By William Gullotti
Buffalo, N.Y., June 1 – BofA Finance LLC priced $5.8 million of 0% Accelerated Return Notes due July 28, 2023 linked to the SPDR S&P Metals & Mining ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be par of $10 plus triple any ETF gain, subject to a maximum payout of par plus 34%.
Investors will be exposed to any ETF decline.
BofA Securities, Inc. is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Accelerated Return Notes
|
| Underlying fund: | SPDR S&P Metals & Mining ETF
|
| Amount: | $5,798,550
|
| Maturity: | July 28, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par plus 300% of any ETF gain, capped at par plus 34%; otherwise 1% loss for every 1% decline of ETF from initial value
|
| Initial value: | $54.62
|
| Pricing date: | May 26
|
| Settlement date: | June 3
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 09710F603
|
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