By Susanna Moon
Chicago, Dec. 1 – BofA Finance LLC priced $5.84 million of 0% market-linked step-up notes due Nov. 27, 2020 linked to a basket of two indexes, according to a 424B2 filing with the Securities and Exchange Commission.
The basket consists of the S&P 500 index with an initial weight of 60% and the Euro Stoxx 50 index with an initial weight of 40%.
If the basket finishes at or above the step-up level – 122.7% of the initial level – the payout at maturity will be par of $10 plus the gain.
If the basket gains by up to the step-up level, the payout will be par plus the step-up payment of 22.7%.
Investors will receive par if the basket falls by up to 5% and will be exposed to any losses beyond 5%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Market-linked step-up notes
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| Underlying basket: | S&P 500 index (60% weight) and Euro Stoxx 50 index (40% weight)
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| Amount: | $5,844,980
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| Maturity: | Nov. 27, 2020
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If basket finishes at or above step-up level, par plus gain; if basket gains up to step-up level, par plus 22.7%; par if basket falls by up to 5%, exposure to any losses beyond 5%
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| Step-up level: | 122.7% of initial level
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| Pricing date: | Nov. 21
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| Settlement date: | Nov. 29
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2.25%
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| Cusip: | 097097208
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