BofA plans two-year capped Leveraged Index Return Notes on S&P 500

By Sarah Lizee

Olympia, Wash., Oct. 30 – BofA Finance LLC plans to price 0% capped Leveraged Index Return Notes due November 2020 linked to S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes will be guaranteed by Bank of America Corp.

The payout at maturity will be par of $10 plus double any index gain, up to a maximum return of 14% to 18%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

BofA Merrill Lynch is the agent.

The notes will price in November and settle in December.

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