BofA plans 10.25% contingent income callables tied to oil, gold funds

By Susanna Moon

Chicago, Nov. 14 – BofA Finance LLC plans to price contingent income issuer callable notes due May 29, 2026 linked to the worse performing of the SPDR S&P Oil & Gas Exploration & Production ETF and the VanEck Vectors Gold Miners ETF, according to a 424B2 with the Securities and Exchange Commission.

The notes will pay a contingent monthly coupon at an annualized rate of 10.2504% if each underlying fund closes at or above its 80% threshold on a determination date for that month.

The notes are callable at par on any interest payment date beginning Nov. 28, 2019.

The payout at maturity will be par plus the coupon unless either fund finishes below its 80% threshold, in which case investors will be fully exposed to any losses of the worst performing fund.

The notes will be guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes are expected to price on Nov. 27.

The Cusip number is 09709TJT9.

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