By William Gullotti
Buffalo, N.Y., May 9 – BofA Finance LLC priced $1.5 million of 0% market-linked autocallable securities with fixed percentage buffered downside due May 4, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will be automatically called at par plus a fixed annual call premium of 8.5% if the index closes at or above the initial level on any annual call observation date.
The payout at maturity will be par unless the index falls by more than 10% in which case investors will be exposed to losses beyond the 10% buffer.
The notes are guaranteed by Bank of America Corp.
Wells Fargo Securities, LLC and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Market-linked autocallable securities with fixed-percentage buffered downside
|
| Underlying index: | Russell 2000 index
|
| Amount: | $1,498,000
|
| Maturity: | May 4, 2026
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par unless index falls by more than 10%, in which case lose 1% for every 1% decline beyond 10%
|
| Call: | Automatically at par plus a 8.5% fixed annual call premium if the index closes at or above the initial level on any annual call observation date
|
| Initial level: | 1,917.944
|
| Threshold level: | 1,726.1496; 90% of initial level
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Agents: | Wells Fargo Securities, LLC and BofA Securities, Inc.
|
| Fees: | 2.825%
|
| Cusip: | 09709UM47
|
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