By William Gullotti
Buffalo, N.Y., April 9 – BofA Finance LLC priced $1.55 million of contingent income autocallable yield notes due May 8, 2025 linked to the shares of Hess Corp., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 14.25% if the shares close at or above their coupon barrier, 77% of their level, on the relevant observation date.
After six months, the notes will be called at par plus the contingent coupon if the shares close at or above their initial level on any observation date.
The payout at maturity will be par the final coupon unless the stock finishes below its 77% 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 shares: | Hess Corp.
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| Amount: | $1,547,000
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| Maturity: | May 8, 2025
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| Coupon: | 14.25% annual rate, payable monthly if the shares close at or above coupon barrier on the relevant observation date
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline
|
| Call: | Automatically at par plus coupon if shares close at or above initial level on any monthly observation date after six months
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| Initial level: | $156.18
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| Coupon barrier: | $120.26, 77% of initial level
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| Downside threshold: | $120.26, 77% of initial level
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| Pricing date: | April 3
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| Settlement date: | April 8
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| Selling agent: | BofA Securities, Inc.
|
| Fees: | 1.5%
|
| Cusip: | 09711BEC6
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