BofA to price contingent income callable notes on EM, financial ETFs

By Marisa Wong

Morgantown, W.Va., March 16 – BofA Finance LLC plans to price contingent income issuer callable notes due Sept. 24, 2019 linked to the worst performing of the iShares MSCI Emerging Markets exchange-traded fund and the Financial 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 will pay a contingent coupon at an annual rate of 8% if each ETF closes at or above its 70% threshold value on the determination date for that quarter.

The notes will be callable at par on any contingent interest payment date from Dec. 24, 2018 to June 24, 2019.

The payout at maturity will be par plus the final coupon unless either ETF finishes below its 70% threshold value, in which case investors will be fully exposed to any losses of the worst performing ETF.

BofA Merrill Lynch is the agent.

The notes will price on March 19.

The Cusip number is 09709TEA5.

© 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.