By Susanna Moon
Chicago, July 31 – BofA Finance LLC priced $2.01 million of contingent income autocallable notes due July 24, 2019 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 16% if the stock closes at or above the barrier level, 60% of the initial share price, on the observation date for that quarter.
The notes will be called at par if the stock closes at or above the initial level on any quarterly observation date.
If the notes are not called, the payout at maturity will be par unless the final share price is less than the barrier level, in which case the payout will be a number of shares equal to $1,000 divided by the initial share price or, at the issuer’s option, the cash equivalent.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable notes
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| Underlying stock: | Advanced Micro Devices, Inc. (Symbol: AMD)
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| Amount: | $2,005,000
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| Maturity: | July 24, 2019
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| Coupon: | 16% per year, payable quarterly if shares close at or above barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 70.8717 AMD shares
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| Call: | At par plus contingent coupon if shares close at or above initial level on any determination date
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| Initial share price: | $14.11
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| Downside threshold: | $8.47, 60% of initial share price
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| Pricing date: | July 25
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| Settlement date: | July 28
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| Agent: | BofA Merrill Lynch
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| Fees: | 3.5%
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| Cusip: | 09709TAU5
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