By Wendy Van Sickle
Columbus, Ohio, Aug. 6 – BofA Finance LLC price $685,000 of contingent income autocallable yield notes due Aug. 4, 2022 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 19% if each asset closes at or above its 60% threshold on the related determination date.
The notes will be automatically redeemed at par if each asset closes above 90% its initial value on any observation date.
The payout at maturity will be par plus the coupon if all three assets close above their 60% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing asset.
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 stocks: | Chewy Inc. and Five Below, Inc.
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| Amount: | $685,000
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| Maturity: | Aug. 4, 2022
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| Coupon: | 19% per year if each asset closes at or above its threshold on the related determination date; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par plus the coupon if all three assets close above their trigger values; otherwise, investors will be fully exposed to any losses of the worst performing asset
|
| Call: | Automatically redeemed at par if each asset closes above 90% its initial value on any observation date
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| Initial levels: | $34.43 for Chewy and $115.79 for Five Below
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| Threshold levels: | $20.66 for Chewy and $69.47 for Five Below; 60% of initial levels
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| Trigger values: | $20.66 for Chewy and $69.47 for Five Below; 60% of initial levels
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| Pricing date: | July 31
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| Settlement date: | Aug. 5
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| Underwriter: | BofA Securities, Inc.
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| Fees: | 3.125%
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| Cusip: | 09709TTP6
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