By Sarah Lizee
Olympia, Wash., Dec. 11 – BofA Finance LLC priced $505,000 of contingent income autocallable notes due Dec. 12, 2023 linked to the S&P GSCI Crude Oil Index– Excess Return, according to a 424B2 with the Securities and Exchange Commission.
Initially, the notes will pay a quarterly coupon at an annual rate of 8%. Beginning March 12, 2020, the notes will pay a contingent quarterly coupon at an annual rate of 7.5% if the underlying index closes at or above the 50% coupon barrier on the determination date for that quarter.
The notes will be called at par plus the contingent coupon if the index closes at or above its initial level on any determination date after March 12, 2020.
The payout at maturity will be par unless the index finishes below its 50% downside threshold, in which case investors will lose 1% for each 1% decline.
The notes will be guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable notes
|
| Underlying index: | S&P GSCI Crude Oil Index– Excess Return
|
| Amount: | $505,000
|
| Maturity: | Dec. 12, 2023
|
| Coupon: | 8% initially, payable quarterly; beginning March 12, 2020, contingent quarterly coupon at an annual rate of 7.5% if the underlying index closes at or above the 50% coupon barrier on the determination date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above threshold level, par plus coupon; otherwise, 1% loss for each 1% decline
|
| Call: | At par if the index closes at or above its initial level on any quarterly call observation date starting March 12, 2020
|
| Initial level: | 157.8389
|
| Threshold level: | 78.9195, 50% of initial level
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 12
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 3%
|
| Cusip: | 09709TGS4
|
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