BofA plans callable capped notes linked to U.S. dollar ICE swap rates

By Angela McDaniels

Tacoma, Wash., Oct. 23 – BofA Finance, LLC plans to price issuer callable capped notes due Nov. 16, 2037 linked to the difference between the two-year U.S. dollar ICE swap rate and the 10-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be guaranteed by Bank of America Corp.

The interest rate will be fixed at 8% for the first year. Beginning Nov. 16, 2018, the interest rate will be 10 times the amount by which the 10-year swap rate exceeds the two-year swap rate, subject to a minimum of zero and a maximum interest rate of 8% per year. Interest will be payable quarterly.

Beginning Nov. 16, 2018, the notes will be callable at par on any interest payment date.

The payout at maturity will be par.

BofA Merrill Lynch is the underwriter.

The notes will price Nov. 16.

The Cusip number is 09709TBQ3.

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