By William Gullotti
Buffalo, N.Y., Dec. 7 – BofA Finance LLC priced $18 million of 0% autocallable Strategic Accelerated Redemption Securities due Nov. 20, 2026 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.
BofA sold 1,800,053 units with a face amount of $10 each, for a total principal amount of $18,000,530. The issuer sold 514,400 units to an individual investor at $9.95 per unit and the remainder to the public at par of $10, for total proceeds of $17,974,810.
The notes will be called at par plus a premium of 13.25% per year if the closing level of the index is greater than or equal to its starting value on any annual valuation date.
If the notes are not called at maturity, investors will lose 1% for each 1% decline in the index.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable Strategic Accelerated Redemption Securities
|
| Underlying index: | Euro Stoxx 50 index
|
| Principal amount: | $18,000,530
|
| Proceeds: | $17,974,810
|
| Maturity: | Nov. 20, 2026
|
| Coupon: | 0%
|
| Price: | $9.95 per unit for 514,400 units; par of $10 for remainder
|
| Payout at maturity: | If not called at maturity, full exposure to decline of index
|
| Call: | At par plus premium of 13.25% per year if index closes at or above its initial value on any annual valuation date
|
| Initial value: | 4,382.47
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 7
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.5% for 514,400 units; 2% for remainder
|
| Cusip: | 09710N218
|
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