By Kiku Steinfeld
Chicago, March 23 – BofA Finance LLC priced $514,000 of contingent income issuer callable yield notes due Sept. 25, 2023 linked to the shares of EOG Resources, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 13.05% if the stock closes at or above its coupon barrier, 65% of its initial level, on the observation date for that period.
The notes are callable at par plus any contingent coupon on any quarterly call observation date.
The payout at maturity will be par plus the coupon unless any stock finishes below its 65% threshold level, in which case investors will be fully exposed to the losses of the stock.
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.
|
| Issue: | Contingent income issuer callable yield notes
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| Underlying stock: | EOG Resources, Inc.
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| Amount: | $514,000
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| Maturity: | Sept. 25, 2023
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| Coupon: | 13.05% annual rate, payable quarterly if stock closes 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 coupon; otherwise, 1% loss for each 1% decline of stock
|
| Call option: | Callable at par plus any coupon on any quarterly call observation date
|
| Initial level: | $71.53
|
| Coupon barrier: | $46.49, 65% of initial levels
|
| Downside threshold: | $46.49, 65% of initial levels
|
| Pricing date: | Sept. 20
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| Settlement date: | Sept. 24
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1%
|
| Cusip: | 09709USD1
|
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