BofA eyes contingent income callable notes on indexes, energy fund

By Sarah Lizee

Olympia, Wash., June 5 – BofA Finance LLC plans to price contingent income issuer callable notes due Dec. 10, 2021 linked to the least performing of the S&P 500 index, the Russell 2000 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

Each quarter, the notes pay a contingent coupon at the rate of 7.05% per year if each underlier closes at or above its threshold value, 60% of its initial level, on the observation date for that quarter.

The payout at maturity will be par unless any underlier finishes below its threshold value, in which case investors will lose 1% for every 1% that the least-performing underlier declines from its initial level.

Beginning June 11, 2020, the notes will be callable at par on any interest payment date.

BofA Merrill Lynch is the agent.

The notes will price on June 7.

The Cusip number is 09709TSU6.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.