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Prospect News home > News index > List of issuers 3 > Headlines for 30-year U.S. dollar ICE swap rate > News item |
BofA Finance plans callable capped notes linked to ICE swap rates
By Sarah Lizee
Olympia, Wash., Jan. 27 – BofA Finance LLC plans to price callable capped notes due Jan. 30, 2035 linked to the difference between the 30-year U.S. dollar ICE swap rate and the two-year U.S. dollar ICE swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be guaranteed by Bank of America Corp.
The interest rate will be 5% for the first year. After that, the interest rate will be 8 times the amount by which the 30-year swap rate exceeds the two-year swap rate, subject to a minimum of zero and a maximum of 5% per year. Interest will be payable quarterly.
The payout at maturity will be par.
Beginning Jan. 30, 2021, the notes will be callable quarterly at par.
BofA Securities, Inc. is the agent.
The notes will price Jan. 28.
The Cusip number is 09709THJ3.
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