By Taylor Fox
New York, Feb. 22 – BofA Finance LLC priced $3.51 million of contingent income autocallable yield notes due July 30, 2024 linked to an equally weighted basket of stocks including JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group, Inc. and Citigroup Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 6.5% if the basket closes at or above its 80% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if the basket 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 the basket close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the basket.
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.
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| Issue: | Contingent income autocallable yield notes
|
| Underlying stocks: | JPMorgan Chase & Co., Morgan Stanley, Goldman Sachs Group, Inc. and Citigroup Inc.
|
| Amount: | $3,505,000
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| Maturity: | July 30, 2024
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| Coupon: | 6.5% annual rate if basket closes at or above its coupon barrier on the related determination date; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if basket close above trigger value; otherwise, investors will be fully exposed to the losses of the basket
|
| Call: | Automatically at par if basket closes at or above its initial value on any quarterly call observation date after one year
|
| Initial levels: | $132.12 for JPMorgan, $72.38 for Morgan Stanley, $283.04 for Goldman Sachs and $60.56 for Citigroup
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| Coupon barrier: | 80% of initial levels
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| Threshold value: | 60% of initial levels
|
| Pricing date: | Jan. 25
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| Settlement date: | Jan. 28
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.8%
|
| Cusip: | 09709T5C1
|
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