By Wendy Van Sickle
Columbus, Ohio, Aug. 23 – BofA Finance LLC price $500,000 of contingent income autocallable yield notes due Feb. 25, 2021 linked to the worst performing of the common stocks of Qualcomm Inc., Automatic Data Processing, Inc. and AT&T, Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.4% if each stock closes at or above its 55% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each stock closes above its initial value on any quarterly call observation date after six months.
The payout at maturity will be par plus the coupon if all three stocks close above their 55% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income autocallable yield notes
|
Underlying stocks: | Qualcomm Inc., Automatic Data Processing, Inc. and AT&T, Inc.
|
Amount: | $500,000
|
Maturity: | Feb. 25, 2021
|
Coupon: | 10.4% per year if each stock closes at or above its coupon barrier on the related determination date; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par plus the coupon if all three stocks close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing stock
|
Call: | Automatically redeemed at par if each stock closes above initial value on any quarterly call observation date after six months
|
Initial levels: | $34.98 for AT&T, $167.88 for Automatic Data Processing and $76.07 for Qualcomm
|
Coupon barriers: | $19.24 for AT&T, $92.33 for Automatic Data Processing and $41.84 for Qualcomm; 55% of initial levels
|
Trigger values: | $19.24 for AT&T, $92.33 for Automatic Data Processing and $41.84 for Qualcomm; 55% of initial levels
|
Pricing date: | Aug. 20
|
Settlement date: | Aug. 23
|
Underwriter: | BofA Securities, Inc.
|
Fees: | 1%
|
Cusip: | 09709TTD3
|
|
© 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.