BofA to price market-linked step-up notes due 2021 tied to S&P 500

By Sarah Lizee

Olympia, Wash., June 26 – BofA Finance LLC plans to price market-linked step-up notes due June 2021 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index finishes above the step-up value, 110% to 116% of the initial level, the payout at maturity will be par plus the index gain.

If the index finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up return of 10% to16%.

Investors will be exposed to any losses.

BofA Securities, Inc. is the agent.

The notes are expected to price in June.

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