By William Gullotti
Buffalo, N.Y., April 26 – BofA Finance LLC priced $2.26 million of contingent income issuer callable yield notes due April 22, 2027 linked to the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent semiannual coupon at an annual rate of 9.1% if the index closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par on any semiannual determination date.
The payout at maturity will be par plus the final coupon unless the index finishes below its 70% threshold level, in which case investors will be fully exposed to decline from the initial level.
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.
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| Issue: | Contingent income issuer callable yield notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $2.26 million
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| Maturity: | April 22, 2027
|
| Coupon: | 9.1% annualized rate, payable semiannually if the index closes at or above its coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline from initial level
|
| Call option: | At par on any semiannual determination date
|
| Initial level: | 1,947.656
|
| Coupon barrier: | 1,363.359; 70% of initial level
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| Downside threshold: | 1,363.359; 70% of initial level
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | None
|
| Cusip: | 09711BHP4
|
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