notes
|
| Underlying index: | Russell 2000
|
| Amount: | $7,088,000
|
| Maturity: | Nov. 5, 2020
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If notes are not called and index return is zero or positive, par plus 20.25%; par if index declines by 10% or less; 1.1111% loss for every 1% that index declines beyond 10%
|
| Call: | Automatically called at par plus 7.3125% if index closes at or above initial level on Dec. 3, 2018 or at par plus 13.5% if index closes at or above initial level on Nov. 1, 2019
|
| Initial index level: | 1,492.778
|
| Pricing date: | Nov. 1
|
| Settlement date: | Nov. 8
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 3%
|
| Cusip: | 09709TBT7
|
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