By Wendy Van Sickle
Columbus, Ohio, March 30 – BofA Finance LLC priced $17.17 million of 0% autocallable market-linked step-up notes due March 31, 2023 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be called at par plus 11.82% if the index closes at or above its initial level on April 1, 2022.
If the index finishes above the step-up level – 120% of the initial level – the payout at maturity will be par of $10 plus the index gain.
If the index gains by up to the step-up level, the payout will be par plus the step-up payment of 20%.
Investors will be exposed to any losses in the index.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $17,173,300
|
| Maturity: | March 31, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Call: | At par plus 11.82% if index closes at or above initial level on April 1, 2022
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index gains up to the step-up level, par plus 20%; full exposure to any losses
|
| Initial level: | 2,183.121
|
| Step-up value: | 2,619.745, 120% of initial level
|
| Pricing date: | March 25
|
| Settlement date: | April 1
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710D277
|
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