BofA to sell buffered notes due 2020 linked to S&P 500, Russell 2000

By Sarah Lizee

Olympia, Wash., Dec. 13 – BofA Finance LLC intends to sell 0% buffered notes due Dec. 31, 2020 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

If each index return is positive, the payout at maturity will be par plus two times the return of the lesser performing index, subject to a cap that is expected to fall between $1,255 and $1,285 per $1,000 of notes and will be set at pricing.

Investors will receive par if either index declines by up to the 10% buffer and will lose 1% for every 1% decline of the lesser performing index beyond the buffer.

BofA Merrill Lynch is the agent.

The notes will price on Dec. 27 and settle on Dec. 31.

The Cusip is 09709TKG5.

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