Chicago, Feb. 1 – BofA Finance LLC priced $2.87 million of contingent income autocallable yield notes due July 12, 2022 linked to the common stock of Cleveland-Cliffs Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 13.5% if the stock closes at or above its 50% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if the stock closes above its initial value on any monthly call observation date after six months.
The payout at maturity will be par plus the coupon if the stock closes above its 50% threshold level.
Otherwise, investors will be fully exposed to any losses of the stock.
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.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying stock: | Cleveland-Cliffs Inc.
|
| Amount: | $2,866,000
|
| Maturity: | July 12, 2022
|
| Coupon: | 13.5% per year if stock closes at or above its coupon barrier on monthly determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if stock closes above its threshold level; otherwise, investors will be fully exposed to any losses of stock
|
| Call: | Automatically redeemed at par if stock closes above initial value on any monthly call observation date after six months
|
| Initial levels: | $18.11
|
| Threshold level: | $9.06, or 50% of initial level
|
| Coupon barrier level: | $9.06, or 50% of initial level
|
| Pricing date: | April 7
|
| Settlement date: | April 12
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09709UFA1
|
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