By William Gullotti
Buffalo, N.Y., March 25 – BofA Finance LLC priced $3.97 million of contingent income (with memory feature) autocallable yield notes due March 18, 2027 linked to the shares of Amazon.com, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 9.7% if the shares close at or above their coupon barrier, 70% of their level, on the relevant observation date. Previously unpaid coupons, if any, will be automatically included whenever a coupon is paid.
After six months, the notes will be called at par plus the contingent coupon if the shares close at or above their initial level on any observation date.
The payout at maturity will be par the final coupon unless the stock finishes below its 70% threshold level, in which case investors will be fully exposed to the losses.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income (with memory feature) autocallable yield notes
|
| Underlying shares: | Amazon.com, Inc.
|
| Amount: | $3,974,000
|
| Maturity: | March 18, 2027
|
| Coupon: | 9.7% annual rate, payable quarterly if the shares close at or above coupon barrier on the relevant observation date; coupon payment events will automatically include any previously unpaid coupons
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline
|
| Call: | Automatically at par plus coupon if shares close at or above initial level on any quarterly observation date after six months
|
| Initial level: | $174.42
|
| Coupon barrier: | $122.09, 70% of initial level
|
| Downside threshold: | $122.09, 70% of initial level
|
| Pricing date: | March 15
|
| Settlement date: | March 20
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | None
|
| Cusip: | 09711B6E1
|
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