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BofA Finance plans dual directional conditional notes on S&P 500
By Wendy Van Sickle
Columbus, Ohio, Feb. 25 – BofA Finance LLC plans to price 0% dual directional conditional participation daily trigger observation notes due Feb. 25, 2022 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
A trigger event will occur if the index closes above 130.5% or below 69.5% of its initial level any day during the life of the notes.
If a trigger event does not occur, the payout at maturity will be par plus the absolute value of the index return.
If a trigger event does occur, the payout will be par plus the supplemental amount, which will be at least 3%.
BofA Merrill Lynch is the agent.
The notes will price Feb. 26.
The Cusip number is 09709TNJ6.
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