BofA Finance plans autocallable step-up notes tied to Hang Seng China

By Emma Trincal

New York, June 11 – BofA Finance LLC plans to price 0% autocallable market-linked step-up notes linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.

The tenor will be approximately three years.

The notes will be called at an annual call premium of 12% if the index closes at or above its initial level on any annual call date, one and two years after the pricing date.

If the index finishes at or above the step-up value – 128% to 134% of the initial level – the payout at maturity will be par of $10 plus the index gain. The step-up value will be set at pricing.

If the index is unchanged or gains by up to the step-up level, the payout will be par plus the step-up payment of 28% to 34%, which will be set at pricing.

Investors will be exposed to any losses.

The notes are guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes will price in June and settle in July.

© 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.