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BofA plans to price Market Index Target-Term Securities on S&P 500
By Sarah Lizee
Olympia, Wash., Feb. 1 – BofA Finance LLC plans to price 0% Market Index Target-Term Securities due February 2025 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index return is positive, the payout at maturity will be par of $10 plus the index return, subject to a maximum return of 50% to 70%. The exact cap will be set at pricing.
If the index is flat or negative, the payout will be par.
BofA Merrill Lynch is the underwriter.
The notes will price and settle in February.
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