New York, Feb. 5 – BofA Finance LLC priced $1.36 million of fixed income autocallable yield notes due Feb. 4, 2027 linked to the common stocks of Advanced Micro Devices, Inc., Target Corp. and Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3%, paid monthly.
The securities may be called automatically at par plus the fixed coupon if each stock closes at or above its initial level on any monthly determination date starting in July 2024.
If the worst performing stock finishes at or above its 60% threshold value, the payout at maturity will be par plus the fixed coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing stock declines from 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: | Fixed income autocallable yield notes
|
| Underlying stocks: | Advanced Micro Devices, Inc., Target Corp. and Tesla, Inc.
|
| Amount: | $1,359,000
|
| Maturity: | Feb. 4, 2027
|
| Coupon: | 9.3%, paid monthly
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above its 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing stock declines from initial level
|
| Call: | Automatically at par plus the fixed coupon if each stock closes at or above its initial level on any monthly determination date starting in July 2024
|
| Initial levels: | $172.06 for Advanced Micro Devices, $140.52 for Target and $191.59 for Tesla
|
| Downside thresholds: | $103.24 for Advanced Micro Devices, $84.31 for Target and $114.95 for Tesla, 60% of initial levels
|
| Pricing date: | Jan. 30
|
| Settlement date: | Feb. 2
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 3.5%
|
| Cusip: | 09710PNC6
|
|
|
|
|
© 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.
