By Wendy Van Sickle
Columbus, Ohio, Nov. 19 – BofA Finance LLC priced $1.15 million of contingent income autocallable yield notes due Nov. 17, 2022 linked to the common stock of Bausch Health Cos. 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% if the stock closes at or above its 60% coupon barrier on the observation date for that quarter.
The notes will be called at par on if the stock closes above its initial level on any quarterly determination date.
The payout at maturity will be par unless the stock finishes below its 60% threshold level, in which case investors will be fully exposed to any losses.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stock: | Bausch Health Cos. Inc.
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| Amount: | $1,166,000
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| Maturity: | Nov. 17, 2022
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| Coupon: | 9% annualized, payable quarterly if stock closes at or above its coupon barrier on observation date for that quarter
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for 1% decline
|
| Call: | At par if stock closes above its initial level on any quarterly determination date
|
| Initial level: | $27.01
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| Coupon barrier: | $16.21, 60% of initial level
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| Downside threshold: | $16.21, 60% of initial level
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| Pricing date: | Nov. 13
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| Settlement date: | Nov. 15
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| Underwriter: | BofA Securities, Inc.
|
| Fees: | 3.5%
|
| Cusip: | 09709TXJ5
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