Kiku Steinfeld
Chicago, Dec. 21 – BofA Finance LLC priced $9.14 million of trigger callable contingent yield notes due Dec. 15, 2025 linked to the least performing of the iShares MSCI EAFE ETF, the iShares Russell 2000 ETF and the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
Each quarter, the notes pay a contingent coupon at a rate of 7% per year if each ETF closes at or above its coupon barrier, 70% of its initial level, on the observation date that quarter.
The notes are callable at par of $10 plus any coupon due on any quarterly coupon payment date.
If the notes are not called and each ETF finishes at or above its downside threshold, 60% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the least-performing ETF’s final level is below its initial level.
The notes are guaranteed by Bank of America Corp.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Trigger callable contingent yield notes
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Underlying ETFs: | iShares MSCI EAFE ETF, iShares Russell 2000 ETF and SPDR S&P 500 ETF trust
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Amount: | $9.14 million
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Maturity: | Dec. 15, 2025
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Coupon: | 7% per year, payable quarterly if each ETF closes at or above its coupon barrier on observation date that quarter
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Price: | Par of $10
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Payout at maturity: | If each ETF finishes at or above downside threshold, par; otherwise, 1% loss for every 1% that least-performing ETF’s final level is below initial level
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Call option: | At par plus any coupon due on any quarterly coupon payment date
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Initial levels: | $366.73 for S&P, $191.24 for Russell 2000 and $72.40 for EAFE
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Coupon barriers: | $256.71 for S&P, $133.87 for Russell 2000 and $50.68 for EAFE, or 70% of initial levels
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Downside thresholds: | $220.04 for S&P, $114.74 for Russell 2000 and $43.44 for EAFE, or 60% of initial levels
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Pricing date: | Dec. 10
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Settlement date: | Dec. 15
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Agents: | UBS Financial Services Inc. and BofA Securities, Inc.
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Fees: | 1.35%
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Cusip: | 05591G181
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