By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – BofA Finance LLC priced $10.99 million of contingent income autocallable yield notes due Jan. 25, 2024 linked to the worst performing of the iShares Russell 2000 ETF, SPDR Dow Jones industrial average ETF and SPDR S&P 500 ETF trust, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 7.15% if each fund closes at or above its 80% coupon barrier on the related determination date, plus any previously unpaid coupon.
The notes will be automatically redeemed at par if each fund closes above its initial value on any quarterly call observation date after one year.
The payout at maturity will be par plus the coupon if each fund finishes above its 60% trigger value.
Otherwise, investors will be fully exposed to any losses of the worst performing fund.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying funds: | iShares Russell 2000 ETF, SPDR Dow Jones industrial average ETF and SPDR S&P 500 ETF trust
|
| Amount: | $10,994,000
|
| Maturity: | Jan. 25, 2024
|
| Coupon: | 7.15% per year if each fund closes at or above its coupon barrier on the related determination date, plus any previously unpaid coupon; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if each fund finishes above its trigger value; otherwise, investors will be fully exposed to any losses of the worst performing fund
|
| Call: | Automatically at par if each fund closes above initial value on any quarterly call observation date after one year
|
| Initial levels: | $382.88 for S&P 500, $215.00 for iShares Russell, $309.97 for SPDR Dow Jones
|
| Coupon barriers: | $306.30 for S&P 500, $172.00 for iShares Russell, $247.98 for SPDR Dow Jones; 80% of initial levels
|
| Trigger values: | $229.73 for S&P 500, $129.00 for iShares Russell, $185.98 for SPDR Dow Jones; 60% of initial levels
|
| Pricing date: | Jan. 22
|
| Settlement date: | Jan. 27
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09709T5N7
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