By Kiku Steinfeld
Chicago, Nov. 9 – BofA Finance LLC priced $1.47 million of contingent income buffered autocallable yield notes due March 14, 2025 linked to the least performing of the iShares Silver Trust and the VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 8.75% if each ETF closes at or above its coupon barrier, 80% of its initial level, on the observation date for that month.
The notes will be called at par plus the contingent coupon if each ETF closes at or above its initial level on any quarterly observation date after one year.
The payout at maturity will be par unless any ETF finishes below its 80% buffer level, in which case investors will be fully exposed to the losses of the worst performing ETF beyond 20%.
The notes are 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 buffered autocallable yield notes
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| Underlying ETFs: | iShares Silver Trust and the VanEck Gold Miners ETF
|
| Amount: | $1,473,000
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| Maturity: | March 14, 2025
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| Coupon: | 8.75% annual rate, payable monthly if each ETF closes at or above coupon barrier on observation date for that month
|
| Price: | Par
|
| Payout at maturity: | If each ETF finishes at or above buffer, par; otherwise 1% loss for each 1% decline of worst performing ETF beyond 20%
|
| Call: | At par plus coupon if each ETF closes at or above its initial level on any quarterly observation date after one year
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| Initial levels: | $23.87 for silver, $38.29 for gold
|
| Coupon barriers: | $19.10 for silver, $30.63 for gold; 80% of initial levels
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| Buffers: | $19.10 for silver, $30.63 for gold; 80% of initial levels
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| Pricing date: | March 11
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| Settlement date: | March 16
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 3.25%
|
| Cusip: | 09709UC89
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