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BofA Finance to price buffered notes due 2021 tied to S&P 500
By Kristen Daniels
New York, Feb. 6 – BofA Finance LLC plans to price 0% buffered notes due Aug. 30, 2021 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 plus 2 times the index return, capped at par plus 21% to 25%.
Investors will receive par if the index declines by 10%. Otherwise, investors will lose 1% for every 1% that the index declines.
BofA Merrill Lynch is the underwriter.
The notes will price on Feb. 25.
The Cusip number is 09709TLV1.
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