Chicago, Oct. 25 – BofA Finance LLC priced $303,000 of fixed-income autocallable yield notes due June 2, 2023 linked to the WTI crude oil futures contract, according to a 424B2 filed with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a 12% coupon at quarterly intervals.
The notes will be automatically called at par if the underlying is above its initial level on any quarterly observation date.
Investors will receive par if the ending value declines but not more than 40%.
Otherwise, investors will lose 1% for each 1% decline from the initial level.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Fixed-income autocallable yield notes
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| Underlying commodity: | WTI crude oil futures contract
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| Amount: | $303,000
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| Maturity: | June 2, 2023
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| Coupon: | 12%, payable quarterly
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| Price: | Par
|
| Payout at maturity: | Par if ending value declines but not beyond barrier; otherwise, 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par if underlying is above initial level on any quarterly observation date
|
| Initial level: | $92.81
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| Barrier level: | $55.69, 60% of initial level
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| Pricing date: | Feb. 24
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| Settlement date: | Feb. 28
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09709T6K2
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