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BofA to price contingent income autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., July 22 – BofA Finance LLC plans to price contingent income autocallable yield notes due July 30, 2025 linked to the worst performing of the S&P 500 index, the Euro Stoxx 50 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.5% if each underlying closes at or above its 60% coupon barrier on the observation date for that period.
Starting in July 2021, the notes will be called at par if each underlying closes at or above its initial level on any determination date.
The payout at maturity will be par unless either underlying finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the worst performing asset.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
The notes will price on July 25.
The Cusip number is 09709TTB7.
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