New York, Aug. 9 – BofA Finance LLC priced $2.5 million of contingent income autocallable yield notes due Aug. 1, 2028 linked to the common stock of Advanced Micro Devices, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid quarterly, if the underlying stock closes at or above its 50% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the stock closes at or above its initial level on any quarterly observation date starting in July 2024.
If the stock finishes at or above its 50% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the stock declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. 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: | Advanced Micro Devices, Inc.
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| Amount: | $2.5 million
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| Maturity: | Aug. 1, 2028
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| Coupon: | 11%, paid quarterly, if the underlying stock closes at or above its 50% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above its 50% threshold value, par; otherwise, 1% loss for every 1% that stock declines from initial level
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| Call: | Automatically at par if the stock closes at or above its initial level on any quarterly observation date starting in July 2024
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| Initial level: | $111.10
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| Downside threshold: | $55.55, 50% of initial level
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| Coupon barrier: | $55.55, 50% of initial level
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| Pricing date: | July 27
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| Settlement date: | July 31
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| Agent: | BofA Securities, Inc.
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| Fees: | 3.35%
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| Cusip: | 09711AD39
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