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BofA plans 8.6% contingent income callables tied to three indexes
By Susanna Moon
Chicago, April 13 – BofA Finance LLC plans to price contingent income issuer callable notes due April 30, 2020 linked to the worst performing of the Russell 2000 index, the MSCI Emerging Markets index and the Euro Stoxx 50 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.6% if each index closes at or above its 60% threshold on the quarterly determination date.
The notes are callable at par on any interest payment date from on July 30 through Jan. 30, 2020.
The payout at maturity will be par plus the coupon unless any index finishes below its 60% threshold, in which case investors will be fully exposed to any losses of the worst performing index.
The notes will be guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
The notes are expected to price on April 25.
The Cusip number is 09709TEF4.
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