By Wendy Van Sickle
Columbus, Ohio, Nov. 6 – BofA Finance LLC priced $1.07 million of contingent income issuer autocallable notes due April 28, 2026 linked to the worst performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.25% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each component closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless any underlying asset finishes below its 80% threshold level, in which case investors will be fully exposed to any losses of the worst performing index or fund.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer autocallable notes
|
| Underlying assets: | SPDR S&P Oil & Gas Exploration & Production ETF and VanEck Vectors Gold Miners ETF
|
| Amount: | $1,066,000
|
| Maturity: | April 28, 2026
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| Coupon: | 11.25% annualized, payable monthly if each asset closes at or above its 80% coupon barrier on observation date for that month
|
| Price: | Par of $10
|
| Payout at maturity: | If each asset finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing index or fund
|
| Call: | At par if each component closes at or above its initial level on any interest payment date beginning Oct. 28, 2019
|
| Initial levels: | $35.92 for oil and gas fund and $19.06 for Gold Miners
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| Threshold levels: | $28.74 for oil and gas fund and $55.16 for Gold Miners, 80% of initial levels
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 4.25%
|
| Cusip: | 09709TLE9
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