BofA plans contingent income autocallables linked to Boeing, Southwest

By Angela McDaniels

Tacoma, Wash., July 9 – BofA Finance LLC plans to price contingent income autocallable yield notes due July 14, 2022 linked to the lesser performing of the common stocks of Boeing Co. and Southwest Airlines Co., according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon if each stock closes at or above its threshold value, 70% of its initial share price, on the observation date for that quarter. The contingent coupon rate is expected to be 10.15% to 10.25% per year and will be set at pricing.

The notes will be automatically called at par if each stock closes at or above its initial share on any quarterly observation date.

If the notes are not called, the payout at maturity will be par unless either stock finishes below its threshold value, in which case investors will lose 1% for every 1% that the lesser-performing stock declines from its initial share price.

The notes will be guaranteed by Bank of America Corp.

BofA Securities Inc. is the agent.

The notes will price July 10.

The Cusip number is 09709TUN9.

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