By William Gullotti
Buffalo, N.Y., May 30 – BofA Finance LLC priced $8.17 million of 0% Accelerated Return Notes due July 26, 2024 linked to the Energy Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
BofA sold 817,200 units with a face amount of $10 each, for a total principal amount of $8,172,000. The issuer sold 433,250 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $8,150,337.50.
The payout at maturity will be par of $10 plus 300% of any ETF gain, subject to a maximum payout of par plus 35.6%.
Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying fund: | Energy Select Sector SPDR Fund
|
| Principal amount: | $8,172,000
|
| Proceeds: | $8,150,337.50
|
| Maturity: | July 26, 2024
|
| Coupon: | 0%
|
| Price: | $9.95 per unit for 433,250 units; par of $10 for remainder
|
| Payout at maturity: | Par plus 300% of any ETF gain, capped at par plus 35.6%; otherwise, 1% loss for every 1% decline of ETF from initial value
|
| Initial value: | $78.11
|
| Pricing date: | May 4
|
| Settlement date: | May 11
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.25% for 433,250 units; 1.75% for remainder
|
| Cusip: | 06054E648
|
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