By William Gullotti
Buffalo, N.Y., Dec. 8 – BofA Finance LLC priced $1.6 million of 9.1% fixed income issuer callable yield notes due Dec. 5, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be paid monthly.
The notes are callable at par plus a fixed coupon on any quarterly determination date after one year.
The payout at maturity will be par plus the final coupon unless the index finishes below its 70% threshold level, in which case investors will be fully exposed to index decline from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Fixed income issuer callable yield notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $1,597,000
|
| Maturity: | Dec. 5, 2024
|
| Coupon: | 9.1% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline from initial level
|
| Call option: | At par plus the fixed coupon on any quarterly determination date after one year
|
| Initial level: | 4,076.57
|
| Downside threshold: | 2,853.6; 70% of initial levels
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 6
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.5%
|
| Cusip: | 09709VB21
|
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