BofA plans to price contingent income autocallables on three stocks

By Sarah Lizee

Olympia, Wash., March 15 – BofA Finance LLC plans to price contingent income autocallable notes due April 3, 2023 linked to the worst performing of the common stocks of Wayfair, Inc., Walmart, Inc. and Costco Wholesale Corp., according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 15% if each asset closes at or above its 50% threshold on the related determination date.

The notes will be automatically redeemed at par if each asset closes above its initial value on any observation date beginning in Jan. 3, 2020.

The payout at maturity will be par plus the coupon if all three assets close above their 50% coupon barrier values.

Otherwise, investors will be fully exposed to any losses of the worst performing asset.

The notes will be guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes are expected to price on March 29.

The Cusip number is 09709TPC9.

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