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Published on 5/15/2021 in the Prospect News Structured Products Daily.

New Issue: BofA prices $330,000 contingent income buffered autocalls on gold, silver

By Kiku Steinfeld

Chicago, May 17 – BofA Finance LLC priced $330,000 of contingent income buffered autocallable yield notes due May 2, 2024 linked to the lesser performing of the VanEck Vectors Gold Miners ETF and the iShares Silver trust, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

Each month, the notes will pay a contingent coupon at the rate of 6% per year if each underlier closes at or above its coupon barrier level, 80% of its initial level, on the determination date for that month.

After six months, the notes will be automatically called at par if each underlier closes at or above its initial level on any quarterly determination date after one year.

The payout at maturity will be par unless either underlier finishes below its buffer level, 80% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.

BofA Securities, Inc. is the selling agent.

Issuer:BofA Finance LLC
Guarantor:Bank of America Corp.
Issue:Contingent income buffered autocallable securities
Underliers:VanEck Vectors Gold Miners ETF and iShares Silver trust
Amount:$330,000
Maturity:May 2, 2024
Coupon:6% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date
Price:Par
Payout at maturity:Par unless any underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20%
Call:After six months, automatically at par if each underlier closes at or above initial level on any quarterly determination date after one year
Initial levels:$35.30 for gold, $24.39 for silver
Coupon barriers:$28.24 for gold, $19.51 for silver; 80% of initial levels
Buffer levels:$28.24 for gold, $19.51 for silver; 80% of initial levels
Pricing date:April 27
Settlement date:April 30
Selling agent:BofA Securities, Inc.
Fees:2.75%
Cusip:09709UHA9

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