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BofA plans 8% contingent income autocallables tied to S&P GSCI crude
By Susanna Moon
Chicago, Nov. 21 – BofA Finance LLC plans to price contingent income autocallable notes due Nov. 28, 2028 linked to the S&P GSCI Crude Oil Index– Excess Return, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the underlying index closes at or above the 70% coupon barrier on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless the index finishes below its 50% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes will be guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
The notes are expected to price on Nov. 26.
The Cusip number is 09709TGN5.
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