BofA plans contingent income notes linked to biotech ETF, Euro Stoxx

By Angela McDaniels

Tacoma, Wash., Nov. 8 – BofA Finance LLC plans to price contingent income autocallable yield notes due Nov. 20, 2024 linked to the Euro Stoxx 50 index and the SPDR S&P Biotech exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

Each quarter, the notes will pay a contingent coupon at the rate of 8.05% per year if each underlying closes at or above its threshold value, 60% of its initial level, on the observation date for that quarter.

Beginning in November 2020, the notes will be automatically called at par if each underlying closes at or above its initial level on any observation date other than the final one.

If the notes are not called and each underlying finishes at or above its threshold value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the lesser-performing underlying declines from its initial level.

The notes will be guaranteed by Bank of America Corp.

BofA Securities Inc. is the agent.

The notes will price Nov. 15.

The Cusip number is 09709TWZ0.

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