By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – BofA Finance LLC priced $24.64 million of contingent income autocallable yield notes due Jan. 26, 2023 linked to the worst performing of the Communication Services Select Sector SPDR fund, Financial Select Sector SPDR fund and SPDR S&P Regional Banking ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 12.402947% if each fund closes at or above its 70% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each fund closes above its initial value on any quarterly call observation date.
The payout at maturity will be par plus the coupon if each fund finishes above its 70% trigger value.
Otherwise, investors will be fully exposed to any losses of the worst performing fund.
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 funds: | Communication Services Select Sector SPDR fund, Financial Select Sector SPDR fund and SPDR S&P Regional Banking ETF
|
Amount: | $24,637,000
|
Maturity: | Jan. 26, 2023
|
Coupon: | 12.402947% per year if each fund closes at or above its coupon barrier on the related determination date; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par plus the coupon if each fund finishes above its trigger value; otherwise, investors will be fully exposed to any losses of the worst performing fund
|
Call: | Automatically at par if each fund closes above initial value on any quarterly call observation date
|
Initial levels: | $68.84 for Communication Services Select, $30.34 for Financial Select, $57.96 for S&P Regional Banking
|
Coupon barriers: | $48.19 for Communication Services Select, $21.24 for Financial Select, $40.57 for S&P Regional Banking; 70% of initial levels
|
Trigger values: | $48.19 for Communication Services Select, $21.24 for Financial Select, $40.57 for S&P Regional Banking; 70% of initial levels
|
Pricing date: | Jan. 22
|
Settlement date: | Jan. 28
|
Selling agent: | BofA Securities, Inc.
|
Fees: | 1.75%
|
Cusip: | 09709T5D9
|
|
|
|
© 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.