Published on 3/29/2019 in the Prospect News Structured Products Daily.
New Issue: BofA price $110,000 contingent income autocalls on Nasdaq, the Dow
By Sarah Lizee
Olympia, Wash., March 29 – BofA Finance LLC priced $110,000 of contingent income autocallable notes due Sept. 28, 2026 linked to the worse performing of the Nasdaq-100 index and the Dow Jones industrial average, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 5.151% if each underlying index closes at or above its 80% coupon barrier on the observation date for that period.
The notes will be called at par if each underlying component closes at or above its initial level on any quarterly determination 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 be fully exposed to any losses of the worse performing index.
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: | Nasdaq-100 index and the Dow Jones industrial average
|
| Amount: | $110,000
|
| Maturity: | Sept. 28, 2026
|
| Coupon: | 5.151% annualized, payable monthly if each index closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Call: | At par if each component closes at or above its initial level on any quarterly date after one year
|
| Payout at maturity: | If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing index
|
| Initial levels: | 7,351.150 for Nasdaq, 25,657.73 for Dow
|
| Coupon barriers: | 5,880.920 for Nasdaq, 20,526.18 for Dow; 80% of initial levels
|
| Downside thresholds: | 5,880.920 for Nasdaq, 20,526.18 for Dow; 80% of initial levels
|
| Pricing date: | March 26
|
| Settlement date: | March 29
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 4%
|
| Cusip: | 09709TNV9
|
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