By Sarah Lizee
Olympia, Wash., May 28 – BofA Finance LLC priced $500,000 of contingent income buffered autocallable securities due Nov. 20, 2026 linked to the lesser performing of the Euro Stoxx Banks Price index and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each month, the notes will pay a contingent coupon at the rate of 15.4008% per year if each underlier closes at or above its buffer level, 80% of its initial level, on the determination date for that month.
After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless either underlier finishes below its buffer level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income buffered autocallable securities
|
| Underliers: | Euro Stoxx Banks Price index and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $500,000
|
| Maturity: | Nov. 20, 2026
|
| Coupon: | 15.4008% per year, payable monthly if each underlier closes at or above buffer level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | After one year, automatically at par if each underlier closes at or above initial level on any monthly determination date
|
| Initial levels: | 93.34 for index and $29.49 for ETF
|
| Buffer levels: | 74.67 for index and $23.59 for ETF; 80% of initial levels
|
| Pricing date: | May 17
|
| Settlement date: | May 22
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 3.75%
|
| Cusip: | 09709TSA0
|
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