By Wendy Van Sickle
Columbus, Ohio, Dec. 3 – BofA Finance LLC priced $1.5 million of contingent income buffered autocallable securities due Nov. 28, 2023 linked to the lesser performing of the Euro Stoxx 50 index and the iShares MSCI Emerging Markets ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each month, the notes will pay a contingent coupon at the rate of 9.05% per year if each underlier closes at or above its coupon barrier level, 80% of its initial level, on the determination date for that month.
After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless either underlier finishes below its buffer level, 80% of its initial level, in which case investors will lose 1.25% for every 1% that the lesser-performing underlier declines beyond 20%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable securities
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| Underliers: | Euro Stoxx 50 index and iShares MSCI Emerging Markets ETF
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| Amount: | $1.5 million
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| Maturity: | Nov. 28, 2023
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| Coupon: | 9.05% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date
|
| Price: | Par
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| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1.25% loss for every 1% that lesser-performing underlier declines beyond 20%
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| Call: | After one year, automatically at par if each underlier closes at or above initial level on any monthly determination date
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| Initial levels: | 3,687.32 for index and $42.87 for fund
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| Coupon barriers: | 2,949.86 for index and $34.30 for fund; 80% of initial levels
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| Buffer levels: | 2,949.86 for index and $34.30 for fund; 80% of initial levels
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| Pricing date: | Nov. 22
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| Settlement date: | Nov. 27
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.1%
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| Cusip: | 09709TXP1
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