Chicago, May 24 – BofA Finance LLC priced $747,000 of 0% market-linked securities that are autocallable with fixed-percentage buffered downside due July 6, 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 9.5% annualized call premium if the index closes at or above its initial level on any annual observation date.
If the index finishes above its initial level, the payout at maturity will be par plus the final 38% call premium.
Investors will receive par if the index declines but finishes above 90% threshold level.
Otherwise, investors will be exposed to the losses of the index beyond the buffer.
BofA Securities, Inc. and Wells Fargo Securities, LLC are the agents.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Market-linked securities – autocallable with fixed-percentage buffered downside
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| Underlying index: | Russell 2000 index
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| Amount: | $747,000
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| Maturity: | July 6, 2026
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | Par plus final 38% call premium if index finishes above initial level; par if index declines but not beyond threshold level; otherwise, exposure to losses beyond 10% buffer
|
| Call: | Automatically at par plus a 9.5% annualized call premium if the index closes at or above its initial level on any annual observation date
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| Initial level: | 1,719.37
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| Buffer level: | 1,547.433, 90% of initial level
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| Pricing date: | June 29, 2022
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| Settlement date: | July 5, 2022
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| Underwriters: | BofA Securities, Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.825%
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| Cusip: | 09709UZ50
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