By Wendy Van Sickle
Columbus, Ohio, Nov. 18 – BofA Finance LLC priced $600,000 of contingent income autocallable yield notes due May 4, 2023 linked to the worst performing of the common stocks of Chewy Inc. and Five Below, Inc., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 20% if each stock closes at or above its 60% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each stock closes above 85% of its initial value on any quarterly call observation date.
The payout at maturity will be par plus the coupon if both stocks close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income autocallable yield notes
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| Underlying stocks: | Chewy Inc. and Five Below, Inc.
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| Amount: | $600,000
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| Maturity: | May 4, 2023
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| Coupon: | 20% per year if each stock closes at or above its coupon barrier on the related determination date; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par plus the coupon if all stocks close above their trigger values; otherwise, investors will be fully exposed to the losses of the worst performing stock
|
| Call: | Automatically at par if each stock closes at or above 85% of its initial value on any quarterly call observation date
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| Initial levels: | $61.60 for Chewy, $133.34 for Five Below
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| Coupon barriers: | $36.96 for Chewy, $80.00 for Five Below; 60% of initial levels
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| Trigger values: | $36.96 for Chewy, $80.00 for Five Below; 60% of initial levels
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| Pricing date: | Oct. 30
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| Settlement date: | Nov. 4
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 3.25%
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| Cusip: | 09709TZ53
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