By Wendy Van Sickle
Columbus, Ohio, Feb 9 – BofA Finance LLC priced $2.5 million of contingent income autocallable securities due Aug. 17, 2018 linked to the S&P 500 index, the Russell 2000 index and the iShares MSCI EAFE exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.
If each asset closes at or above the downside threshold level, 70% of its initial level, on a monthly determination date, the notes will pay a contingent payment that month at an annualized rate of 7.6%.
The notes will be called at par of $10 plus the contingent coupon if each asset closes at or above its initial level on any quarterly call observation date.
If the final level of the least performing asset is greater than or equal to the downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% that the final level of the least performing asset is less than the initial level.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable securities
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| Underlying assets: | S&P 500 index, Russell 2000 index and iShares MSCI EAFE exchange-traded fund
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| Amount: | $2.5 million
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| Maturity: | Aug. 17, 2018
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| Coupon: | 7.6% per year, payable monthly if each asset closes at or above downside threshold level on determination date for that month
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| Price: | Par of $10.00
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| Payout at maturity: | If final level of each asset is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final level of least performing asset is less than initial level
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| Call: | At par plus contingent coupon if all assets close at or above initial level on any quarterly call observation date
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| Initial levels: | 2,290.75 for S&P; 1,366.730 for Russell and $60.00 for ETF
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| Downside thresholds: | 1,603.53 for S&P; 956.711 for Russell and $42.00 for ETF, 70% of initial levels
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| Pricing date: | Feb. 3
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| Settlement date: | Feb. 10
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| Agent: | BofA Merrill Lynch
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| Fees: | 0%
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| Cusip: | 09709TAF8
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