Chicago, Nov. 1 – BofA Finance LLC priced $364,000 of contingent income autocallable yield notes due April 1, 2024 linked to the worst performing of the common stocks of Citigroup Inc., Micron Technology, Inc. and Microsoft Corp., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 12% if each stock closes at or above its 60% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each stock closes above its initial value on any quarterly call observation date after six months.
The payout at maturity will be par plus the coupon if each stocks close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income autocallable yield notes
|
Underlying stocks: | Citigroup Inc., Micron Technology, Inc. and Microsoft Corp.
|
Amount: | $364,000
|
Maturity: | April 1, 2024
|
Coupon: | 12% annual rate if each stock closes at or above its coupon barrier on the related determination date; payable monthly
|
Price: | Par
|
Payout at maturity: | Par plus the coupon if all stocks close above their trigger values; otherwise, investors will be fully exposed to the losses of the worst performing stock
|
Call: | Automatically at par if each stock closes at or above its initial value on any quarterly call observation date after six months
|
Initial levels: | $73.02 for Citigroup, $87.99 for Micron, $236.48 for Microsoft
|
Coupon barriers/triggers: | $43.81 for Citigroup, $52.79 for Micron, $141.89 for Microsoft; 60% of initial levels
|
Pricing date: | March 26
|
Settlement date: | March 31
|
Selling agent: | BofA Securities, Inc.
|
Fees: | 3.5%
|
Cusip: | 09709UED6
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.