By Wendy Van Sickle
Columbus, Ohio, June 2 – BofA Finance LLC priced $8.71 million of contingent income buffered autocallable yield notes due May 30, 2025 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each month, the notes will pay a contingent coupon at the rate of 11% per year if each underlier closes at or above its coupon barrier level, 80% of its initial level, on the determination date for that month.
The notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly determination date after one year.
The payout at maturity will be par unless either underlier finishes below its buffer level, 85% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 15%.
BofA Securities, Inc. is the selling agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income buffered autocallable securities
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Underliers: | VanEck Vectors Gold Miners ETF and iShares Silver trust
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Amount: | $8,705,000
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Maturity: | May 30, 2025
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Coupon: | 11% per year, payable monthly if each underlier closes at or above coupon barrier level on related determination date
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Price: | Par
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Payout at maturity: | Par unless any underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 15%
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Call: | At par if each underlier closes at or above initial level on any quarterly determination date after one year
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Initial levels: | $32.59 for gold, $20.34 for silver
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Coupon barriers: | $26.07 for gold, $16.27 for silver; 80% of initial levels
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Buffer levels: | $27.70 for gold, $17.29 for silver; 85% of initial levels
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Pricing date: | May 25
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Settlement date: | May 31
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Selling agent: | BofA Securities, Inc.
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Fees: | 3.25%
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Cusip: | 09709UT73
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