By Wendy Van Sickle
Columbus, Ohio, May 3 – BofA Finance LLC priced $18.07 million of 0% autocallable market-linked step-up notes due April 29, 2027 linked to the Euro Stoxx 50 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 automatically called at par plus a 10.7% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 140% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 40%. If the index declines up to 15%, investors will receive par. Otherwise, investors will lose 1% for every 1% decline beyond 15%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable market-linked step-up notes
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| Underlying index: | Euro Stoxx 50 index
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| Amount: | $18,066,960
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| Maturity: | April 29, 2027
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| Coupon: | 0%
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| Price: | Par of $10
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| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 40%; if the index declines up to 15%, par; otherwise, lose 1% for every 1% decline below 15%
|
| Call: | Automatically at par plus a 10.7% annualized call premium if the index closes at or above its initial level on any annual observation date
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| Initial level: | 3,777.02
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| Step-up value: | 5,287.83; 140% of initial level
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| Threshold level: | 3,210.47; 85% of initial level
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| Pricing date: | April 28
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| Settlement date: | May 5
|
| Underwriter: | BofA Securities, Inc.
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| Fees: | 2%
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| Cusip: | 09710F488
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