By William Gullotti
Buffalo, N.Y., April 18 – BofA Finance LLC priced $1.02 million of contingent income autocallable yield notes due April 5, 2027 linked to the shares of Salesforce, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.85% if the shares close at or above their coupon barrier, 75% of their level, on the relevant observation date.
The notes will be automatically called at par plus the contingent coupon if the shares close at or above their initial level on any quarterly observation date.
The payout at maturity will be par the final coupon unless the stock finishes below its 75% 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 shares: | Salesforce, Inc.
|
| Amount: | $3,934,000
|
| Maturity: | April 5, 2027
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| Coupon: | 11.85% annual rate, payable quarterly if the shares close at or above coupon barrier on the relevant observation date
|
| Price: | Par
|
| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline
|
| Call: | Automatically at par plus coupon if shares close at or above initial level on any quarterly observation date
|
| Initial level: | $302.37
|
| Coupon barrier: | $226.78, 75% of initial level
|
| Downside threshold: | $226.78, 75% of initial level
|
| Pricing date: | April 9
|
| Settlement date: | April 11
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09711BME3
|
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