By Wendy Van Sickle
Columbus, Ohio, April 4 – BofA Finance LLC priced $500,000 of contingent income autocallable notes due March 31, 2022 linked to the worst performing of the common stocks of Boeing Co. and Nvidia Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 10% if each underlying stock closes at or above its 50% coupon barrier on the observation date for that quarter.
The notes will be called at par if each stock closes at or above 95% of its initial level on any determination date.
The payout at maturity will be par unless either underlying stock finishes below its 50% threshold level, in which case investors will be fully exposed to any losses of the worst performing stock.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable notes
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| Underlying stocks: | Boeing Co. and Nvidia Corp.
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| Amount: | $500,000
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| Maturity: | March 31, 2022
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| Coupon: | 10% annualized, payable quarterly if each stock closes at or above its 50% coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If each stock finishes at or above threshold level, par; otherwise, 1% loss for each 1% decline of worst performing stock
|
| Call: | At par if each stock closes at or above 95% of its initial level on any interest payment date
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| Initial levels: | $374.21 for Boeing and $176.50 for Nvidia
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| Threshold levels: | $187.11 for Boeing and $88.25 for Nvidia, 50% of initial levels
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| Pricing date: | March 27
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| Settlement date: | April 1
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| Underwriter: | BofA Merrill Lynch
|
| Fees: | 2.625%
|
| Cusip: | 09709TPM7
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