New Issue: BofA prices $2.11 million contingent income autocallable yield notes on four tech stocks

By William Gullotti

Buffalo, N.Y., Sept. 29 – BofA Finance LLC priced $2.11 million of contingent income autocallable yield notes due Dec. 24, 2026 tied to the stock performance of Alphabet Inc., Amazon.com, Inc., Apple Inc. and Microsoft Corp., according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at the rate of 15.2% per year if each stock closes at or above its coupon barrier level, 70% of its initial level, on the observation date that period. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.

The notes will be automatically called at par plus the coupon if each stock closes at or above its initial level on any quarterly call determination date.

If the notes are not called and each stock finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon.

If the lowest-performing stock finishes below its coupon barrier but at or above its downside threshold level, 50% of its initial level, the payout at maturity will be par. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.

The notes are guaranteed by Bank of America Corp.

BofA Securities, Inc. is the agent.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Contingent income autocallable yield notes
Underlying stocks:	Alphabet Inc., Amazon.com, Inc., Apple Inc., Microsoft Corp.
Amount:	$2,106,000
Maturity:	Dec. 24, 2026
Coupon:	15.2% per year, payable quarterly if each stock closes at or above coupon barrier level on any observation date; coupon payment events will automatically include any previously unpaid coupons
Price:	Par
Payout at maturity:	If each stock finishes at or above coupon barrier, par plus final coupon; if the worst performer finishes below coupon barrier but at or above its downside threshold, par; if any stock finishes below downside threshold level, full exposure to decline of lowest-performing stock from its initial level
Call option:	At par plus coupon if each stock closes at or above its initial level on any quarterly call determination date
Initial levels:	$131.36 for Alphabet, $129.33 for Amazon, $173.93 for Apple, $319.53 for Microsoft
Coupon barriers:	$91.95 for Alphabet, $90.53 for Amazon, $121.75 for Apple, $223.67 for Microsoft; 70% of initial levels
Downside threshold levels:	$65.68 for Alphabet, $64.67 for Amazon, $86.97 for Apple, $159.77 for Microsoft; 50% of initial levels
Strike date:	Sept. 21
Pricing date:	Sept. 25
Settlement date:	Sept. 28
Agent:	BofA Securities, Inc.
Fees:	0.25%
Cusip:	09711AR42

© 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.