By William Gullotti
Buffalo, N.Y., May 23 – BofA Finance LLC priced $2.35 million of 5.75% trigger callable yield notes due Aug. 23, 2023 linked to the iShares S&P 500 Value ETF and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless either ETF finishes below its 60% downside threshold level, in which case investors will lose 1% for each 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
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Trigger callable yield notes
|
| Underlying funds: | iShares S&P 500 Value ETF, iShares Russell 2000 Value ETF
|
| Amount: | $2,353,360
|
| Maturity: | Aug. 23, 2023
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| Coupon: | 5.75% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless any ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worst performer
|
| Call option: | At par on any coupon date starting after three months
|
| Initial levels: | $143.85 for S&P Value ETF, $144.34 for Russell Value ETF
|
| Downside thresholds: | $86.31 for S&P Value ETF, $86.60 for Russell Value ETF; 60% of initial levels
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Underwriter: | UBS Financial Services Inc. and BofA Securities, Inc.
|
| Fees: | 1%
|
| Cusip: | 09710G619
|
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