By Taylor Fox
New York, Aug. 26 – BofA Finance LLC priced $500,000 of contingent income issuer callable yield notes due Feb. 25, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.3% if the index closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any quarterly determination date after one year.
The payout at maturity will be par plus any coupon due unless the index finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the index.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $500,000
|
| Maturity: | Feb. 25, 2026
|
| Coupon: | 5.3% annualized rate, payable quarterly if the index closes at or above its coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above downside threshold, par plus any coupon due; otherwise, 1% loss for each 1% decline of the index
|
| Call option: | At par on any quarterly determination date after one year
|
| Initial level: | 3,876.5
|
| Coupon barrier: | 2,713; 70% of initial level
|
| Downside threshold: | 2,325.90; 60% of initial level
|
| Pricing date: | Feb. 22
|
| Settlement date: | Feb. 25
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.625%
|
| Cusip: | 09709UCY2
|
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