BofA plans 8.6% contingent income callables tied to three indexes

By Susanna Moon

Chicago, June 12 – BofA Finance LLC plans to price contingent income issuer callable notes due Jan. 4, 2021 linked to the worst performing of the Russell 2000 index, the FTSE 100 index and the Nikkei Stock Average index, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 8.6% if each index closes at or above its 60% threshold on the quarterly determination date.

The notes are callable at par on any interest payment date beginning Jan. 2, 2019.

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

The notes will be guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes are expected to price on June 26.

The Cusip number is 09709TES6.

© 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.