By Wendy Van Sickle
Columbus, Ohio, Feb. 7 – BofA Finance LLC priced $35 million of 9.72% trigger callable yield notes due May 7, 2024 linked to the Invesco QQQ trust, series 1 and the iShares Russell 2000 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless either ETF finishes below its 70% downside threshold level, in which case investors will lose 1% for each 1% decline of the worst performer 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 callable yield notes
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| Underlying funds: | Invesco QQQ trust, series 1, iShares Russell 2000 ETF
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| Amount: | $35 million
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| Maturity: | May 7, 2024
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| Coupon: | 9.72% per year, payable monthly
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| Price: | Par of $10
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| Payout at maturity: | Par unless any ETF finishes below downside threshold, in which case 1% loss for each 1% decline of worst performer
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| Call option: | At par on any coupon date starting after three months
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| Initial levels: | $300.92 for Invesco QQQ, $194.49 for Russell ETF
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| Downside thresholds: | $210.64 for Invesco QQQ, $136.14 for Russell ETF; 70% of initial levels
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| Pricing date: | Feb. 2
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| Settlement date: | Feb. 7
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| Underwriter: | UBS Financial Services Inc. and BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 09710K107
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