By Sarah Lizee
Olympia, Wash., July 12 – BofA Finance LLC price $1.34 million of contingent income autocallable yield notes due July 14, 2022 linked to the worst performing of the common stocks of Boeing Co. and Southwest Airlines Co., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 10.25% if each asset closes at or above its 70% threshold on the related determination date.
The notes will be automatically redeemed at par if each asset closes above 95% its initial value on any observation date.
The payout at maturity will be par plus the coupon if all three assets close above their 70% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing asset.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying stocks: | Boeing Co. and Southwest Airlines Co.
|
| Amount: | $1,335,000
|
| Maturity: | July 14, 2022
|
| Coupon: | 10.25% per year if each asset closes at or above its threshold on the related determination date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if all three assets close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing asset
|
| Call: | Automatically redeemed at par if each asset closes above 95% its initial value on any observation date
|
| Initial levels: | $352.30 for Boeing and $51.86 for Southwest
|
| Threshold levels: | $246.61 for Boeing and $36.30 for Southwest; 70% of initial levels
|
| Trigger values: | $246.61 for Boeing and $36.30 for Southwest; 70% of initial levels
|
| Pricing date: | July 10
|
| Settlement date: | July 12
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 3.125%
|
| Cusip: | 09709TUN9
|
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