BofA to price contingent income autocallables tied to three stocks

By Sarah Lizee

Olympia, Wash., March 12 – BofA Finance LLC plans to price contingent income autocallable notes due March 27, 2023 linked to the worst performing of the common stocks of Nvidia Corp. and Apple Inc., and the American Depositary Shares of Teva Pharmaceutical Industries Ltd., according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent quarterly coupon at an annualized rate of 18% to 21% if each asset closes at or above its 60% threshold on the quarterly determination date.

The notes will be automatically redeemed at par if all three assets close above their initial values on any observation date beginning in December 2019.

The payout at maturity will be par plus the coupon if all three assets close above their 60% coupon barrier values.

The payout will be par if the lowest performing asset closes below 60% of its initial value and above its 50% threshold value.

If the lowest performing asset closes below 50% of its initial level investors will be fully exposed to any losses of the worst performing asset.

The notes will be guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes are expected to price on March 22.

The Cusip number is 09709TPB1.

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