BofA Finance plans callable capped notes linked to ICE swap rates

By Angela McDaniels

Tacoma, Wash., March 21 – BofA Finance LLC plans to price callable capped notes due April 3, 2034 linked to the difference between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Bank of America Corp.

The interest rate will be 7% for the first year. After that, the interest rate will be 15 times the amount by which the 30-year swap rate exceeds the two-year swap rate, subject to a minimum of zero and a maximum of 8% per year. Interest will be payable quarterly.

The payout at maturity will be par.

Beginning April 3, 2020, the notes will be callable quarterly at par.

BofA Merrill Lynch is the agent.

The notes will price April 1.

The Cusip number is 09709TGU9.

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