By Marisa Wong
Morgantown, W.Va., April 10 – BofA Finance LLC priced $1 million of autocallable notes due March 24, 2026 linked to the S&P 500 Low Volatility High Dividend index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 5.1% per year if the index closes at or above its call level on any annual call valuation date. The call level will be 102.5% for the first observation date and step up by 250 basis points each year.
The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.
BofA Merrill Lynch is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable notes
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| Underlying index: | S&P 500 Low Volatility High Dividend index
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| Amount: | $1 million
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| Maturity: | March 24, 2026
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| Coupon: | 0%
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| Price: | Par
|
| Payout at maturity: | Par plus any index gain; par if index falls
|
| Call: | Automatically at par plus 5.1% per year if the index closes at or above its call level on any annual call valuation date; call level will be 102.5% for the first observation date and step up by 250 bps each year
|
| Initial level: | 7,035.75
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| Pricing date: | March 19
|
| Settlement date: | March 22
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 3.75%
|
| Cusip: | 09709TPF2
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