Chicago, Nov. 13 – BofA Finance LLC priced $694,000 of contingent income buffered autocallable yield notes due Oct. 28, 2021 linked to the least performing of the Russell 2000 index and the Energy Select Sector SPDR fund, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will pay a contingent quarterly coupon at an annual rate of 6% if each underlying asset closes at or above its 80% coupon barrier on the relevant observation date.
The notes will be called at par plus the coupon if each underlying asset closes at or above its initial level on any observation date starting in January 2020.
The payout at maturity will be par plus the final coupon if the least performing asset finishes at or above its 80% threshold value. Otherwise, investors will be exposed to the losses of the least performing asset from its initial value.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable yield notes
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| Underlying assets: | Russell 2000 index and the Energy Select Sector SPDR fund
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| Amount: | $694,000
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| Maturity: | Oct. 28, 2021
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| Coupon: | 6% per year; payable each quarter that each asset’s closing level is greater than or equal to coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset finishes below threshold value, in which case investors will be fully exposed to any losses of the lesser performing asset
|
| Call: | Automatically at par plus the coupon if each underlying component closes at or above its initial level on any observation date starting in January 2020
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| Initial values: | 1,558.708 for index, $59.52 for fund
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| Coupon barriers: | 1,246.966 for index, $47.62 for fund; 80% of initial values
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| Threshold values: | 1,246.966 for index, $47.62 for fund; 80% of initial values
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| Pricing date: | Oct. 25
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| Settlement date: | Oct. 30
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 2.25%
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| Cusip: | 09709TWM9
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