By William Gullotti
Buffalo, N.Y., Aug. 25 – BofA Finance LLC priced $20 million of step-up callable notes due Aug. 24, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 4.25% for the first two years. After that, it will step up to 4.5% on Aug. 24, 2024, to 5% on Aug. 24, 2026 and to 6% on Aug. 24, 2028. Interest will be payable semiannually.
The notes will be callable at par on any semiannual review date starting Feb. 24, 2024.
The payout at maturity will be par.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Step-up callable notes
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| Amount: | $20 million
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| Maturity: | Aug. 24, 2029
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| Coupon: | 4.25% initially, stepping up to 4.5% on Aug. 24, 2024, to 5% on Aug. 24, 2026 and to 6% on Aug. 24, 2028; payable semiannually
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| Price: | Par
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| Payout at maturity: | Par
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| Call option: | At par on any semiannual review date beginning Feb. 24, 2024
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| Pricing date: | Aug. 22
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| Settlement date: | Aug. 24
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.8%
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| Cusip: | 06048WX62
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