By Angela McDaniels
Tacoma, Wash., Feb. 28 – BofA Finance LLC priced $265,000 of 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 are guaranteed by Bank of America Corp.
A trigger event occurs if the index’s closing level either increases above the upper trigger level, 130.5% of the initial index level, or falls below the lower trigger level, 69.5% of the initial index level, on any trading day during the life of the notes.
If a trigger event does not occur and the final index level is greater than or equal to the initial index level, the payout at maturity will be par plus the index return.
If a trigger event does not occur and the final index level is less than the initial index level, the payout will be par plus the absolute value of the index return.
If a trigger event does occur, the payout will be par plus 3%.
BofA Merrill Lynch is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Dual directional conditional participation daily trigger observation notes
|
| Underlying index: | S&P 500
|
| Amount: | $265,000
|
| Maturity: | Feb. 25, 2022
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If trigger event does not occur and final index level is greater than or equal to initial index level, par plus index return; if trigger event does not occur and final index level is less than initial index level, par plus absolute value of index return; if trigger event does occur, par plus 3%
|
| Trigger event: | Index’s closing level either increases above upper trigger level or falls below lower trigger level on any trading day during life of notes
|
| Initial level: | 2,793.90
|
| Upper trigger: | 3,646.04, 130.5% of initial level
|
| Lower trigger:; | 1,941.76, 69.5% of initial level
|
| Pricing date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Underwriters: | BofA Merrill Lynch
|
| Fees: | 1%
|
| Cusip: | 09709TNJ6
|
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