By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – BofA Finance LLC priced $2.02 million of 7.5% fixed-coupon autocallable yield notes due Oct. 7, 2022 linked to the worst performing of the common stocks of Waste Management, Inc., Automatic Data Processing, Inc. and McDonald’s Corp., according to a 424B2 with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be automatically redeemed at par if each stock closes above its initial value on any quarterly call observation date after a year.
The payout at maturity will be par plus the coupon if all three stocks close above their 68.5% 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 agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Fixed-coupon autocallable yield notes
|
| Underlying stocks: | Waste Management, Inc., Automatic Data Processing, Inc. and McDonald’s Corp.
|
| Amount: | $2,024,000
|
| Maturity: | Oct. 7, 2022
|
| Coupon: | 7.5%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if all three stocks close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing stock
|
| Call: | Automatically redeemed at par if each stock closes above initial value on any quarterly call observation date after a year
|
| Initial levels: | $116.61 for Waste Management, $159.17 for Automatic Data, $211.69 for McDonald’s
|
| Trigger values: | $69.97 for Waste Management, $95.50 for Automatic Data, $127.01 for McDonald’s; 60% of initial levels
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 9
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 0.75%
|
| Cusip: | 09709TVY4
|
|
|
© 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.
