By Wendy Van Sickle
Columbus, Ohio, Nov. 12 – BofA Finance LLC priced $403,000 of contingent income issuer autocallable notes due Nov. 1, 2021 linked to the worst performing of the common stocks of Raytheon Co. and United Technologies Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8.15% if each underlying stock closes at or above its 65% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above its initial level on any determination date after six months.
The payout at maturity will be par unless either underlying stock finishes below its 65% threshold level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer autocallable notes
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| Underlying stocks: | Raytheon Co. and United Technologies Corp.
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| Amount: | $403,000
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| Maturity: | Nov. 1, 2021
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| Coupon: | 8.15% annualized, payable quarterly if each stock closes at or above its 65% coupon barrier on observation date for that quarter
|
| Price: | Par of $10
|
| Payout at maturity: | If each stock finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above its initial level on any interest payment date beginning April 29, 2019
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| Initial levels: | $168.35 for Raytheon and $121.09 for United Technologies
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| Threshold levels: | $109.43 for Raytheon and $78.71 for United Technologies, 65% of initial levels
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| Pricing date: | Oct. 29
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| Settlement date: | Oct. 31
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2.5%
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| Cusip: | 09709TBJ8
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