New York, May 10 – BofA Finance LLC priced $1.01 million of contingent income autocallable notes due May 10, 2019 linked to Hertz Global Holdings, Inc. stock, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 19% if the stock closes at or above the barrier level, 60% of the initial share price, on a determination date for that quarter.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial share price on any quarterly determination date.
The payout at maturity will be par plus the final contingent coupon unless the stock finishes below its 60% barrier level, in which case investors will be fully exposed to any losses.
BofA Merrill Lynch is the agent.
The notes are guaranteed by Bank of America Corp.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Hertz Global Holdings, Inc.
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| Amount: | $1,014,000
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| Maturity: | May 10, 2019
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| Coupon: | 19% per year, payable quarterly if shares close at or above barrier level on determination date for that quarter
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| Price: | Par
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| Payout at maturity: | If final share price is greater than or equal to barrier level, par plus final contingent coupon; otherwise, 1% loss for every 1% that final share price is less than initial share price
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| Call: | At par plus contingent coupon if shares close at or above initial level on any determination date
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| Initial share price: | $14.98
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| Barrier level: | $8.988, 60% of initial share price
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| Pricing date: | May 9
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| Settlement date: | May 10
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| Agent: | BofA Merrill Lynch
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| Fees: | 3.5%
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| Cusip: | 09709TAL5
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