By Sarah Lizee
Olympia, Wash., June 4 – BofA Finance LLC priced $1.51 million of contingent income buffered autocallable notes due Dec. 3, 2026 linked to the least performing of the Technology Select Sector SPDR fund 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.
After one year, the notes will be called automatically at par if each underlier closes at or above its initial level on any contingent coupon payment date.
Each month, the notes will pay a contingent coupon at an annual rate of 8.2008% if each underlying fund closes at or above its 80% threshold value on the observation date for that period.
The payout at maturity will be par plus the coupon unless either fund finishes below its 80% threshold level, in which case investors will lose 1% for each 1% decline beyond the 20% buffer.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income buffered autocallable notes
|
| Underliers: | Technology Select Sector SPDR fund and SPDR S&P Biotech ETF
|
| Amount: | $1,508,000
|
| Maturity: | Dec. 3, 2026
|
| Coupon: | 8.2008% annualized, payable monthly if each fund closes at or above its coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If each fund finishes at or above threshold level, par plus coupon; otherwise, 1% loss for each 1% decline of worst performing fund beyond 20% buffer
|
| Call: | After one year, notes will be called automatically at par if each underlier closes at or above its initial level on any contingent coupon payment date
|
| Initial levels: | $73.09 for tech fund, $82.03 for biotech fund
|
| Threshold value: | $58.47 for tech fund, $65.62 for biotech fund, 80% of initial levels
|
| Pricing date: | May 28
|
| Settlement date: | May 31
|
| Agent: | BofA Merrill Lynch
|
| Fees: | 4%
|
| Cusip: | 09709TQQ7
|
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