BofA to price contingent income autocallables tied to Russell, Stoxx

Chicago, Jan. 7 – BofA Finance LLC plans to price contingent income autocallable securities due Jan. 26, 2029 linked to the lesser performing of the Russell 2000 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annual rate of between 8% and 9% if each index closes at or above its 72.5% coupon barrier on the observation date for that period. The coupon will be set at pricing.

The notes will be called at par plus the contingent coupon if each index closes at or above its initial level on any call observation date after one year, excluding the final date.

The payout at maturity will be par plus the coupon if both underlyings close above 72.5% of their initial level. If the lowest performing index closes between 50% and 72.5% of its initial value, the payout will be par. If the least performing index is less than 50% of its initial value investors will lose 1% for every 1% decline of the lesser performing index.

The notes are guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes will price on Jan. 28 and settle Jan. 31.

The Cusip number is 09709THZ7.

© 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.