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BofA to price leveraged market-linked step-up notes on index basket
By Sarah Lizee
Olympia, Wash., May 16 – BofA Finance LLC plans to price leveraged market-linked step-up notes due May 2021 linked to a global 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 Euro Stoxx 50 index with a 50% initial weight, the MSCI Emerging Markets index with a 25% initial weight and the S&P 500 index with a 25% initial weight.
If the basket finishes up to or above the step-up level – 120% of the initial level – the payout at maturity will be par of $10 plus 1.45 to 1.65 times the basket gain.
If the basket is flat or increases, but is below the step-up level, the payout will be par plus the step-up payment of 20%.
Investors will be exposed to any losses.
Merrill Lynch & Co. is the agent.
The notes will price in May and settle in June.
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