By Wendy Van Sickle
Columbus, Ohio, May 25 – BofA Finance LLC priced $6.88 million of 0% market-linked step-up notes due June 3, 2019 linked to the Energy Select Sector index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
If the index finishes at or above the step-up level – 118.1% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 18.1%.
Investors will be exposed to any losses.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked step-up notes
|
| Underlying index: | Energy Select Sector
|
| Amount: | $6,875,000
|
| Maturity: | June 3, 2019
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If index finishes at or above the step-up level, par plus the index gain; if index finishes up to step-up level, par plus step-up payment of 18.1%; full exposure to losses
|
| Initial level: | 679.49
|
| Step-up level: | 802.48, 118.1% of initial level
|
| Pricing date: | May 19
|
| Settlement date: | May 26
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2%
|
| Cusip: | 097096507
|
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