Chicago, Dec. 14 – BofA Finance LLC priced $975,000 of contingent income autocallable yield notes due April 4, 2024 linked to the least performing of the iShares Silver Trust and the SPDR S&P Metals & Mining ETF, 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 quarterly coupon at an annual rate of 11% if each ETF closes above its 60% coupon barrier on a related determination date.
The notes will be called at par plus coupon if each ETF closes at or above initial levels on any quarterly determination date after six months.
If the final share price of each ETF is greater than or equal to the 60% downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will be fully exposed to the losses of the worst performing ETF.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying ETFs: | iShares Silver Trust, SPDR S&P Metals & Mining ETF
|
| Amount: | $975,000
|
| Maturity: | April 4, 2024
|
| Coupon: | 11% per year, payable quarterly if shares of each ETF close at or above downside threshold level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If final share price of each ETF is greater than or equal to downside threshold level, par plus final contingent coupon; otherwise, full exposure to losses of worst performer
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial levels on any quarterly determination date after six months
|
| Initial levels: | $23.15 for iShares, $40.36 for Metals
|
| Coupon barrier: | $13.89 for iShares, $24.22 for Metals; 60% of initial value
|
| Downside threshold: | $13.89 for iShares, $24.22 for Metals; 60% of initial value
|
| Pricing date: | April 1
|
| Settlement date: | April 7
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09709UEW4
|
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