By Wendy Van Sickle
Columbus, Ohio, March 23 – BofA Finance LLC priced $1.5 million of contingent income autocallable yield notes due March 21, 2024 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if the stock closes at or above the coupon barrier, 65% of the initial level, on the observation date for that period.
The notes will be called at par plus any contingent coupon if the shares close above their initial level on any quarterly observation date other than the final one.
The payout at maturity will be par unless the stock finishes below its 65% 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stock: | JPMorgan Chase & Co.
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| Amount: | $1.5 million
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| Maturity: | March 21, 2024
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| Coupon: | 8% annual rate, payable quarterly if the shares close at or above coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline
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| Call: | At par plus any coupon if shares close above their initial levels on any quarterly observation date other than final one
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| Initial level: | $140.10
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| Coupon barrier: | $91.07; 65% of initial level
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| Downside threshold: | $91.07; 65% of initial level
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| Pricing date: | March 18
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| Settlement date: | March 23
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 2.35%
|
| Cusip: | 09709UK64
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