By William Gullotti
Buffalo, N.Y., May 24 – BofA Finance LLC priced $1.2 million of trigger autocallable contingent yield notes due May 23, 2024 linked to the stock performance of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 12.5% if the stock closes at or above its coupon barrier, 65% of its initial level, on the relevant observation date.
The notes will be called at par of $10 plus the contingent coupon if the stock closes at or above its initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon if the stock finishes at or above the downside threshold level, 65% of its initial level.
Otherwise, investors will lose 1% for every 1% decline of the stock from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $1.2 million
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| Maturity: | May 23, 2024
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| Coupon: | 12.5% annual rate, payable quarterly if the stock closes at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Payout at maturity: | Par plus the final coupon if the stock finishes at or above downside threshold; otherwise, 1% loss for each 1% decline of stock from initial level
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| Call: | At par plus coupon if the stock closes at or above initial level on any quarterly observation date
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| Initial level: | $115.50
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| Coupon barrier level: | $75.08; 65% of initial level
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| Downside threshold: | $75.08; 65% of initial level
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| Strike date: | May 17
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| Pricing date: | May 18
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| Settlement date: | May 23
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| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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| Fees: | 1.5%
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| Cusip: | 09710K594
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