Published on 2/6/2020 in the Prospect News Structured Products Daily.
New Issue: BofA sells $4.09 million trigger autocallable contingent yield notes on Russell, S&P, Stoxx
By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – BofA Finance LLC priced $4.09 million of trigger autocallable contingent yield notes due Jan. 31, 2025 linked to the Euro Stoxx 50 index, the Russell 2000 index and the S&P 500 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 6.52% if each underlier closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be automatically called at par plus the coupon if each index closes above its initial level on any quarterly observation date beginning after one year.
The payout at maturity will be par plus the coupon due unless any underlier finishes below the 70% downside threshold, in which case investors will lose 1% for each 1% decline of the worst performing underlier from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities and UBS Financial Services 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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| Underliers: | Euro Stoxx 50 index, Russell 2000 index and S&P 500 index
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| Amount: | $4,094,000
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| Maturity: | Jan. 31, 2025
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| Coupon: | 6.52%, payable quarterly if each underlier closes at or above coupon barrier on observation date
|
| Price: | Par of $10
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| Call: | Automatically at par plus the coupon if each index closes above its initial level on any quarterly observation date beginning after one year
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| Payout at maturity: | Par plus any coupon due if all indexes close above 70% of initial level; otherwise 1% for each 1% decline of the worst performing underlier from initial level
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| Initial levels: | 1,602.63 for Russell, 3,093.20 for S&P
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| Coupon barriers: | 3,736.36 for Stoxx, 1,649.221 for Russell, 3,273.40 for S&P, 70% of initial levels
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| Downside thresholds: | 2,615.45 for Stoxx, 1,154.455 for Russell, 2,291.38 for S&P, 70% of initial levels
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| Pricing date: | Jan. 29
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| Settlement date: | Jan. 31
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| Agents: | BofA Securities and UBS Financial Services Inc.
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| Fees: | 2.5%
|
| Cusip: | 05591G868
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