By Wendy Van Sickle
Columbus, Ohio, April 26 – BofA Finance LLC priced $7.08 million of trigger autocallable contingent yield notes due April 22, 2027 linked to the least performing of the iShares Russell 2000 exchange-traded fund and the VanEck Semiconductor ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a quarterly contingent coupon at an annualized rate of 10.21% if each ETF closes at or above its coupon barrier, 60% of its initial value, on the corresponding observation date for that quarter.
Beginning after six months, if the least performing ETF closes at or above its initial value on any quarterly observation date, the notes will be automatically called at par of $10 plus the contingent coupon for that observation date.
If the notes are not called and each ETF finishes at or above its downside threshold, 60% of its initial value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the least-performing ETF from its initial value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the underwriter and UBS Financial Services Inc. is the selling agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Trigger autocallable contingent yield notes
|
Underlying ETFs: | iShares Russell 2000 ETF and VanEck Semiconductor ETF
|
Amount: | $7.08 million
|
Maturity: | April 22, 2027
|
Coupon: | 10.2% per year, payable each quarter that each ETF closes at or above its coupon barrier on observation date for that quarter
|
Price: | Par of $10
|
Payout at maturity: | Par unless either ETF finishes below downside threshold, in which case 1% loss for every 1% decline of worst performing ETF from initial value
|
Call: | Automatically at par plus contingent coupon if least performing ETF closes at or above initial value on any quarterly observation date starting Oct. 21, 2024
|
Initial values: | $193.14for iShares Russell, $199.21 for VanEck Semiconductor
|
Coupon barriers: | $115.88 for iShares Russell, $119.53 for VanEck Semiconductor; 60% of initial values
|
Downside thresholds: | $115.88 for iShares Russell, $119.53 for VanEck Semiconductor; 60% of initial values
|
Pricing date: | April 22
|
Settlement date: | April 24
|
Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
|
Fees: | 2%
|
Cusip: | 09710R219
|
|
© 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.