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BofA to price Accelerated Return Notes due 2020 linked to S&P 500
By Sarah Lizee
Olympia, Wash., Oct. 29 – BofA Finance LLC plans to price 0% Accelerated Return Notes due in January 2020 linked to the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus triple any index gain, subject to a maximum return that is expected to be between 11% and 13%, with the exact cap to be set at pricing.
Investors will lose 1% for each 1% decline.
BofA Merrill Lynch will be the agent.
The notes are expected to price in November and settle in December.
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