BofA plans to price fixed-to-floating rate linked notes linked to CPI

By Emma Trincal

New York, June 13 – BofA Finance LLC plans to price fixed-to-floating rate linked notes due July 6, 2027 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 4.5% per annum for the first year. After that, the annualized interest rate for each monthly interest period will equal the applicable CPI inflation adjustment.

The CPI inflation adjustment will equal the percentage change in the CPI between (a) the month that is 15 months prior to the month in which the applicable interest period begins and (b) the month that is three months prior to the month in which the applicable interest period begins.

The annualized interest rate cannot be less than 0% or more than 7%.

The payout at maturity will be par plus any accrued but unpaid interest.

BofA Securities, Inc. is the agent.

The notes are guaranteed by Bank of America Corp.

The notes will price on June 30 and will settle on July 6.

Fees are 0.75%.

The Cusip number is 06048WW30.

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