New Issue: BofA sells $1 million 7.05% fixed income issuer callable yield notes on S&P, Russell

By Kiku Steinfeld

Chicago, Nov. 22 – BofA Finance LLC priced $1 million of 7.05% fixed income issuer callable yield notes due March 21, 2025 linked to the worst performing of the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable quarterly.

The notes can be called at par on any quarterly determination date after six months.

The payout at maturity will be par unless any index finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.

The notes are guaranteed by Bank of America Corp.

BofA Securities, Inc. is the selling agent.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Fixed income issuer callable yield notes
Underlying assets:	Russell 2000 index and S&P 500 index
Amount:	$1 million
Maturity:	March 21, 2025
Coupon:	7.05% annualized, payable quarterly
Price:	Par
Payout at maturity:	If each index finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing index
Call option:	At par on any quarterly determination date after six months
Initial levels:	4,463.12 for S&P, 2,086.143 for Russell
Downside thresholds:	2,677.87 for S&P, 1,251.686 for Russell, 60% of initial levels
Pricing date:	March 21
Settlement date:	March 23
Selling agent:	BofA Securities, Inc.
Fees:	0.3%
Cusip:	09709UL30

© 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.