By William Gullotti
Buffalo, N.Y., March 25 – BofA Finance LLC priced $8.55 million of trigger autocallable contingent yield notes due March 21, 2024 linked to the least performing of the iShares Russell 2000 Value ETF and the SPDR Dow Jones Industrial Average 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 contingent quarterly coupon at an annual rate of 10.65% if each ETF closes at or above its coupon barrier, 75% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if each ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above the downside threshold level, 75% of its initial level. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | iShares Russell 2000 Value ETF, SPDR Dow Jones Industrial Average ETF
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| Amount: | $8.55 million
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| Maturity: | March 21, 2024
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| Coupon: | 10.65% annual rate, payable quarterly if each ETF closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
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| Payout at maturity: | Par plus the final coupon if each ETF finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of worst performing ETF from initial level
|
| Call: | At par plus coupon if both ETFs close at or above initial levels on any quarterly observation date after six months
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| Initial ETF levels: | $162.27 for iShares, $347.19 for SPDR
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| Coupon barrier levels: | $121.70 for iShares, $260.39 for SPDR; 75% of initial levels
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| Downside thresholds: | $121.70 for iShares, $260.39 for SPDR; 75% of initial levels
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| Strike date: | March 18
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| Pricing date: | March 21
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| Settlement date: | March 24
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| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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| Fees: | 0.5%
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| Cusip: | 09710G809
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