By Kiku Steinfeld
Chicago, April 19 – BofA Finance LLC price $1.75 million of contingent income autocallable yield notes due July 6, 2022 linked to the worst performing of the SPDR S&P 500 ETF trust and the Invesco QQQ Trust, series 1, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 6% if each asset closes at or above its 65% 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 after six months.
The payout at maturity unless any asset closes par unless any asset closes below its initial level and any asset ever closes below its threshold level, in which case investors will be fully exposed to any losses of the worst performing asset.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying ETFs: | SPDR S&P 500 ETF trust and Invesco QQQ Trust, series 1
|
| Amount: | $1,752,000
|
| Maturity: | July 6, 2022
|
| Coupon: | 6% per year if each asset closes at or above its threshold on the related determination date; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any asset closes below its initial level and any asset ever closes below its threshold level, in which case investors will be fully exposed to any losses of the worst performing asset
|
| Call: | Automatically redeemed at par if each asset closes above its initial value on any observation date after six months
|
| Initial levels: | $396.33 for S&P, $319.13 for Invesco
|
| Threshold levels: | $257.61 for S&P, $207.43 for Invesco; 65% of initial levels
|
| Trigger values: | $257.61 for S&P, $207.43 for Invesco; 65% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 6
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09709UEX2
|
|
|
© 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.
