New Issue: BofA sells $1.37 million 5.5% fixed-income autocallable yield notes on S&P, Russell

By Wendy Van Sickle

Columbus, Ohio, March 12 – BofA Finance LLC priced $1.37 million of 5.5% fixed-income autocallable yield notes due May 26, 2022 linked to the lesser performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes will be called at par if each index closes at or above its initial level on any quarterly determination date after six months

The payout at maturity will be par unless the lesser performing index finishes below its 75% threshold value, in which case investors will be fully exposed to the losses of that index.

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:	Fixed-income autocallable yield notes
Underlying indexes:	Russell 2000 index and S&P 500 index
Amount:	$1,366,000
Maturity:	May 26, 2022
Coupon:	5.5% annualized, payable quarterly
Price:	Par
Payout at maturity:	Par unless lesser performing index finishes below threshold value, in which case 1% loss for each 1% decline of lesser performing index
Call:	At par if each index closes at or above its initial level on any quarterly observation after six months
Initial levels:	3,811.37 for S&P, 2,231.314 for Russell
Knock-in levels:	2,911.03 for S&P, 1,673.486 for Russell, 75% of initial levels
Pricing date:	Feb. 23
Settlement date:	Feb. 26
Selling agent:	BofA Securities, Inc.
Fees:	2%
Cusip:	09709UAX6

© 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.