By Wendy Van Sickle
Columbus, Ohio, June 13 – BofA Finance LLC priced $4.2 million of contingent income autocallable yield notes due June 11, 2026 linked to the worst performing of the common stocks of Apple Inc. and Caterpillar Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 9.5% if each stock closes at or above its 50% coupon barrier on the related determination date, plus any previously unpaid coupon.
The notes will be automatically redeemed at par if each stock closes above its initial value on any quarterly call observation date.
The payout at maturity will be par plus the coupon if both stocks close above their 50% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling 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 stocks: | Apple Inc. and Caterpillar Inc.
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Amount: | $4,196,000
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Maturity: | June 11, 2026
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Coupon: | 9.5%, paid quarterly, if each stock closes at or above its 50% 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: | Par plus the coupon if all stocks close above their trigger values; otherwise, investors will be fully exposed to the losses of the worst performing stock
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Call: | Automatically at par if each stock closes at or above its initial value on any quarterly call observation date
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Initial levels: | $177.82 for Apple, $235.55 for Caterpillar
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Coupon barriers/triggers: | $88.91 for Apple, $117.78 for Caterpillar; 50% of initial levels
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Pricing date: | June 7
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Settlement date: | June 12
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Agent: | BofA Securities, Inc.
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Fees: | 2%
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Cusip: | 09711A2U1
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