By Wendy Van Sickle
Columbus, Ohio, Oct. 19 – BofA Finance LLC priced $1.25 million of contingent income autocallable notes due April 21, 2026 linked to the Euro Stoxx Banks Price index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 7.5% if the index closes at or above its 70% threshold level on the observation date for that month.
The notes will be called at par if the index closes at or above its initial level on any quarterly call observation date starting Oct. 21, 2019.
The payout at maturity will be par plus the final coupon unless the index finishes below its 70% threshold level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable notes
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| Underlying index: | Euro Stoxx Banks Price index
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| Amount: | $1.25 million
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| Maturity: | April 21, 2026
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| Coupon: | 7.5% annualized, payable monthly if the index closes at or above its 70% threshold on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes at or above threshold level, par plus coupon; otherwise, 1% loss for each 1% decline
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| Call: | At par if the index closes at or above its initial level on any quarterly call observation date starting Oct. 21, 2019
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| Initial level: | 102.82
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| Threshold level: | 72.00, 70% of initial level
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| Pricing date: | Oct. 16
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| Settlement date: | Oct. 19
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 3%
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| Cusip: | 09709TLW9
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