By Taylor Fox
New York, Oct. 29 – BofA Finance LLC priced $495,000 of contingent income autocallable yield notes due Dec. 31, 2021 linked to the common stock of Las Vegas Sands Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11% if the stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes above its initial level on any monthly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the stock.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stock: | Las Vegas Sands Corp.
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| Amount: | $495,000
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| Maturity: | Dec. 31, 2021
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| Coupon: | 11% annualized, payable monthly if the stock closes at or above its coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of stock
|
| Call: | At par if stock closes above its initial level on any monthly determination date after six months
|
| Initial level: | $47.62
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| Coupon barrier: | $28.57, 60% of initial levels
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| Threshold level: | $28.57, 60% of initial levels
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| Pricing date: | Sept. 28
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| Settlement date: | Oct. 1
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09709TW23
|
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