By Wendy Van Sickle
Columbus, Ohio, April 21 – BofA Finance LLC priced $4.42 million of contingent income autocallable yield notes due April 5, 2028 linked to the stocks of Chubb Ltd. and Hartford Financial Services Group, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if each underlying stock closes at or above its 50% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting in April 2024 at par on any quarterly call determination date if each stock closes at or above its initial level.
If the worst performing stock gains or ends above its 50% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing stock 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 autocallable yield notes
|
| Underlying stockes: | Chubb Ltd. and Hartford Financial Services Group, Inc.
|
| Amount: | $4,417,000
|
| Maturity: | April 5, 2028
|
| Coupon: | 11%, paid quarterly, if each underlying stock closes at or above its 50% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing stock finishes at or above its 50% threshold value, par; 1% loss for every 1% that worst performing stock declines if it finishes below its threshold value
|
| Call: | Automatically starting in April 2024 at par on any quarterly call determination date if each stock closes at or above its initial level
|
| Initial levels: | $194.18 for Chubb, $69.69 for Hartford
|
| Downside thresholds: | $97.09 for Chubb, $34.85 for Hartford, 50% of initial level
|
| Coupon barriers: | $97.09 for Chubb, $34.85 for Hartford, 50% of initial level
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Agent: | BofA Securities
|
| Fees: | 2%
|
| Cusip: | 09709VPA8
|
|
|
© 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.
