Chicago, April 5 – BofA Finance LLC priced $533,000 of contingent income autocallable yield notes due Sept. 20, 2022 linked to the common stock of Tesla, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 20.25% if the shares close at or above their coupon barrier, 60% of their level, on the observation date for that period.
After three months, the notes will be called at par plus any contingent coupon if the shares close above 80% of their initial level on any monthly observation date.
The payout at maturity will be par the final coupon due unless the stock finishes below its 50% threshold level, in which case investors will be fully exposed to the losses.
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.
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| Issue: | Contingent income autocallable yield notes
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| Underlying shares: | Tesla, Inc. (Nasdaq: TSLA)
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| Amount: | $533,000
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| Maturity: | Sept. 20, 2022
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| Coupon: | 20.25% annual rate, payable monthly if the shares close at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline
|
| Call: | After three months at par plus any coupon if shares close above 80% of the initial level on any observation date other than final one
|
| Initial level: | $707.94
|
| Coupon barrier: | $424.76, 60% of initial level
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| Downside threshold: | $353.97, 50% of initial level
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| Pricing date: | March 15
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| Settlement date: | March 18
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.875%
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| Cusip: | 09709UEQ7
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