By Sarah Lizee
Olympia, Wash., July 30 – BofA Finance LLC priced $12.31 million of 0% Bear Strategic Accelerated Redemption Securities due Aug. 7, 2020 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The notes will be called at a premium of 13.1% per year if the closing level of the index is less than or equal to its starting value on any of three quarterly observation dates.
If the notes are not called, investors will lose 1% for each 1% gain in the index.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Bear Strategic Accelerated Redemption Securities
|
| Underlying index: | S&P 500
|
| Amount: | $12,308,710
|
| Maturity: | Aug. 7, 2020
|
| Coupon: | 0%
|
| Price: | Par of $10.00
|
| Payout at maturity: | 1% loss for each 1% gain in the index
|
| Call: | If the closing level of the index is less than or equal to its starting value on any of three quarterly observation dates, notes will be called at par plus 13.1% per year
|
| Initial index level: | 3,003.67
|
| Agent: | BofA Securities, Inc.
|
| Pricing date: | July 25
|
| Settlement date: | Aug. 1
|
| Fees: | 1.25%
|
| Cusip: | 097098842
|
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