By William Gullotti
Buffalo, N.Y., July 21 – BofA Finance LLC priced $521,000 of contingent income buffered autocallable yield notes due July 2, 2025 linked to the SPDR S&P Metals & Mining ETF 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 10.25% if each ETF closes above its 75% coupon barrier on the 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 80% 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 20%.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable yield notes
|
| Underlying ETFs: | SPDR S&P Metals & Mining ETF, VanEck Vectors Gold Miners ETF
|
| Amount: | $521,000
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| Maturity: | July 2, 2025
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| Coupon: | 10.25% per year, payable monthly if shares of each ETF close at or above coupon barrier 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 final coupon; otherwise, investors will lose 1% for every 1% decline of worst performer beyond 20%
|
| Call: | At par plus contingent coupon if each ETF closes at or above initial levels on any quarterly determination date after one year
|
| Initial levels: | $46.82 for SPDR, $29.47 for VanEck
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| Coupon barrier: | $35.12 for SPDR, $22.10 for VanEck; 75% of initial value
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| Downside threshold: | $37.46 for SPDR, $23.58 for VanEck; 80% of initial value
|
| Pricing date: | June 27
|
| Settlement date: | June 30
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 3.25%
|
| Cusip: | 09709UZ84
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