By William Gullotti
Buffalo, N.Y., Nov. 30 – BofA Finance LLC priced $2.2 million of contingent income buffered autocallable yield notes due Nov. 29, 2024 linked to the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a monthly coupon at an annual rate of 8.5% if each ETF closes above its 85% downside threshold on a related determination date.
The notes will be called at par plus coupon if each ETF closes at or above initial levels on any quarterly determination date after one year.
If the final share price of each ETF is greater than or equal to the 85% downside threshold level, the payout at maturity will be par plus the final contingent coupon. Otherwise, investors will lose 1% for every 1% decline in worst performing ETF beyond 15%.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable yield notes
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| Underlying ETFs: | iShares Silver Trust, VanEck Vectors Gold Miners ETF
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| Amount: | $2,204,000
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| Maturity: | Nov. 29, 2024
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| Coupon: | 8.5% per year, payable monthly if shares of each ETF close at or above downside threshold level on the observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If final share price of each ETF is greater than or equal to downside threshold level, par plus the final contingent coupon; otherwise, investors will lose 1% for every 1% decline of worst performer beyond 15%
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial levels on any quarterly determination date after one year
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| Initial levels: | $21.92 for iShares, $32.50 for VanEck
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| Coupon barrier: | $18.63 for iShares, $27.63 for VanEck; 85% of initial value
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| Downside threshold: | $18.63 for iShares, $27.63 for VanEck; 85% of initial value
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 29
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| Agent: | BofA Securities, Inc.
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| Fees: | 3%
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| Cusip: | 09709UUF3
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