By Taylor Fox
New York, Aug. 24 – BofA Finance LLC priced $18.77 million of contingent income autocallable yield notes due Feb. 8, 2024 linked to the common stock of General Motors Co., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.661089% if the stock closes at or above its 55% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if the stock closes above its initial value on any quarterly call observation date after six months.
The payout at maturity will be par plus the coupon if the stock closes above its 55% threshold level.
Otherwise, investors will be fully exposed to any losses of the stock.
The notes will be 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 autocallable yield notes
|
| Underlying stock: | General Motors Co.
|
| Amount: | $18,766,000
|
| Maturity: | Feb. 8, 2024
|
| Coupon: | 11.661089% per year if stock closes at or above its coupon barrier on quarterly determination date
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if stock closes above its threshold level; otherwise, investors will be fully exposed to any losses of stock
|
| Call: | Automatically redeemed at par if stock closes above initial value on any quarterly call observation date after six months
|
| Initial levels: | $54.41
|
| Threshold level: | $29.93 or 55% of initial level
|
| Coupon barriers level: | $29.93 or 55% of initial level
|
| Pricing date: | Feb. 5
|
| Settlement date: | Feb. 10
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.5%
|
| Cusip: | 09709UAR9
|
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