By Wendy Van Sickle
Columbus, Ohio, March 11 – BofA Finance LLC priced $500,000 of contingent income autocallable yield notes due Feb. 29, 2024 linked to the shares of Walmart Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6.85% if the shares close at or above their coupon barrier, 60% of their level, on the observation date for that quarter.
After six months, the notes will be called at par plus any contingent coupon if the shares close above their initial level on any observation date other than the final one.
The payout at maturity will be par the final coupon due unless the stock finishes below its 60% threshold level, in which case investors will be fully exposed to the losses.
The notes are 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 shares: | Walmart Inc.
|
| Amount: | $500,000
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 6.85% annual rate, payable quarterly if the shares close at or above coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise 1% loss for each 1% decline
|
| Call: | After six months at par plus any coupon if shares close above their initial levels on any observation date other than final one
|
| Initial level: | $210.98
|
| Coupon barrier: | $137.14, 60% of initial level
|
| Downside threshold: | $137.14, 60% of initial level
|
| Pricing date: | Feb. 12
|
| Settlement date: | Feb. 18
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.35%
|
| Cusip: | 09709UDZ8
|
|
|
© 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.
