BofA to price contingent income autocalls linked to oil, gold ETFs

By Sarah Lizee

Olympia, Wash., Nov. 27 – BofA Finance LLC plans to price contingent income autocallable notes due June 26, 2026 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 12.5004% if each ETF closes at or above its 80% threshold on the determination date for that month.

The notes will be called at par if each ETF closes at or above its initial level on any interest payment date after one year.

The payout at maturity will be par plus the coupon unless either ETF finishes below its 80% threshold, in which case investors will be fully exposed to any losses of the worse performing ETF beyond 20%.

The notes will be guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes are expected to price on Dec. 21.

The Cusip number is 09709TMT5.

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