By Sarah Lizee
Olympia, Wash., April 2 – BofA Finance LLC priced $8.71 million of contingent income autocallable yield notes due March 30, 2023 linked to the worst performing of the common stocks of Apple Inc., JPMorgan Chase & Co. and McDonald’s Corp., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 20% if each stock closes at or above its 50% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each stock closes above 100% of its initial value on any quarterly call observation date after six months.
The payout at maturity will be par plus the coupon if both stocks close above their 50% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stocks: | Apple Inc., JPMorgan Chase & Co. and McDonald’s Corp.
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| Amount: | $8,705,000
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| Maturity: | March 30, 2023
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| Coupon: | 20% per year if each stock closes at or above its coupon barrier on the related determination date; payable monthly
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon if both stocks close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing stock
|
| Call: | Automatically at par if each stock closes above 100% of its initial value on any quarterly call observation date after six months
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| Initial levels: | $245.52 for Apple, $91.73 for JPMorgan, $162.98 for McDonald’s
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| Coupon barriers: | $122.76 for Apple, $45.87 for JPMorgan, $81.49 for McDonald’s; 50% of initial levels
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| Trigger values: | $122.76 for Apple, $45.87 for JPMorgan, $81.49 for McDonald’s; 50% of initial levels
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| Pricing date: | March 25
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| Settlement date: | March 30
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 3.25%
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| Cusip: | 09709TC41
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