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BofA plans to price contingent income callable notes on three indexes
By Devika Patel
Knoxville, Tenn., Sept. 24 – BofA Finance LLC plans to price contingent income issuer callable notes due March 28, 2022 linked to the lesser performing of the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each quarter, the notes will pay a contingent coupon at an annual rate of 5.5% if each index closes at or above its threshold level, 65% of its initial index level, on the determination date for that quarter.
The notes are callable at par on any quarterly determination date starting on Sept. 28, 2019 and ending on Dec. 28, 2021.
If each index finishes at or above its 65% threshold level, the payout at maturity will be par plus the final contingent coupon. If the final level of either index is less than its threshold level, investors will lose 1% for each 1% decline of the least-performing index from its initial level.
BofA Merrill Lynch is the agent.
The notes (Cusip: 09709TJJ1) will price on Sept. 25 and settle Sept. 28.
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