By Wendy Van Sickle
Columbus, Ohio, Feb. 3 – BofA Finance LLC priced $898,000 of contingent income autocallable yield notes due Jan. 13, 2023 linked to the worst performing of the common stocks of Costco Wholesale Corp., International Business Machines Corp. and Morgan Stanley, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 8.5% if each stock closes at or above its 60% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each stock closes above its initial value on any quarterly call observation date after one year.
The payout at maturity will be par plus the coupon if all three stocks close above their 60% 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 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: | Costco Wholesale Corp., International Business Machines Corp. and Morgan Stanley
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| Amount: | $898,000
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| Maturity: | Jan. 13, 2023
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| Coupon: | 8.5% per year if each stock closes at or above its coupon barrier on the related determination date; payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus the coupon if all three stocks close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing stock
|
| Call: | Automatically redeemed at par if each stock closes above initial value on any quarterly call observation date after one year
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| Initial levels: | $186.51 for Costco, $139.55 for IBM, $54.02 for Morgan Stanley
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| Coupon barriers: | $310.51 for Costco, $83.73 for IBM, $32.41 for Morgan Stanley; 60% of initial levels
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| Trigger values: | $310.51 for Costco, $83.73 for IBM, $32.41 for Morgan Stanley; 60% of initial levels
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| Pricing date: | Jan. 28
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| Settlement date: | Jan.31
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 3.25% Cusip: | 09709TYY1
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