By Wendy Van Sickle
Columbus, Ohio, March 5 – BofA Finance LLC priced $350,000 of contingent income autocallable yield notes due Feb. 28, 2025 linked to the worst performing of the Energy Select Sector SPDR fund, Utilities Select Sector SPDR fund and Financial Select Sector SPDR fund, according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 8% if each ETF closes at or above its 70% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each ETF closes above its initial value on any monthy call observation date after six months.
The payout at maturity will be par plus the coupon, if any, if all three ETFs close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing ETF.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the 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 ETFs: | Energy Select Sector SPDR fund, Utilities Select Sector SPDR fund and Financial Select Sector SPDR fund
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| Amount: | $350,000
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| Maturity: | Feb. 28, 2025
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| Coupon: | 8% per year if each ETF closes at or above its coupon barrier on the related determination date; payable monthly
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| Price: | Par
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| Payout at maturity: | Par plus the coupon, if any, if all three ETFs close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing ETF
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| Call: | Automatically redeemed at par if each ETF closes above initial value on any monthly call observation date after six months
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| Initial levels: | $49.36 for energy fund, $68.05 | for utilities fund and $28.76 for financial fund
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| Coupon barriers: | $34.55 for energy fund, $47.64 for utilities fund and $20.13 for financial fund; 70% of initial levels
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| Trigger values: | $29.62 for energy fund, $40.83 for utilities fund and $17.26 for financial fund; 60% of initial levels
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| Pricing date: | Feb. 25
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| Settlement date: | Feb. 28
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 3.25%
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| Cusip: | 09709TZY0
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