By Wendy Van Sickle
Columbus, Ohio, Aug. 25 – BofA Finance LLC priced $4 million issuer callable contingent coupon barrier notes due Nov. 25, 2024 tied to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a monthly contingent coupon at an annual rate of 8.55% if the index closes at or above the 65% coupon barrier on the corresponding observation date.
The notes may be called at par plus any coupon due at the option of the issuer on any monthly coupon payment date after three months.
Investors will receive par plus the contingent coupon if the final level of the index is at or above its 65% trigger level.
Otherwise, investors will be fully exposed to the index’s decline from its initial level.
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: | Issuer callable contingent coupon barrier notes
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| Underlying index: | S&P 500 index
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| Amount: | $4 million
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| Maturity: | Nov. 25, 2024
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| Coupon: | 8.55% per year, paid monthly if the index closes at or above coupon barrier on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | Par plus contingent coupon if the index finishes at or above trigger level; otherwise, full exposure to index decline from its initial level
|
| Call option: | At par plus any coupon due at the option of the issuer on any monthly coupon payment date after three months
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| Initial level: | 4,369.71
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| Coupon barrier level: | 2,840.31; 65% of initial level
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| Trigger level: | 2,840.31; 65% of initial level
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| Pricing date: | Aug. 18
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| Settlement date: | Aug. 21
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| Agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09710M244
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