By Wendy Van Sickle
Columbus, Ohio, Feb. 5 – BofA Finance LLC priced $15 million of autocallable contingent coupon barrier notes due Feb. 6, 2026 linked to Estee Lauder Cos. Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes pay a contingent quarterly coupon at an annual rate of 15.4% if the stock closes at or above its coupon barrier price, 60% of its initial price, on the corresponding observation date.
The notes will be called at par plus coupon if the stock closes at or above its initial share price on any quarterly observation date.
If the notes are not called and the stock finishes at or above its 60% trigger price, the payout at maturity will be par plus the final coupon.
Otherwise, investors will lose 1% for every 1% decline of the stock from its initial share price.
BofA Securities, Inc. is the underwriter.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Autocallable contingent coupon barrier notes
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| Underlying stock: | Estee Lauder Cos. Inc.
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| Amount: | $15 million
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| Maturity: | Feb. 6, 2026
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| Coupon: | 15.4% annual rate, payable quarterly if stock closes at or above trigger price on the corresponding observation date
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| Price: | Par of $10
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| Payout at maturity: | If stock finishes at or above trigger price, par plus final coupon; otherwise, investors will be fully exposed to the decline of the stock from its initial level
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| Call: | At par plus coupon if stock closes at or above initial share price on any quarterly observation date
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| Initial share price: | $134.18
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| Coupon barrier price: | $80.51; 60% of initial price
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| Trigger price: | $80.51; 60% of initial price
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 6
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 0.3%
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| Cusip: | 09710M673
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