BofA to price contingent income callable notes on Russell, Euro Stoxx

By Devika Patel

Knoxville, Tenn., Aug. 23 – BofA Finance LLC plans to price contingent income issuer callable notes due Sept. 1, 2027 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filed with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

Each quarter, the notes will pay a contingent coupon at an annual rate of 8% if each index closes at or above its coupon barrier level, 75% of its initial index level, on the determination date for that quarter.

The notes are callable at par on any quarterly determination date starting on Sept. 4, 2018 and ending on June 1, 2027.

If each index finishes at or above its 60% threshold level, the payout at maturity will be par plus the final contingent coupon, if any. If the final level of either index is less than its threshold level, investors will lose 1% for each 1% decline of the least-performing index from its initial level.

BofA Merrill Lynch is the agent.

The notes (Cusip: 09709TBB6) will price on Aug. 25 and settle Aug. 30.

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