By William Gullotti
Buffalo, N.Y., April 5 – BofA Finance LLC priced $3.35 million of contingent income issuer callable yield notes due April 17, 2024 linked to the performance of the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 5.2% if the index closes at or above its 50% coupon barrier on the observation date for that period.
The notes are callable at par on any quarterly determination date.
The payout at maturity will be par plus the final coupon unless the index finishes below its 50% threshold level, in which case investors will be fully exposed to decline from the initial level.
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.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $3,352,000
|
| Maturity: | April 17, 2024
|
| Coupon: | 5.2% annualized rate, payable quarterly if the index closes at or above its coupon barrier on observation date for that period
|
| Price: | Par
|
| Payout at maturity: | If the index finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline from initial level
|
| Call option: | At par on any quarterly determination date
|
| Initial level: | 4,530.41
|
| Coupon barrier: | 2,265.21; 50% of initial levels
|
| Downside threshold: | 2,265.21; 50% of initial levels
|
| Pricing date: | March 31
|
| Settlement date: | April 5
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.35%
|
| Cusip: | 09709UL97
|
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