By Kiku Steinfeld
Chicago, May 17 – BofA Finance LLC priced $899,000 of contingent income autocallable yield notes due May 2, 2024 tied to the stocks of ServiceNow Inc., Micron Technology, Inc. and Darden Restaurants, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at the rate of 12.75% per year if each stock closes at or above its coupon barrier level, 60% of its initial level, on the observation date that period.
The notes will be automatically called at par if each stock closes at or above its initial level on any quarterly call determination date after six months.
If the lowest-performing stock finishes at or above its downside threshold level, 60% of its initial level, the payout at maturity will be par. If the lowest-performing stock finishes below its downside threshold level, investors will be fully exposed to the decline of the lowest-performing stock from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the 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 stocks: | ServiceNow Inc., Micron Technology, Inc. and Darden Restaurants, Inc.
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| Amount: | $899,000
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| Maturity: | May 2, 2024
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| Coupon: | 12.75% per year, payable monthly if each stock closes at or above coupon barrier level on any observation date
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| Price: | Par
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| Payout at maturity: | If each stock finishes at or above downside threshold level, par; if any stock finishes below downside threshold level, full exposure to decline of lowest-performing stock from its initial level
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| Call option: | At par if each stock closes at or above its initial level on any quarterly call determination date after six months
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| Initial levels: | $562.63 for ServiceNow, $89.46 for Micron and $142.66 for Darden
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| Coupon barriers: | $337.58 for ServiceNow, $53.68 for Micron and $85.60 for Darden; 60% of initial levels
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| Downside threshold levels: | $337.58 for ServiceNow, $53.68 for Micron and $85.60 for Darden; 60% of initial levels
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| Pricing date: | April 27
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| Settlement date: | April 30
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| Agent: | BofA Securities, Inc.
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| Fees: | 3.25%
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| Cusip: | 09709UGL6
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