By Emma Trincal
New York, June 2 – BofA Finance LLC priced $500,000 of contingent income autocallable yield notes due May 21, 2026 linked to the KraneShares CSI China Internet ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 22.1% per year if the ETF closes at or above its coupon barrier level, 80% of its initial level, on observation date for that quarter.
The notes will be called automatically at par if the ETF closes at or above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the ETF finishes below its threshold level, 70% of its initial level, in which case investors will be exposed to the decline of the ETF.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
|
| Underlying fund: | KraneShares CSI China Internet ETF
|
| Amount: | $500,000
|
| Maturity: | May 21, 2026
|
| Coupon: | 22.1% per year, payable quarterly if the ETF closes at or above coupon barrier level on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | Par unless ETF finishes below barrier level, in which case exposure to decline of the ETF
|
| Call: | Automatically at par if the ETF closes at or above initial level on any quarterly observation date after six months
|
| Initial level: | $28.01
|
| Coupon barrier level: | $22.41, or 80% of initial level
|
| Threshold level | $19.61, or 70% of initial level
|
| Strike date | May 17
|
| Pricing date: | May 18
|
| Settlement date: | May 23
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.6%
|
| Cusip: | 09709VY26
|
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