By Wendy Van Sickle
Columbus, Ohio, Dec. 14 – BofA Finance LLC priced $4.56 million of trigger autocallable contingent yield notes due Dec 7, 2023 linked to the SPDR S&P Midcap 400 ETF and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each fund closes at or above its coupon barrier, 70% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each fund closes at or above its initial level on any quarterly observation date starting after six months.
The payout at maturity will be par plus the final coupon, if any, unless either fund finishes below the downside threshold level, 70% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing fund from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR S&P Midcap 400 ETF and iShares Russell 2000 ETF
|
| Amount: | $4,555,600
|
| Maturity: | Dec 7, 2023
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| Coupon: | 8%, payable quarterly if each ETF closes at or above coupon barrier on quarterly observation date
|
| Price: | Par of $10
|
| Call: | At par if both ETFs close at or above initial levels on any quarterly observation date after six months
|
| Payout at maturity: | Par unless either ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing ETF
|
| Initial ETF levels: | $409.78 for S&P 500, $189.41 for iShares Russell
|
| Coupon barriers: | $286.85 for S&P 500, $131.74 for iShares Russell; 70% of initial levels
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| Downside thresholds: | $286.85 for S&P 500, $131.74 for iShares Russell; 70% of initial levels
|
| Pricing date: | Dec. 4
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| Settlement date: | Dec. 9
|
| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
|
| Fees: | 0%
|
| Cusip: | 05591G231
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