By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – BofA Finance LLC priced $2.43 million of contingent income issuer callable notes due Nov. 4, 2021 linked to the common stock of Enterprise Products Partners LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9% if the underlying stock closes at or above its 75% coupon barrier on the observation date for that quarter.
The notes are callable in whole at par on any determination date after six months.
The payout at maturity will be par unless the stock finishes below its 75% downside threshold, in which case investors will be fully exposed to the loss.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable notes
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| Underlying stocks: | Enterprise Products Partners LP
|
| Amount: | $2,426,000
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| Maturity: | Nov. 4, 2021
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| Coupon: | 9% annualized, payable quarterly if stock closes at or above 75% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
|
| Call option: | In whole at par on any interest payment date beginning May 6, 2020
|
| Initial level: | $26.25
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| Downside threshold/coupon barrier: | $19.69, 75% of initial levels
|
| Pricing date: | Nov. 1
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| Settlement date: | Nov. 6
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 1.75%
|
| Cusip: | 09709TWW7
|
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