Chicago, June 13 – BofA Finance LLC priced $10 million of issuer callable daily range accrual notes due May 8, 2034 tied to the six-month Libor, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The interest rate, paid quarterly, is a 5% base rate multiplied by the number of London banking days in the applicable interest period when Libor is zero or positive but less than 4.25% divided by the total number of London banking days in the applicable interest period.
The interest rate will not be greater than 5% or less than zero.
The payout at maturity will be par plus any interest.
Beginning May 8, 2020 and ending Feb. 8, 2034, the notes will be callable at par plus interest on any interest payment date.
BofA Securities Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Issuer callable daily range accrual notes
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| Underlying rate: | Six-month Libor
|
| Amount: | $10 million
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| Maturity: | May 8, 2034
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| Coupon: | 5% base rate multiplied by the number of London banking days in the applicable interest period when Libor is zero or positive but less than 4.25% divided by the total number of London banking days in the applicable interest period, paid quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus any interest
|
| Call option: | At par plus any interest on any quarterly interest payment date starting May 8, 2020 and ending Feb. 8, 2034
|
| Base rate: | 5%
|
| Accrual barrier: | 4.25%
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| Pricing date: | May 6
|
| Settlement date: | May 8
|
| Agent: | BofA Securities Inc.
|
| Fees: | 1%
|
| Cusip: | 09709TGX3
|
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