By William Gullotti
Buffalo, N.Y., Aug. 2 – BofA Finance LLC priced $586,020 of 0% autocallable market-linked step-up notes due July 31, 2025 linked to the MSCI Emerging Markets 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 13.68% 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, 130% 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 30%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable market-linked step-up notes
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| Underlying index: | MSCI Emerging Markets index
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| Amount: | $586,020
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| Maturity: | July 31, 2025
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| Coupon: | 0%
|
| Price: | Par of $10
|
| 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 30%; otherwise, full exposure to index decline from initial level
|
| Call: | Automatically at par plus a 13.68% annualized call premium if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 997.61
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| Step-up value: | 1,296.89; 130% of initial level
|
| Pricing date: | July 28
|
| Settlement date: | Aug. 4
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710F710
|
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