By Wendy Van Sickle
Columbus, Ohio, June 21 – BofA Finance LLC priced $18.21 million of 0% autocallable buffered notes due June 22, 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.
The notes will be automatically called at par plus a call premium if the index closes at or above the initial index level on either of two call observation dates. The call premium will be 7.5% for the first call observation date on June 26, 2020 and 15% for the second call observation date on June 21, 2021.
If the notes are not called and the index return is zero or positive, the payout at maturity will be par plus a fixed return of 22.5%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable buffered index-linked notes
|
| Underlying index: | S&P 500
|
| Amount: | $18,205,000
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| Maturity: | June 22, 2022
|
| Coupon: | 0%
|
| Price: | Par of $1,000
|
| Payout at maturity: | If index return is zero or positive, par plus 22.5%; par if index declines by 10% or less; 1.1111% loss for every 1% drop beyond 10%
|
| Call: | Automatically at par plus premium if index closes at or above initial index level on either of two call observation dates; premium is 7.5% if called on June 26, 2020 and 15% if called on June 21, 2021
|
| Initial level: | 2,926.46
|
| Pricing date: | June 19
|
| Settlement date: | June 26
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 09709TRR4
|
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