By William Gullotti
Buffalo, N.Y., Feb. 24 – BofA Finance LLC priced $3.22 million of contingent income autocallable yield notes due July 28, 2022 linked to the common stock of ViacomCBS Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 10% if the shares close at or above their coupon barrier, 60% of their level, on the observation date for that period.
After six months, the notes will be called at par plus any contingent coupon if the shares close above their initial level on any monthly observation date other than the final one.
The payout at maturity will be par unless the stock finishes below its 60% threshold level, in which case investors will be fully exposed to the losses.
The notes are 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 stock: | ViacomCBS Inc.
|
| Amount: | $3,216,000
|
| Maturity: | July 28, 2022
|
| Coupon: | 10% annual rate, payable monthly if the stock closes at or above coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise. 1% loss for each 1% decline from initial level
|
| Call: | After six months at par plus any coupon if stock closes above their initial level on any monthly observation date other than final one
|
| Initial level: | $41.71
|
| Coupon barrier: | $25.03; 60% of initial level
|
| Downside threshold: | $25.03; 60% of initial level
|
| Pricing date: | April 23, 2021
|
| Settlement date: | April 28, 2021
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09709UGV4
|
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