By Wendy Van Sickle
Columbus, Ohio, Feb. 6 – BofA Finance LLC priced $10.22 million of 0% market-linked securities that are autocallable with fixed-percentage buffered downside due Feb. 4, 2027 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The securities will be called automatically at par plus an annual 8% premium if the closing price of the underlying index is greater than or equal to its initial price on any annual call determination date.
The maturity date call premium is 24%.
If the notes are not called, the payout will be par unless the index finishes below its 90% downside threshold level, in which case investors will be exposed to the decline of the index beyond the 10% buffer.
The notes are guaranteed by Morgan Stanley.
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: | S&P 500 index
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| Amount: | $10.22 million
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| Maturity: | Feb. 4, 2027
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | If called, par plus 24%; otherwise, par unless the index finishes below its downside threshold level, in which case investors will be exposed to the decline in the index beyond the 10% buffer
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| Call: | Automatically at par plus 8% annual premium if the closing price of the underlying index is greater than or equal to its initial price on any annual call determination date
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| Initial level: | 4,924.97
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| Downside threshold: | 4,432.473, 90% of initial level
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| Pricing date: | Jan. 30
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| Settlement date: | Feb. 2
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| Agents: | BofA Securities, Inc. and Wells Fargo Securities, LLC
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| Fees: | 2.45%
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| Cusip: | 61774DZE0
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