By Taylor Fox
New York, Aug. 30 – BofA Finance LLC priced $29.98 million of trigger autocallable contingent yield notes due Feb. 29, 2024 linked to the least performing of the Dow Jones industrial average and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 7.73% if each index closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each index closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon unless either index finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Trigger autocallable contingent yield notes
|
| Underlying indexes: | Dow Jones industrial average and the Russell 2000 index
|
| Amount: | $29,976,160
|
| Maturity: | Feb. 29, 2024
|
| Coupon: | 7.73% annual rate, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if both indexes close at or above initial levels on any quarterly observation date after six months
|
| Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
|
| Initial index levels: | 31,961.86 for Dow and 2,284.381 for Russell
|
| Coupon barrier levels: | 22,373.30 for Dow and 1,599.067 for Russell; 70% of initial levels
|
| Downside thresholds: | 22,373.30 for Dow and 1,599.067 for Russell; 70% of initial levels
|
| Pricing date: | Feb. 24
|
| Settlement date: | Feb. 26
|
| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710E804
|
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