Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Bank of America Corp. > News item |
BofA to price 5.65% contingent income autocalls tied to S&P, Russell
By Sarah Lizee
Olympia, Wash., Oct. 17 – BofA Finance LLC plans to price contingent income autocallable securities due April 30, 2026 linked to the lesser performing of the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5.65% if each index closes at or above its 80% coupon threshold on the observation date for that period.
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 index finishes below its 80% downside threshold, in which case investors will lose 1% for every 1% decline of the lesser performing index beyond 20%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the underwriter.
The notes will price on Oct. 26 and settle on Oct. 31.
The Cusip number is 09709TMJ7.
© 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.