By William Gullotti
Buffalo, N.Y., March 1 – BofA Finance LLC priced $25.8 million of 0% autocallable market-linked step-up notes due Feb. 27, 2026 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
The notes will be automatically called at par plus a 13.15% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up level, 140% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains up to the step-up level, the payout will be par plus the step-up payment of 40%.
Investors will be fully exposed to any index decline.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | Russell 2000 index
|
| Amount: | $25,797,810
|
| Maturity: | Feb. 27, 2026
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 40%; otherwise, full exposure to loss
|
| Call: | Automatically at par plus a 13.15% annualized call premium if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 1,908.093
|
| Step-up value: | 2,671.33; 140% of initial level
|
| Pricing date: | Feb. 23
|
| Settlement date: | March 2
|
| Underwriter: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 06054E374
|
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