BofA to price contingent income autocallable yield notes on Dow, S&P

By Sarah Lizee

Olympia, Wash., July 20 – BofA Finance LLC plans to price contingent income autocallable yield notes due July 28, 2022 linked to the worst performing of the S&P 500 index and the Dow Jones industrial average, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 6.55% if each index closes at or above its 70% coupon barrier on the related determination date.

The notes will be automatically redeemed at par if each index closes above its initial value on any quarterly call observation date after three months.

The payout at maturity will be par plus the coupon if both indexes close above their 70% trigger values.

Otherwise, investors will be fully exposed to any losses of the worst performing index.

The notes will be guaranteed by Bank of America Corp.

BofA Securities, Inc. is the selling agent.

The notes will price on July 23.

The Cusip number is 09709TJ77.

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