By Sarah Lizee
Olympia, Wash., March 20 – BofA Finance LLC priced $1.23 million of contingent income autocallable notes due March 21, 2022 linked to the worst performing of the common stocks of Gilead Sciences Inc. and Marathon Petroleum Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 14.75% if each underlying stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless either underlying stock finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the worst performing stock.
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 stocks: | Gilead Sciences Inc. and Marathon Petroleum Corp.
|
| Amount: | $1,226,000
|
| Maturity: | March 21, 2022
|
| Coupon: | 14.75% annualized, payable quarterly if each stock closes at or above its 60% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above its initial level on any interest payment date beginning Sept. 23
|
| Initial levels: | $65.02 for Gilead and $62.08 for Marathon
|
| Threshold levels: | $39.01 for Gilead and $37.25 for Marathon, 60% of initial levels
|
| Pricing date: | March 18
|
| Settlement date: | March 21
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | None
|
| Cusip: | 09709TPE5
|
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