By Wendy Van Sickle
Columbus, Ohio, Feb. 21 – BofA Finance LLC priced $1 million of contingent income autocallable yield notes due Feb. 20, 2026 linked to the common stock of Phillips 66, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.2%, paid quarterly, if the underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date, plus any previously unpaid coupon.
The securities will be called automatically starting in February 2024 at par and on any subsequent quarterly observation date if the stock closes at or above its initial level.
If the stock gains or ends above its 60% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the stock declines from its initial level if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stock: | Phillips 66
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| Amount: | $1 million
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| Maturity: | Feb. 20, 2026
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| Coupon: | 10.2%, paid quarterly, if the underlying stock closes at or above its 60% coupon barrier on the related quarterly observation date, plus any previously unpaid coupon
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its 60% threshold value, par; 1% loss for every 1% that stock declines if it finishes below its threshold value
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| Call: | Automatically starting in February 2024 at par and on any subsequent quarterly observation date if stock closes at or above initial level
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| Initial level: | $107.95
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| Downside threshold: | $64.77, 60% of initial level
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| Coupon barrier: | $64.77, 60% of initial level
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| Pricing date: | Feb. 14
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| Settlement date: | Feb. 17
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| Agent: | BofA Securities
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| Fees: | 3.35%
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| Cusip: | 09709VHA7
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