New York, Sept. 8 – BofA Finance LLC priced $22 million of contingent income autocallable securities due Sept. 4, 2026 linked to the common stock of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.65%, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date.
The securities will be called automatically starting Dec. 1 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date.
At maturity the payout will be par unless the stock closes below its 65% downside threshold level in which case investors will be fully exposed to the decline of the stock.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley will act as distributor.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable securities
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| Underlying stock: | Amazon.com, Inc.
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| Amount: | $22,002,000
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| Maturity: | Sept. 4, 2026
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| Coupon: | 11.65%, paid quarterly, if the underlying stock closes at or above its 65% downside threshold on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the stock closes below its downside threshold level in which case investors will be fully exposed to the decline in the stock
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| Call: | Automatically starting Dec. 1 at par if the price of the underlying stock is greater than or equal to its initial price on any quarterly call determination date
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| Initial level: | $138.12
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| Downside threshold: | $89.78, 65% of initial level
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| Pricing date: | Sept. 1
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| Settlement date: | Sept. 7
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| Agent: | BofA Securities, Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 2.25% including a structuring fee of 0.5%
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| Cusip: | 09711AJV1
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