Published on 12/12/2019 in the Prospect News Structured Products Daily.
New Issue: BofA prices $10.62 million of trigger autocallable contingent yield notes on Stoxx, Russell
By Sarah Lizee
Olympia, Wash., Dec. 12 – BofA Finance LLC priced $10.62 million of trigger autocallable contingent yield notes due Dec. 1, 2022 linked to the Euro Stoxx 50 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.
The notes will pay a contingent quarterly coupon at an annual rate of 6.6% if each asset closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each asset closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless either asset finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying indexes: | Russell 2000 index, Euro Stoxx 50 index
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| Amount: | $10,624,000
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| Maturity: | Dec. 1, 2022
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| Coupon: | 6.6%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if both indexes close at or above initial levels on any quarterly observation date
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 1,624.231 for Russell, 3,705.55 for Stoxx
|
| Coupon barriers: | 1,136.962 for Russell, 2,593.89 for Stoxx; 70% of initial levels
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| Downside thresholds: | 1,136.962 for Russell, 2,593.89 for Stoxx; 70% of initial levels
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| Pricing date: | Nov. 26
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| Settlement date: | Nov. 29
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| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 05591G702
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