New Issue: BofA sells $70 million cash-settled equity-linked notes on Shell

By Wendy Van Sickle

Columbus, Ohio, Dec. 19 – BofA Finance LLC priced $70 million of 0% cash-settled equity-linked notes due Dec. 18, 2025 linked to the shares of Shell plc, according to a 424B2 filing with the Securities and Exchange Commission.

The notes are guaranteed by Bank of America Corp.

The payout at maturity will be the greater of par of $1,000 and the alternative settlement amount. The alternative settlement amount is the product of $1,000 times the quotient of the final stock price divided by the 117.5% threshold price. In other words, investors will not receive any positive return at maturity unless the stock appreciates by more than 17.5%.

BofA Securities, Inc. is the underwriter.

Issuer:	BofA Finance LLC
Guarantor:	Bank of America Corp.
Issue:	Cash-settled equity-linked notes
Underlying stock:	Shell plc
Amount:	$70 million
Maturity:	Dec. 18, 2025
Coupon:	0%
Price:	Par of $1,000
Payout at maturity:	Greater of (i) $1,000 and (ii) product of $1,000 times the quotient of the final stock price divided by the threshold price
Initial price:	$57.389
Threshold price:	$67.432, 117.5% of initial price
Pricing date:	Dec. 13
Settlement date:	Dec. 20
Agent:	BofA Securities, Inc.
Fees:	None
Cusip:	09709VCZ7

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