By Wendy Van Sickle
Columbus, Ohio, Sept. 4 – BofA Finance LLC priced $3.29 million of contingent income autocallable notes due Sept. 1, 2022 linked to the shares of Roku, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes will pay a contingent coupon at the rate of 21% per year if the stock closes at or above its threshold value, 50% of its initial share price, on the observation date for that quarter.
The notes will be automatically called at par if the stock closes at or above its initial share price on any quarterly observation date other than the final one.
If the notes are not called and the stock finishes at or above its threshold value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the stock declines beyond 20%.
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 notes
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| Underlying stock: | Roku, Inc.
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| Amount: | $3,294,000
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| Maturity: | Sept. 1, 2022
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| Coupon: | 21% per year, payable quarterly if the stock closes at or above threshold value on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | Par unless stock finishes below threshold value, in which case 1% loss for every 1% that stock declines beyond 20%
|
| Call: | Automatically at par if stock closes at or above initial share price on any quarterly observation date other than final one
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| Initial share price: | $145.89
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| Threshold value: | $72.95, or 50% of initial share price
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| Pricing date: | Aug. 28
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| Settlement date: | Aug. 30
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| Agent: | BofA Securities Inc.
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| Fees: | 2.8%
|
| Cusip: | 09709TTM3
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