New York, April 26 – BofA Finance LLC priced $7.81 million of contingent income autocallable securities due April 24, 2025 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.15%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity, the payout will be par unless the stock finishes below its 70% downside threshold level, in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley Wealth Management will act as distributor.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income autocallable securities
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Underlying stock: | Amazon.com, Inc.
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Amount: | $7.81 million
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Maturity: | April 24, 2025
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Coupon: | 11.15%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date
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Price: | Par
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Payout at maturity: | Par unless the stock finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the stock
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Call: | Automatically at par if the closing price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
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Initial level: | $174.63
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Downside threshold: | $122.24, 70% of initial level
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Pricing date: | April 19
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Settlement date: | April 24
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Agent: | BofA Securities, Inc.
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Distributor: | Morgan Stanley Wealth Management
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Fees: | 1.75%
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Cusip: | 09711BQB5
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