By William Gullotti
Buffalo, N.Y., March 29 – BofA Finance LLC priced $16.3 million of 0% autocallable market-linked step-up notes due March 25, 2027 linked to the Euro Stoxx 50 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 10.4% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 140% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 40%. If the index declines up to 15%, investors will receive par. Otherwise, investors will lose 1% for every 1% decline beyond 15%.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Autocallable market-linked step-up notes
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Underlying index: | Euro Stoxx 50 index
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Amount: | $16,300,170
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Maturity: | March 25, 2027
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 40%; if the index declines up to 15%, par; otherwise, lose 1% for every 1% decline below 15%
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Call: | Automatically at par plus a 10.4% annualized call premium if the index closes at or above its initial level on any annual observation date
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Initial level: | 3,863.39
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Step-up value: | 5,408.75; 140% of initial level
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Threshold level: | 3,283.88; 85% of initial level
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Pricing date: | March 24
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Settlement date: | March 31
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Underwriter: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09710F389
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