By Sarah Lizee
Olympia, Wash., March 5 – BofA Finance LLC priced $748,000 of contingent income autocallable yield notes due March 2, 2023 linked to the worst performing of the common stocks of Apple Inc., JPMorgan Chase & Co. and McDonald's Corp., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8% 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 six months.
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: | Apple Inc., JPMorgan Chase & Co. and McDonald's Corp.
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| Amount: | $748,000
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| Maturity: | March 2, 2023
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| Coupon: | 8% per year if each stock closes at or above its coupon barrier on the related determination date; payable quarterly
|
| 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 six months
|
| Initial levels: | $288.08 for Apple, $126.26 for JPMorgan and $212.10 for McDonald's
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| Coupon barriers: | $172.85 for Apple, $75.76 for JPMorgan and $127.26 for McDonald's; 60% of initial levels
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| Trigger values: | $172.85 for Apple, $75.76 for JPMorgan and $127.26 for McDonald's; 60% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 3.25%
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| Cusip: | 09709TZR5
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