By Wendy Van Sickle
Columbus, Ohio, May 16 – BofA Finance LLC priced $15.45 million of 7.5% trigger callable yield notes due Aug. 14, 2023 linked to the performance of the Invesco QQQ Trust, series 1 and the iShares S&P 500 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Interest is payable monthly.
The notes are callable at par on any monthly coupon payment date.
The payout at maturity will be par of $10 unless any ETF finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performer from its initial level.
BofA Securities, Inc. and UBS Financial Services Inc. are the agents.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Trigger callable yield notes
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Underlying ETFs: | iShares S&P 500 Value ETF, Invesco QQQ Trust, series 1
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Amount: | $15.45 million
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Maturity: | Aug. 14, 2023
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Coupon: | 7.5% per year, payable monthly
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Price: | Par of $10
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Payout at maturity: | Par unless any ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worst performer from initial level
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Call option: | At par monthly on any coupon date
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Initial levels: | $144.50 for S&P, $300.76 for QQQ
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Downside thresholds: | $86.70 for S&P, $180.46 for QQQ; 60% of initial level
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Pricing date: | May 11
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Settlement date: | May 13
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Underwriter: | BofA Securities, Inc. and UBS Financial Services Inc.
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Fees: | 1%
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Cusip: | 09710G635
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