By Sarah Lizee
Olympia, Wash., Dec. 12 – BofA Finance LLC priced $770,000 of contingent income autocallable notes due June 11, 2026 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.3508% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each component closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless any underlying asset finishes below its 80% threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index or fund beyond 20%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable notes
|
| Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF and iShares MSCI Emerging Markets ETF
|
| Amount: | $770,000
|
| Maturity: | June 11, 2026
|
| Coupon: | 11.3508% annualized, payable monthly if each asset closes at or above its 80% coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlying asset finishes below its 80% threshold level, in which case investors will lose 1% for each 1% decline of the worst performing index or fund beyond 20%
|
| Call: | At par if each component closes at or above its initial level on any interest payment date beginning Dec. 11, 2019
|
| Initial levels: | $31.54 for oil and gas fund and $39.88 for EM fund
|
| Threshold levels: | $25.23 for oil and gas fund and $31.90 for EM fund, 80% of initial levels
|
| Pricing date: | Dec. 7
|
| Settlement date: | Dec. 12
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 4.25%
|
| Cusip: | 09709TJU6
|
© 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.
