By Wendy Van Sickle
Columbus, Ohio, Dec. 10 – BofA Finance LLC priced $1 million of contingent income issuer callable yield notes due Dec. 9, 2021 linked to the shares of Citigroup, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 16% if the stock closes at or above its coupon barrier, 80% of its initial level, on the observation date for that period.
The notes are callable at par plus the contingent coupon on any quarterly call observation date.
The payout at maturity will be par plus the coupon unless any stock finishes below its 80% threshold level, in which case investors will be fully exposed to any losses of the stock.
The notes are 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 issuer callable yield notes
|
| Underlying shares: | Citigroup, Inc.
|
| Amount: | $1 million
|
| Maturity: | Dec. 9, 2021
|
| Coupon: | 16% annual rate, payable quarterly if the stock closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the stock finishes at or above downside threshold, par plus coupon; otherwise 1% loss for each 1% decline of stock
|
| Call option: | Callable at par plus coupon on any quarterly call observation date
|
| Initial level: | $58.62
|
| Coupon barrier: | $46.90, 80% of initial levels
|
| Downside threshold: | $46.90, 80% of initial levels
|
| Pricing date: | Dec. 4
|
| Settlement date: | Dec. 9
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.25%
|
| Cusip: | 09709T3R0
|
|
|
|
|
© 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.
