By Kiku Steinfeld
Chicago, June 28 – BofA Finance LLC priced $916,000 of contingent income buffered autocallable yield notes due Dec. 27, 2024 linked to the lesser performing of the Invesco Solar ETF 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 9.5% 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.
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| Issue: | Contingent income buffered autocallable securities
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| Underliers: | Invesco Solar ETF and iShares Global Clean Energy ETF
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| Amount: | $916,000
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| Maturity: | Dec. 27, 2024
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| Coupon: | 9.5% per year, payable monthly if each underlier closes at or above coupon barrier level on related 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: | At par if each underlier closes at or above initial level on any quarterly determination date after one year
|
| Initial levels: | $77.81 for Invesco, $21.24 for iShares
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| Coupon barriers: | $62.25 for Invesco, $16.99 for iShares; 80% of initial levels
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| Buffer levels: | $66.14 for Invesco, $18.05 for iShares; 85% of initial levels
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| Pricing date: | Dec. 22, 2021
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| Settlement date: | Dec. 28, 2021
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 3%
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| Cusip: | 09709UWX2
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