By Kiku Steinfeld
Chicago, Sept. 14 – BofA Finance LLC priced $15.39 million of contingent income autocallable yield notes due Sept. 6, 2022 linked to the worst performing of the SPDR S&P Bank ETF, Financial Select Sector SPDR fund and VanEck Vectors Semiconductor ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 13% if each fund closes at or above its 65% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each fund closes above its initial value on any quarterly call observation date.
The payout at maturity will be par plus the coupon if each fund finishes above its 65% trigger value.
Otherwise, investors will be fully exposed to any losses of the worst performing fund.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying funds: | SPDR S&P Bank ETF, Financial Select Sector SPDR fund and VanEck Vectors Semiconductor ETF
|
| Amount: | $15,394,000
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| Maturity: | Sept. 6, 2022
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| Coupon: | 13% per year if each fund closes at or above its coupon barrier on the related determination date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if each fund finishes above its trigger value; otherwise, investors will be fully exposed to any losses of the worst performing fund
|
| Call: | Automatically at par if each fund closes above initial value on any quarterly call observation date
|
| Initial levels: | $31.89 for Bank, $25.06 for Financial, $175.37 for Semiconductor
|
| Coupon barriers: | $20.73 for Bank, $16.29 for Financial, $113.99 for Semiconductor; 65% of initial levels
|
| Trigger values: | $20.73 for Bank, $16.29 for Financial, $113.99 for Semiconductor; 65% of initial levels
|
| Pricing date: | Aug. 31
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| Settlement date: | Sept. 3
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.75%
|
| Cusip: | 09709TR86
|
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