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BofA eyes contingent income callable yield notes on Stoxx Banks, Russell
By Sarah Lizee
Olympia, Wash., July 9 – BofA Finance LLC plans to price contingent income issuer callable yield notes due July 29, 2022 tied to the worst performing of the Euro Stoxx Banks index and the Russell 2000 index, according to a 424B2 filing 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 9.25% if each index closes at or above its 65% coupon barrier on the determination date for that quarter.
Starting Jan. 30, 2020, the notes are callable at par on any contingent interest payment date.
The payout at maturity will be par plus the final coupon, if any, unless either index finishes below its 65% threshold level, in which case investors will be fully exposed to any losses of the worst performing index.
BofA Securities, Inc. is the agent.
The notes will price on July 26.
The Cusip number is 09709TTS0.
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