By Sarah Lizee
Olympia, Wash., Aug. 19 – BofA Finance LLC priced $1.7 million of 0% enhanced return notes due Aug. 19, 2021 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par plus 1.5 times any ETF gain, capped at par plus 14.28%.
If the ETF declines by up to 20%, the payout will be par.
Otherwise, investors will lose 1% for every 1% ETF decline beyond 20%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Enhanced return notes
|
| Underlying ETF: | SPDR S&P 500 ETF trust
|
| Amount: | $1.7 million
|
| Maturity: | Aug. 19, 2021
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 1.5 times any ETF gain, capped at par plus 14.28%; if the ETF declines by up to 20%, par; otherwise, investors will lose 1% for every 1% ETF decline beyond 20%
|
| Initial level: | $283.90
|
| Pricing date: | Aug. 14
|
| Settlement date: | Aug. 19
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09709TUQ2
|
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