Published on 9/11/2017 in the Prospect News Structured Products Daily.
New Issue: Bank of America sells $2.1 million autocallable yield notes on stocks
By Wendy Van Sickle
Columbus, Ohio, Sept. 11 – BofA Finance LLC priced $2.1 million of autocallable yield notes due March 12, 2019 linked to the least performing of the common stocks of Goldman Sachs Group, Inc., MetLife, Inc. and Priceline Group Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a quarterly contingent coupon at an annual rate of 8.5%.
The notes will be called at par if each stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par unless any stock finishes below its 65% threshold level, in which case investors will be fully exposed to any losses of the least-performing stock.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable yield notes
|
| Underlying stocks: | Goldman Sachs Group, Inc., MetLife, Inc. and Priceline Group Inc.
|
| Amount: | $2.1 million
|
| Maturity: | March 12, 2019
|
| Coupon: | 8.5% per year, payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par unless any stock finishes below threshold level, in which full exposure to the losses of the least-performing stock
|
| Call: | Automatically if each stock closes at or above its initial level on any quarterly observation date
|
| Initial prices: | $214.99 for Goldman Sachs, $46.90 for MetLife, $1,847.94 for Priceline
|
| Threshold levels: | $139.744 for Goldman Sachs, $30.485 for MetLife, $1,201.161 for Priceline; 65% of initial levels
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 12
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 0%
|
| Cusip: | 09709TBG5
|
|
|
© 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.
