By Emma Trincal
New York, Oct. 28 – BofA Finance LLC priced $1.2 million of contingent income buffered autocallable yield notes due Oct. 31, 2024 linked to the lesser performing of the Invesco Solar exchange-traded fund and the iShares Global Clean Energy ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each month, the notes will pay a contingent coupon at the rate of 8.35% per year if each underlier closes at or above its coupon barrier level, 80% of its initial level, on the determination date for that month.
The notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par unless either underlier finishes below its buffer level, 85% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 15%.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income buffered autocallable securities
|
| Underlying ETFs: | Invesco Solar ETF and iShares Global Clean Energy ETF
|
| Amount: | $1,197,000
|
| Maturity: | Oct. 31, 2024
|
| Coupon: | 8.35% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless any underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 15%
|
| Call: | Automatic call at par if each underlier closes at or above initial level on any quarterly determination date after one year
|
| Initial levels: | $89.69 for Invesco Solar, $23.75 for iShares Global Clean Energy
|
| Coupon barriers: | $71.75 for Invesco Solar, $19 for iShares Global Clean Energy; 80% of initial levels
|
| Buffer levels: | $76.24 for Invesco Solar, $20.19 for iShares Global Clean Energy; 85% of initial levels
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 29
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 3%
|
| Cusip: | 09709UTR9
|
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