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Published on 7/27/2022 in the Prospect News Structured Products Daily.

New Issue: BofA sells $4.88 million contingent downside autocallables on S&P

By Wendy Van Sickle

Columbus, Ohio, July 27 – BofA Finance LLC priced $4.88 million of 0% market-linked autocallable securities with contingent downside due July 27, 2026 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annual call premium of 10.25% if the index closes at or above the initial level on any annual call observation date.

The payout at maturity will be par unless the index falls by more than 25%, in which case investors will be fully exposed to losses.

The notes are guaranteed by Bank of America Corp.

Wells Fargo Securities, LLC and BofA Securities, Inc. are the agents.

Issuer:BofA Finance LLC
Guarantor:Bank of America Corp.
Issue:Market-linked autocallable securities with contingent downside
Underlying index:S&P 500 index
Amount:$4,884,000
Maturity:July 27, 2026
Coupon:0%
Price:Par
Payout at maturity:Par unless index falls by more than 25%, in which case lose 1% for every 1% decline
Call:Automatically at par plus a 10.25% annual call premium if the index closes at or above the initial level on any annual call observation date
Initial level:3,961.63
Threshold level:2,971.2225; 75% of initial level
Pricing date:July 22
Settlement date:July 27
Agents:Wells Fargo Securities, LLC and BofA Securities, Inc.
Fees:2.475%
Cusip:09709U4K1

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