Chicago, April 25 – BofA Finance LLC priced $4.32 million of callable contingent income securities due Jan. 29, 2026 linked to Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.1%, paid quarterly, if the underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting May 1 at par on any quarterly call date.
At maturity the payout will be par unless the index closes below its 75% downside threshold in which case investors will be fully exposed to the decline of the index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley will act as distributor.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Callable contingent income securities
|
Underlying index: | Russell 2000 index
|
Amount: | $4.32 million
|
Maturity: | Jan. 29, 2026
|
Coupon: | 8.1% annual rate, paid quarterly, if the underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the index closes below its downside threshold level in which case investors will be fully exposed to the decline in the index
|
Call: | Starting May 1 at par on any quarterly call date
|
Initial level: | 1,978.331
|
Downside threshold: | 1,483.748, 75% of initial levels
|
Coupon barrier: | 1,483.748, 75% of initial level
|
Pricing date: | Jan. 26
|
Settlement date: | Jan. 31
|
Agent: | BofA Securities, Inc.
|
Distributor: | Morgan Stanley
|
Fees: | 2%
|
Cusip: | 09710PPT7
|
|
© 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.