By Wendy Van Sickle
Columbus, Ohio, Aug. 7 – BofA Finance LLC priced $5 million of autocallable contingent coupon (with memory) barrier notes due Aug. 10, 2026 linked to a basket of the common stocks of Halliburton Co. (33.34% weight), Schlumberger NV (33.33% weight) and Exxon Mobil Corp. (33.33% weight), according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a contingent quarterly coupon at an annual rate of 13.1% if the basket closes at or above its coupon barrier price, 80% of its initial price, on the corresponding observation date, plus any previously unpaid coupon.
The notes will be called at par plus coupon if the basket closes at or above its initial level on any quarterly observation date starting after one year.
If the notes are not called, the payout at maturity will be par plus the final coupon unless the basket finishes below its 80% trigger price, in which case investors will be fully exposed to the decline.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the underwriter.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Autocallable contingent coupon (with memory) barrier notes
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Underlying basket: | Halliburton Co. (33.34% weight), Schlumberger NV (33.33% weight) and Exxon Mobil Corp. (33.33% weight)
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Amount: | $5 million
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Maturity: | Aug. 10, 2026
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Coupon: | 13.1% annual rate, payable quarterly if basket closes at or above trigger price on the corresponding observation date, plus any previously unpaid coupon
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Price: | Par
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Payout at maturity: | Par plus the final coupon unless basket finishes below trigger price, in which case full exposure to decline
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Call: | At par plus coupon if basket closes at or above initial level on any quarterly observation date starting after one year
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Initial share prices: | $39.03 for Halliburton, $57.47 for Schlumberger, $105.29 for Exxon Mobil
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Coupon barrier level: | 80% of initial level
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Trigger price: | 80% of initial level
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Pricing date: | Aug. 2
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Settlement date: | Aug. 9
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Underwriter: | BofA Securities, Inc.
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Fees: | 1%
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Cusip: | 09710M103
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