By William Gullotti
Buffalo, N.Y., March 1 – BofA Finance LLC priced $7.65 million of 0% autocallable market-linked step-up notes due Feb. 27, 2026 linked to an equally-weighted stock basket, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The basket consists of the stocks of Goldman Sachs Group, Inc. with a 33.34% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.33% weight.
The notes will be automatically called at par plus a 17.05% annual call premium if the basket closes at or above its initial level on any annual observation date.
If the basket finishes above the step-up level, 140% of the initial level, the payout at maturity will be par plus the basket gain.
If the basket finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 40%.
Investors will be fully exposed to any basket decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying stocks: | Goldman Sachs Group, Inc. (33.34% weight), JPMorgan Chase & Co. (33.33% weight), Morgan Stanley (33.33% weight)
|
| Amount: | $7,650,350
|
| Maturity: | Feb. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the basket finishes above the step-up level, par plus the basket gain; if the basket finishes flat or gains up to the step-up level, par plus 40%; otherwise, full exposure to basket decline from initial level
|
| Call: | Automatically at par plus a 17.05% annual call premium if the basket closes at or above its initial level on any annual observation date
|
| Initial level: | $363.54 for Goldman Sachs, $139.67 for JPMorgan, $97.94 for Morgan Stanley
|
| Step-up value: | 140% of initial level
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 2
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06054E523
|
|
|
© 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.
