By Wendy Van Sickle
Columbus, Ohio, June 5 – BofA Finance LLC priced $4.33 million of contingent income autocallable yield notes due May 30, 2025 linked to the common stock of Caterpillar Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.25%, paid quarterly, if the underlying stock closes at or above its 65% coupon barrier on the related quarterly observation date.
Starting in November 2023, the securities will be called automatically at par if the stock closes at or above its initial share price on any quarterly observation date.
If the final share price is greater than or equal to the 65% threshold value, the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the stock declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying stock: | Caterpillar Inc.
|
| Amount: | $4,325,000
|
| Maturity: | May 30, 2025
|
| Coupon: | 12.25%, paid quarterly, if the underlying stock closes at or above its 65% coupon barrier on the related quarterly observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above its 65% threshold value, par; 1% loss for every 1% that stock declines if it finishes below its threshold value
|
| Call: | Automatically starting in November 2023 at par if stock closes at or above initial share price on any quarterly observation date
|
| Initial share price: | $209.70
|
| Coupon barrier: | $136.31, 65% of initial share price
|
| Downside threshold: | $136.31, 65% of initial share price
|
| Strike date: | May 24
|
| Pricing date: | May 25
|
| Settlement date: | May 31
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 09709VZP4
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
