By Sarah Lizee
Olympia, Wash., May 3 – BofA Finance LLC priced $942,000 of contingent income autocallable notes due May 5, 2022 linked to the worst performing of the common stocks of Twilio Inc. and Splunk Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon of 20.5% per year if each underlying stock closes at or above its 60% threshold level on the observation date for that quarter.
The notes will be called at par if each stock closes at or above 90% of its initial value on any quarterly observation date other than the final date beginning Aug. 2.
The payout at maturity will be par unless any underlying stock finishes below its threshold level, in which case investors will be fully exposed to any losses of the worst performing stock.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable notes
|
| Underlying stocks: | Twilio Inc. and Splunk Inc.
|
| Amount: | $942,000
|
| Maturity: | May 5, 2022
|
| Coupon: | 20.5% annualized, payable each quarter that each stock closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above threshold value, par; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above 90% of its initial value on any quarterly observation date other than the final date beginning Aug. 2
|
| Initial value: | $137.14 for Twilio Inc., $138.04 for Splunk Inc.
|
| Threshold value: | $82.28 for Twilio Inc., $82.82 for Splunk Inc.; 60% of initial value
|
| Pricing date: | April 30
|
| Settlement date: | May 3
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 3%
|
| Cusip: | 09709TQD6
|
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