By Wendy Van Sickle
Columbus, Ohio, May 20 – BofA Finance LLC priced $2.31 million of contingent income autocallable yield notes due May 19, 2022 linked to the worst performing of the Technology Select Sector SPDR fund, the SPDR S&P Bank ETF and the SPDR S&P Biotech ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 15% if each ETF closes at or above its 50% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each ETF closes above its initial value on any quarterly call observation date.
The payout at maturity will be par plus the coupon, if any, if all three ETFs close above their 50% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing ETF.
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 ETFs: | Technology Select Sector SPDR fund, SPDR S&P Bank ETF, SPDR S&P Biotech ETF
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Amount: | $2,313,000
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Maturity: | May 19, 2022
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Coupon: | 15% per year if each ETF closes at or above its coupon barrier on the related determination date; payable monthly
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Price: | Par
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Payout at maturity: | Par plus the coupon, if any, if all three ETFs close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing ETF
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Call: | Automatically redeemed at par if each ETF closes above initial value on any quarterly call observation date
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Initial levels: | $93.47 for technology fund, $26.66 for bank fund and $102.67 for biotech fund
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Coupon barriers: | $46.74 for technology fund, $13.33 for bank fund and $51.34 for biotech fund; 50% of initial levels
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Trigger values: | $46.74 for technology fund, $13.33 for bank fund and $51.34 for biotech fund; 50% of initial levels
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Pricing date: | May 15
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Settlement date: | May 21
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Underwriter: | BofA Securities, Inc.
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Fees: | 3.25%
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Cusip: | 09709TF63
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