Published on 9/26/2018 in the Prospect News Convertibles Daily and Prospect News Structured Products Daily.
New Issue: BofA Finance sells $50 million equity-linked notes on Google
By Wendy Van Sickle
Columbus, Ohio, Sept. 26 – BofA Finance LLC priced $50 million of 0% equity-linked notes due Sept. 28, 2023 tied to the class A common stock of Alphabet Inc. with an initial conversion premium of 29.85%, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The payout at maturity will be the greater of par and par times the final stock price divided by the threshold price, 129.85% of the initial price.
BofA Merrill Lynch is the underwriter.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Equity-linked notes
|
| Underlying stock: | Alphabet Inc. (Bloomberg ticker: GOOGL), class A
|
| Amount: | $50 million
|
| Maturity: | Sept. 28, 2023
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Greater of par and par times the final stock price divided by the threshold price, 129.85% of the initial price
|
| Initial conversion premium: | 29.85%
|
| Initial reference price: | $1,179.3437
|
| Threshold price: | $1,531.3778, 129.85% of initial price
|
| Pricing date: | Sept. 24
|
| Settlement date: | Sept. 28
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 0%
|
| Cusip: | 09709TMV0
|
|
|
|
|
© 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.
