New York, April 25 – BofA Finance LLC priced $24.36 million of contingent income autocallable securities due April 22, 2027 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date.
The securities will be called automatically starting July 19 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the stock closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley will act as distributor.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income autocallable securities
|
Underlying stock: | Amazon.com, Inc.
|
Amount: | $24,363,000
|
Maturity: | April 22, 2027
|
Coupon: | 12%, paid quarterly, if the underlying stock closes at or above its 70% downside threshold on the related quarterly observation date
|
Price: | Par
|
Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
|
Call: | Automatically starting July 19 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
|
Initial level: | $174.63
|
Downside threshold: | $122.24, 70% of initial level
|
Pricing date: | April 19
|
Settlement date: | April 24
|
Agent: | BofA Securities, Inc.
|
Distributor: | Morgan Stanley
|
Fees: | 2.25%
|
Cusip: | 09711BQC3
|
|
|
© 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.