By Wendy Van Sickle
Columbus, Ohio, April 3 – BofA Finance LLC priced $7.3 million of 0% market-linked step-up notes due March 22, 2019 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index finishes at or above the step-up level – 110.21% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 10.21%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | S&P 500
|
| Amount: | $7,303,000
|
| Maturity: | March 22, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above the step-up level, par plus the index gain; if index finishes up to step-up level, par plus step-up payment of 10.21%; full exposure to losses
|
| Initial level: | 2,368.06
|
| Step-up level: | 2,609.84, 110.21% of initial level
|
| Pricing date: | March 30
|
| Settlement date: | April 6
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097096358
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
