New York, April 4 – BofA Finance LLC priced $9.31 million of contingent income issuer callable yield notes due April 2, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting July 5 on any monthly call determination date.
If the index finishes above its 60% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $9.31 million
|
| Maturity: | April 2, 2026
|
| Coupon: | 9%, paid monthly, if the underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If index finishes at or above its 60% threshold value, par; 1% loss for every 1% that index declines if it finishes below its threshold value
|
| Call: | Starting July 5 on any monthly call determination date
|
| Initial level: | 4,027.81
|
| Downside threshold: | 2,416.69, 60% of initial level
|
| Coupon barrier: | 2,819.47, 70% of initial level
|
| Pricing date: | March 29
|
| Settlement date: | April 3
|
| Agent: | BofA Securities
|
| Fees: | 0.25%
|
| Cusip: | 09709VMR4
|
|
|
|
|
|
|
|
|
© 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.
