By Sarah Lizee
Olympia, Wash., Oct. 23 – BofA Finance LLC price $2.33 million of contingent income autocallable yield notes due Oct. 20, 2022 linked to the worst performing of the SPDR S&P Biotech ETF and the iShares Nasdaq Biotechnology ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 8.75% if each asset closes at or above its 60% threshold on the related determination date.
The notes will be automatically redeemed at par if each asset closes above its initial value on any observation date after six months.
The payout at maturity will be par plus the coupon if all three assets close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing asset.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable yield notes
|
| Underlying ETFs: | SPDR S&P Biotech ETF and iShares Nasdaq Biotechnology ETF
|
| Amount: | $2,334,000
|
| Maturity: | Oct. 20, 2022
|
| Coupon: | 8.75% per year if each asset closes at or above its threshold on the related determination date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if all three assets close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing asset
|
| Call: | Automatically redeemed at par if each asset closes above its initial value on any observation date after six months
|
| Initial levels: | $79.61 for S&P biotech, $103.03 for Nasdaq biotech
|
| Threshold levels: | $47.77 for S&P biotech, $61.82 for Nasdaq biotech; 60% of initial levels
|
| Trigger values: | $47.77 for S&P biotech, $61.82 for Nasdaq biotech; 60% of initial levels
|
| Pricing date: | Oct. 17
|
| Settlement date: | Oct. 22
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2.5%
|
| Cusip: | 09709TWA5
|
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