By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – BofA Finance LLC priced $461,000 of contingent income autocallable notes due April 30, 2026 linked to the worst 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 monthly coupon at an annual rate of 9% if each underlying asset closes at or above its 70% coupon barrier on the observation date for that month.
The notes will be called at par if each asset closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless either underlying asset finishes below its 70% threshold level, 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 agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable notes
|
| Underlying assets: | Euro Stoxx Banks Price index and VanEck Vectors Gold Miners ETF
|
| Amount: | $461,000
|
| Maturity: | April 30, 2026
|
| Coupon: | 9% annualized, payable monthly if each asset closes at or above its 70% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If each asset finishes at or above threshold level, par plus coupon; otherwise, 1% loss for each 1% decline of worse performing asset
|
| Call: | At par if each component closes at or above its initial level on any interest payment date after one year
|
| Initial levels: | 95.43 for index and $19.06 for ETF
|
| Coupon barriers: | 66.80 for index and $13.34 for ETF, 70% of initial levels
|
| Threshold levels: | 66.80 for index and $13.34 for ETF, 70% of initial levels
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 4.25%
|
| Cusip: | 09709THT1
|
|
|
© 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.
