BofA Finance LLC Announces Pricing of Cash-Settled Equity-Linked Notes Linked to the Common Stock of Voya Financial, Inc. Due...
April 05 2018 - 5:17PM
Business Wire
BofA Finance LLC (the “Issuer” or “BofA Finance”) today
announces the pricing of its public offering of $250 million of its
Cash-Settled Equity-Linked Notes Linked to the Common Stock of Voya
Financial, Inc. (“Voya”) due May 1, 2023 (the “Notes”). Bank of
America Corporation (“BAC”) will fully and unconditionally
guarantee the Issuer’s obligations under the Notes.
The Notes will bear interest at a rate of 0.25 percent per year,
payable semi-annually in arrears on May 1 and November 1 of each
year, beginning November 1, 2018, and will mature on May 1, 2023
unless earlier converted (for cash) at the option of the holder.
The Notes will be cash-settled only at maturity or upon early
conversion. The amount of cash payable at maturity or upon early
conversion will be based on the volume-weighted average price of
the common stock of Voya.
The threshold price (the “Threshold Price”) of the Notes will be
set at a 37.5 percent premium to the initial reference price (the
“Initial Reference Price”) of the Notes, which will equal the
arithmetic average of the volume-weighted average prices of one
share of Voya common stock over the five consecutive trading days
beginning on, and including, April 6, 2018. The Threshold Price and
Initial Reference Price are expected to be announced after the end
of the five trading day period.
The Notes will be issued with a minimum purchase of $1,000 and
whole multiples of $1,000 in excess thereof at an issue price of
100 percent of the principal amount. Settlement and delivery of the
Notes is expected to take place on April 10, 2018. Merrill Lynch,
Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) is acting
as Sole Book Running Manager.
BofA Finance and BAC have filed a registration statement (which
includes a prospectus) with the Securities and Exchange Commission
(“SEC”) for the notes that are described in this document. Before
you invest, you should carefully read the prospectus in that
registration statement and other documents that BofA Finance and
BAC have filed with the SEC for more complete information about
BofA Finance, BAC and this offering. You may obtain these documents
without cost by visiting EDGAR on the SEC website at www.sec.gov.
BofA Finance's Central Index Key, or ClK, on the SEC website is
1682472 and BAC’s CIK on the SEC website is 70858. Alternatively,
Merrill Lynch will arrange to send you the prospectus and other
documents relating to any offering described in this document if
you so request by calling toll-free 1.800.294.1322. BofA Finance
and BAC face risks that are specific to their respective
businesses, and we encourage you to carefully consider these risks
before making an investment in their respective securities.
Bank of AmericaBank of America is one of the world's leading
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
47 million consumer and small business relationships with
approximately 4,500 retail financial centers, approximately 16,000
ATMs, and award-winning digital banking with approximately 35
million active users, including approximately 24 million mobile
users. Bank of America is a global leader in wealth management,
corporate and investment banking and trading across a broad range
of asset classes, serving corporations, governments, institutions
and individuals around the world. Bank of America offers
industry-leading support to approximately 3 million small business
owners through a suite of innovative, easy-to-use online products
and services. The company serves clients through operations in all
50 states, the District of Columbia, the U.S. Virgin Islands,
Puerto Rico and more than 35 countries. Bank of America Corporation
stock (NYSE: BAC) is listed on the New York Stock Exchange.
For more Bank of America news, including dividend announcements
and other important information, visit the Bank of America
newsroom. Click here to register for news email alerts.
www.bankofamerica.com
View source
version on businesswire.com: https://www.businesswire.com/news/home/20180405006287/en/
Investors May Contact:Lee McEntire, Bank of America,
1.980.388.6780Jonathan G. Blum, Bank of America (Fixed Income),
1.212.449.3112Reporters May Contact:Jerry Dubrowski, Bank of
America, 1.646.855.1195jerome.f.dubrowski@bankofamerica.com
Bank of America (NYSE:BAC)
Historical Stock Chart
From Aug 2024 to Sep 2024
Bank of America (NYSE:BAC)
Historical Stock Chart
From Sep 2023 to Sep 2024