By William Gullotti
Buffalo, N.Y., Sept. 27 – BofA Finance LLC priced $5 million of trigger autocallable contingent yield notes due Sept. 24, 2026 linked to the least performing of the SPDR S&P 500 ETF Trust, the iShares Russell 2000 ETF and the iShares MSCI EAFE ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 9.85% if each ETF closes at or above its coupon barrier, 70% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if each ETF closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon if each ETF finishes at or above the coupon barrier.
If the worst performer finishes below the coupon barrier but at or above the downside threshold level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR S&P 500 ETF Trust, iShares Russell 2000 ETF, iShares MSCI EAFE ETF
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| Amount: | $5,000,000
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| Maturity: | Sept. 24, 2026
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| Coupon: | 9.85% annual rate, payable quarterly if each ETF closes at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus the final coupon if each ETF finishes above coupon barrier; if worst performer finishes below coupon barrier but at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worst performing ETF from initial level
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| Call: | At par plus coupon if both ETFs close at or above initial levels on any quarterly observation date
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| Initial ETF levels: | $433.63 for S&P ETF, $217.52 for Russell ETF, $79.79 for EAFE ETF
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| Coupon barrier levels: | $303.54 for S&P ETF, $152.26 for Russell ETF, $55.85 for EAFE ETF; 70% of initial levels
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| Downside thresholds: | $281.86 for S&P ETF, $141.39 for Russell ETF, $51.86 for EAFE ETF; 65% of initial levels
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| Pricing date: | Sept. 21
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| Settlement date: | Sept. 24
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| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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| Fees: | None
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| Cusip: | 09710E465
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