By Wendy Van Sickle
Columbus, Ohio, March 25 – BofA Finance LLC priced $5 million of trigger autocallable contingent yield notes due March 18, 2025 linked to the MSCI Emerging Markets index and the Euro Stoxx 50 index, 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 12.5% if each asset closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each asset closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless either asset finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing asset 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 indexes: | MSCI Emerging Markets index and Euro Stoxx 50 index
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Amount: | $5 million
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Maturity: | March 18, 2025
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Coupon: | 12.5%, payable quarterly if each index closes at or above coupon barrier on quarterly observation date
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Price: | Par of $10
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Call: | At par if both indexes close at or above initial levels on any quarterly observation date
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Payout at maturity: | Par unless either index finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing index
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Initial index levels: | 891.19 for EM, 2,586.02 for Stoxx
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Coupon barriers: | 623.83 for EM, 1,810.21 for Stoxx; 70% of initial levels
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Downside thresholds: | 623.83 for EM, 1,810.21 for Stoxx; 70% of initial levels
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Pricing date: | March 13
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Settlement date: | March 18
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Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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Fees: | None
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Cusip: | 05591G728
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