By Kiku Steinfeld
Chicago, Jan. 5 – BofA Finance LLC priced $6.7 million of 0% trigger autocallable notes due Nov. 16, 2023 linked to the S&P 500 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 of $10 plus 6.73% per year if the index closes at or above the initial level on any quarterly observation date beginning May 12, 2022.
If the notes are not called and the index finishes at or above the downside threshold level, 75% of the initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the final level is less than the initial level.
BofA Securities, Inc. is the agent. UBS Financial Services Inc. is acting as the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Trigger autocallable notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $6,699,800
|
| Maturity: | Nov. 16, 2023
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless index finishes below downside threshold, in which case 1% loss for each 1% decline from initial level
|
| Call: | Automatically at par plus 6.73% per year if index closes at or above initial level on any quarterly observation date beginning May 12, 2022
|
| Initial index level: | 4,682.85
|
| Downside threshold: | 3,512.14, 75% of initial level
|
| Pricing date: | Nov. 12
|
| Settlement date: | Nov. 17
|
| Agents: | BofA Securities, Inc. with UBS Financial Services Inc. as selling agent
|
| Fees: | 1.5%
|
| Cusip: | 09710E374
|
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