By Wendy Van Sickle
Columbus, Ohio, Oct. 27 – BofA Finance LLC priced $7.32 million of trigger autocallable contingent yield notes due Oct. 27, 2026 linked to the SPDR S&P 500 ETF trust and the SPDR S&P Biotech ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 8.5% if each fund closes at or above its coupon barrier, 72% of its initial level, on the observation date for that quarter.
The notes will be called at par of $10 if each fund closes at or above its initial level on any quarterly observation date starting after six months.
The payout at maturity will be par plus the final coupon, if any, unless either fund finishes below the downside threshold level, 60% of its initial level, in which case investors will lose 1% for every 1% loss of the worse performing fund from its initial level.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Trigger autocallable contingent yield notes
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| Underlying funds: | SPDR S&P 500 ETF trust and SPDR S&P Biotech ETF
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| Amount: | $7,317,500
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| Maturity: | Oct. 27, 2026
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| Coupon: | 8.5% annual rate, payable quarterly if each ETF closes at or above coupon barrier on quarterly observation date
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| Price: | Par of $10
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| Call: | At par if both ETFs close at or above initial levels on any quarterly observation date after six months
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| Payout at maturity: | Par unless either ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worse performing ETF
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| Initial levels: | $453.12 for SPDR S&P 500, $124.18 for SPDR S&P Biotech
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| Coupon barrier levels: | $317.18 for SPDR S&P 500, $86.93 for SPDR S&P Biotech; 70% of initial levels
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| Downside threshold levels: | $271.87 for SPDR S&P 500, $74.51 for SPDR S&P Biotech; 60% of initial levels
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| Pricing date: | Oct. 22
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| Settlement date: | Oct. 27
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| Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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| Fees: | 0%
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| Cusip: | 09710E432
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