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BofA to price contingent income autocallable yield notes on indexes
By Sarah Lizee
Olympia, Wash., April 9 – BofA Finance LLC plans to price contingent income autocallable yield notes due Oct. 28, 2022 linked to the worst performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 6% to 7% if each underlying index closes at or above its 75% coupon barrier on the observation date for that period.
The notes will be called at par if each index closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless either underlying index finishes below its 75% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
The notes will price on April 26.
The Cusip number is 09709TPY1.
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