By Wendy Van Sickle
Columbus, Ohio, May 29 – BofA Finance LLC priced $52.71 million of 0% market-linked step-up notes due July 25, 2019 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.
If the index finishes above the step-up level – 115.2% 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 15.2%.
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: | Euro Stoxx 50 index
|
| Amount: | $52,712,140
|
| Maturity: | July 25, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 15.2%; exposure to any losses
|
| Initial level: | 3,521.76
|
| Step-up value: | 4,057.07, 115.2% of initial level
|
| Pricing date: | May 24
|
| Settlement date: | June 1
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097097547
|
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