By Sarah Lizee
Olympia, Wash., June 4 – BofA Finance LLC price $941,000 of contingent income autocallable yield notes due June 3, 2022 linked to the worst performing of the common stocks of Boeing Co., Qualcomm Inc. and Caterpillar Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 13% if each asset closes at or above its 60% threshold on the related determination date.
The notes will be automatically redeemed at par if each asset closes above 95% its initial value on any observation date beginning in August.
The payout at maturity will be par plus the coupon if all three assets close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing asset.
The notes will be 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 yield notes
|
| Underlying stocks: | Boeing Co., Qualcomm Inc. and Caterpillar Inc.
|
| Amount: | $941,000
|
| Maturity: | June 3, 2022
|
| Coupon: | 13% per year if each asset closes at or above its threshold on the related determination date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if all three assets close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing asset
|
| Call: | Automatically redeemed at par if each asset closes above 95% its initial value on any observation date beginning in August
|
| Initial levels: | $354.88 for Boeing, $65.37 for Qualcomm, $121.59 for Caterpillar
|
| Threshold levels: | $212.93 for Boeing, $39.22 for Qualcomm, $72.95 for Caterpillar; 60% of initial levels
|
| Trigger values: | $212.93 for Boeing, $39.22 for Qualcomm, $72.95 for Caterpillar; 60% of initial levels
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 3.25%
|
| Cusip: | 09709TQV6
|
© 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.
