BofA plans contingent income buffered autocalls on ETFs

By Wendy Van Sickle

Columbus, Ohio, March 21 – BofA Finance LLC plans to sell contingent income autocallable buffered notes due Sept. 28, 2026 linked to the least performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production 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 at least 9.25% if each underlying asset closes at or above its 70% coupon barrier on the relevant observation date.

The notes will be called at par plus the coupon if each underlying component closes at or above its initial level on any observation date starting on March 23, 2020.

The payout at maturity will be par plus the final coupon if the least performing asset finishes above its 80% threshold value.

Otherwise, investors will be exposed to the losses of the least performing index beyond 20%.

The notes are guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes will price March 25.

The Cusip number is 09709TPH8.

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