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BofA plans 12.25% contingent income autocalls tied to index, ETF
By Sarah Lizee
Olympia, Wash., Oct. 15 – BofA Finance LLC plans to price contingent income autocallable securities due April 22, 2026 linked to the lesser performing of the Euro Stoxx Banks Price index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 12.25% if each asset closes at or above its 80% coupon threshold on the observation date for that quarter.
The notes will be called at par plus the contingent coupon if each asset closes at or above its initial level on any call valuation date after one year.
The payout at maturity will be par unless either asset finishes below its 70% downside threshold, in which case investors will be fully exposed to any losses of the worse performing asset.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the selling agent.
The notes will price on Oct. 17.
The Cusip number is 09709TMA6.
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