By Wendy Van Sickle
Columbus, Ohio, June 21 – BofA Finance LLC priced $1.64 million of contingent income autocallable yield notes due June 23, 2021 linked to the worst performing of the VanEck Vectors Semiconductor ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.25% if each underlying ETF closes at or above its 60% coupon barrier on the observation date for that period.
The notes will be called at par if each ETF closes at or above its initial level on any determination date.
The payout at maturity will be par unless either underlying ETF finishes below its 60% threshold level, in which case investors will be fully exposed to any losses of the worst performing ETF.
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 yield notes
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| Underlying ETFs: | VanEck Vectors Semiconductor ETF and SPDR S&P Oil & Gas Exploration & Production ETF
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| Amount: | $1,636,000
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| Maturity: | June 23, 2021
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| Coupon: | 11.25% annualized, payable quarterly if each ETF closes at or above its coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | Par unless either underlying ETF finishes below its threshold level, in which case investors will be fully exposed to any losses of the worst performing ETF
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| Call: | At par if each component closes at or above its initial level on any interest payment date
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| Initial levels: | $26.06 for oil and gas ETF, $106.18 for semiconductor fund
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| Coupon barriers: | $15.64 for oil and gas ETF, $63.71 for semiconductor fund, 60% of initial levels
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| Threshold levels: | $15.64 for oil and gas ETF, $63.71 for semiconductor fund, 60% of initial levels
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| Pricing date: | June 18
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| Settlement date: | June 21
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| Underwriter: | BofA Merrill Lynch
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| Fees: | 2.27%
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| Cusip: | 09709TRZ6
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