New York, April 5 – BofA Finance LLC priced $10 million of contingent income buffered autocallable securities due April 2, 2024 linked to the shares of Invesco QQQ trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.5%, paid monthly, if the ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting April 27 at par if the price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the ETF declines by more than its 15% buffer in which case investors will be exposed to the decline beyond the buffer.
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: | Contingent income buffered autocallable securities
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| Underlying ETF: | Invesco QQQ trust, series 1
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| Amount: | $10 million
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| Maturity: | April 2, 2024
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| Coupon: | 15.5%, paid monthly, if ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if ETF gains or loses no more than its 15% buffer, otherwise investors will be exposed to the decline beyond the buffer
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| Call: | Automatically starting April 27 at par if the price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date
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| Initial level: | $310.89
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| Buffer level: | $264.26, 85% of initial level
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| Pricing date: | March 27
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| Settlement date: | March 30
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 09709VPB6
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