New York, April 14 – BofA Finance LLC priced $10 million of contingent income buffered autocallable securities due April 8, 2024 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.1%, paid monthly, if the underlying fund closes at or above its 85% coupon barrier on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date starting May 3.
At maturity, the payout will be par unless the fund declines by more than 15%, in which case investors will lose 1.1765% for each 1% decline beyond 15%.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent. Morgan Stanley Wealth Management is the dealer.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying ETF: | SPDR S&P 500 ETF Trust
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| Amount: | $10 million
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| Maturity: | April 8, 2024
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| Coupon: | 12.1%, paid monthly, if the underlying fund closes at or above its 85% coupon barrier on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if the fund finishes at or above 85% of initial level; otherwise, lose 1.1765% for each 1% decline beyond 15%
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| Call: | Automatically at par if the closing price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date starting May 3
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| Initial level: | $395.60
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| Buffer: | 15%
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| Coupon barrier: | $336.26, 85% of initial level
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| Pricing date: | March 29
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| Settlement date: | April 3
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| Agent: | BofA Securities, Inc.
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| Dealer: | Morgan Stanley Wealth Management
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| Fees: | 0.1% including a structuring fee of 0.05%
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| Cusip: | 09709VQG4
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