By Kiku Steinfeld
Chicago, May 17 – BofA Finance LLC price $901,000 of contingent income autocallable yield notes due May 2, 2024 linked to the lesser performing of the iShares Silver Trust and the SPDR S&P Metals and Mining ETF, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 11.5% if each asset closes at or above its 70% coupon barrier 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 each asset finishes above its 70% trigger value. Otherwise, investors will be fully exposed to the losses of the lesser-performing asset.
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 ETFs: | iShares Silver Trust and SPDR S&P Metals and Mining ETF
|
| Amount: | $901,000
|
| Maturity: | May 2, 2024
|
| Coupon: | 11.5% per year if each asset closes at or above its coupon barrier on the related determination date; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par plus the coupon if each asset finishes above its trigger value; otherwise, investors will be fully exposed to the losses of the lesser-performing asset
|
| Call: | Automatically redeemed at par if each asset closes above its initial value on any observation date after six months
|
| Initial levels: | $41.76 for Metals and $24.39 for Silver
|
| Coupon barriers: | $29.23 for Metals and $17.07 for Silver; 70% of initial levels
|
| Trigger values: | $29.23 for Metals and $17.07 for Silver; 70% of initial levels
|
| Pricing date: | April 27
|
| Settlement date: | April 30
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.5%
|
| Cusip: | 09709UGP7
|
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