BofA plans contingent income autocallable yield notes on Russell, S&P

By Marisa Wong

Los Angeles, July 27 – BofA Finance LLC plans to price contingent income autocallable yield notes due Aug. 2, 2021 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.

The notes will be guaranteed by Bank of America Corp.

The notes will pay a contingent quarterly coupon at an annualized rate of 14% if each index closes at or above its 80% coupon barrier on the related quarterly determination date.

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

The payout at maturity will be par plus the final coupon if each index finishes at or above its 80% threshold value. Otherwise, investors will be fully exposed to any losses of the worst performing index.

BofA Securities, Inc. is the selling agent.

The notes will price on July 28.

The Cusip number is 09709TJ93.

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