By Wendy Van Sickle
Columbus, Ohio, May 1 – BofA Finance LLC priced $14.94 million of 0% autocallable market-linked step-up notes due April 26, 2024 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index closes at or above its initial level on an annual observation date, the notes will be called at par plus a premium of 6.15% a year.
If the index finishes above the step-up level – 135% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 35%.
Investors will receive par if the index falls by up to 15% and will be exposed to any losses beyond 15%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000
|
| Amount: | $14,940,740
|
| Maturity: | April 26, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 6.15% a year premium if index closes at or above initial level on an annual observation date
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 35%; par if index falls by up to 15%; exposure to any losses beyond 15%
|
| Initial index level: | 1,575.612
|
| Step-up value: | 2,127.076, 135% of initial level
|
| Threshold value: | 1,339.27, 85% of initial level
|
| Pricing date: | April 25
|
| Settlement date: | May 2
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097098552
|
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