By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – BofA Finance LLC priced $660,000 of contingent income buffered issuer callable yield notes due Dec. 29, 2022 linked to the lesser performing of the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Each month, the notes will pay a contingent coupon at the rate of 5% per year if each index closes at or above its coupon barrier level, 85% of its initial level, on the observation date that month.
After six months, the notes will be callable at par on any monthly observation date.
If each index finishes at or above its buffer level, 85% of its initial level, the payout at maturity will be par plus the final coupon.
If any index finishes below its buffer level, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income buffered issuer callable yield notes
|
| Underlying indexes: | Russell 2000 and Nasdaq-100
|
| Amount: | $660,000
|
| Maturity: | Dec. 29, 2022
|
| Coupon: | 5% per year, payable monthly if each index closes at or above coupon barrier level on observation date that month
|
| Price: | Par
|
| Payout at maturity: | Par if each index finishes at or above buffer level; if any index finishes below buffer level, investors will lose 1% for every 1% decline of the lesser performing index beyond 15%
|
| Call option: | After six months, at par on any monthly observation date
|
| Initial levels: | 12,653.14 for Nasdaq and 2,007.104 for Russell
|
| Coupon barriers/buffer levels: | 10,775.17 for Nasdaq and 1,706.038 for Russell; 85% of initial levels
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 29
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2.5%
|
| Cusip: | 09709T3B5
|
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