BofA plans market-linked step-up autocallables on PHLX Housing Sector

By Susanna Moon

Chicago, June 6 – BofA Finance LLC plans to price 0% autocallable market-linked step-up notes due June 2019 linked to the PHLX Housing Sector index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be called at par plus a call premium of 8.5% per year if the index closes at or above its initial level on July 2018 or June 2019.

If the index finishes above the step-up level, 114% to 120% 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 14% to 20%.

Investors will be fully exposed to any losses.

BofA Merrill Lynch is the agent.

The notes are guaranteed by Bank of America Corp.

The notes will price in June and settle in July.

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