By Wendy Van Sickle
Columbus, Ohio, Jan. 11 – BofA Finance LLC priced $4.59 million of 0% autocallable market-linked step-up notes due Jan. 2, 2024 tied to the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be called at par of $10 plus an annualized call premium of 17.75% if the ETF closes at or above the initial level on an annual observation date.
If the notes are not called and the ETF finishes above the step-up value, 150% of the initial level, the payout at maturity will be par plus the ETF gain.
If the ETF finishes at or below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of 50%.
Investors will be exposed to any losses.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying ETF: | VanEck Vectors Gold Miners ETF
|
| Amount: | $4,592,750
|
| Maturity: | Jan. 2, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the ETF finishes above the step-up value, par plus ETF gain; if the ETF finishes at or below the step-up level but at or above the initial level, par plus 50%; full exposure to losses
|
| Call: | Automatically at par plus a call premium of 17.75% per year if the ETF closes at or above the initial level on an annual observation date
|
| Initial ETF level: | $35.92
|
| Step-up value: | $53.88, 150% of initial level
|
| Pricing date: | Dec. 23
|
| Settlement date: | Dec. 31
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710C873
|
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