New York, Feb. 7 – BofA Finance LLC priced $10 million of contingent income buffered autocallable securities due Jan. 27, 2025 linked to iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.43%, paid monthly, if the underlying fund closes at or above its 87% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying fund 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 13%, in which case investors will lose 1.1494% for each 1% decline of the ETF beyond 13%.
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 buffered autocallable securities
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| Underlying ETF: | iShares Russell 2000 ETF
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| Amount: | $10 million
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| Maturity: | Jan. 27, 2025
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| Coupon: | 11.43%, paid monthly, if the underlying fund closes at or above its 87% coupon barrier 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 finishes at or above 87% of initial level, otherwise investors will lose 1.1494% for each 1% decline of the ETF beyond 13%
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| Call: | Automatically at par if the closing price of the underlying fund is greater than or equal to its initial price on any monthly call determination date
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| Initial level: | $192.43
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| Buffer: | 13%
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| Coupon barrier: | $167.41, 87% of initial level
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| Downside leverage: | 1.1494%
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| Strike date: | Jan. 19
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| Pricing date: | Jan. 22
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| Settlement date: | Jan. 25
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| Agent: | BofA Securities, Inc.
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| Distributor: | Morgan Stanley
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| Fees: | 0.1%
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| Cusip: | 09710PQ58
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