By Wendy Van Sickle
Columbus, Ohio, Nov. 24 – BofA Finance LLC priced $8.99 million of contingent income autocallable yield notes due Nov. 25, 2022 linked to the common stock of Apple Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.25% if the stock closes at or above its 70% coupon barrier on the observation date for that quarter.
The notes will be called at par if the stock closes above its initial level on any quarterly observation date after six months.
The payout at maturity will be par unless the stock finishes below its 70% threshold level, in which case investors will be fully exposed to any losses of the stock.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling 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 stock: | Apple Inc.
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| Amount: | $8,987,000
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| Maturity: | Nov. 25, 2022
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| Coupon: | 9.25% annualized, payable quarterly if the stock closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of stock
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| Call: | At par if stock closes above its initial level on any quarterly determination date after six months
|
| Initial level: | $117.34
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| Coupon barrier: | $82.14, 70% of initial levels
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| Threshold level: | $82.14, 70% of initial levels
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| Pricing date: | Nov. 20
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| Settlement date: | Nov. 25
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 09709T2Q3
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