E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 4/26/2019 in the Prospect News Structured Products Daily.

BofA plans contingent income buffered callable notes on ETFs

By Sarah Lizee

Olympia, Wash., April 26 – BofA Finance LLC plans to sell contingent income buffered issuer callable notes due May 5, 2021 linked to the least performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production 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 9.2502% if each underlying asset closes at or above its 75% coupon barrier on the relevant observation date.

BofA may call the notes at par on any contingent coupon payment date starting Nov. 4.

The payout at maturity will be par plus the final coupon if the least performing asset finishes above its 75% threshold value.

Otherwise, investors will be exposed to the losses of the least performing index beyond 25%.

The notes are guaranteed by Bank of America Corp.

BofA Merrill Lynch is the agent.

The notes will price April 30.

The Cusip number is 09709TQG9.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.