By Kiku Steinfeld
Chicago, Sept. 7 – BofA Finance LLC priced $520,000 of contingent income buffered autocallable yield notes due Jan. 30, 2025 linked to the least 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 will pay a contingent monthly coupon at an annual rate of 8.75% if each ETF closes at or above its coupon barrier, 80% of its initial level, on the observation date for that month.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par plus the coupon unless any ETF finishes below its 85% threshold level, in which case investors will be fully exposed to the losses of the worst performing ETF beyond 15%.
The notes are guaranteed by Bank of America Corp.
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 yield notes
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| Underlying ETFs: | Invesco Solar ETF and iShares Global Clean Energy ETF
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| Amount: | $520,000
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| Maturity: | Jan. 30, 2025
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| Coupon: | 8.75% annual rate, payable monthly if each ETF closes at or above coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above downside threshold, par plus coupon; otherwise 1% loss for each 1% decline of worst performing ETF beyond 15%
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any quarterly observation date after one year
|
| Initial levels: | $62.49 for Invesco, $17.88 for iShares
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| Coupon barriers: | $49.99 for Invesco, $14.30 for iShares; 80% of initial levels
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| Thresholds: | $53.12 for Invesco, $15.20 for iShares; 85% of initial levels
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| Pricing date: | Jan. 26, 2022
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| Settlement date: | Jan. 31, 2022
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 3%
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| Cusip: | 09709UYG7
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