By Wendy Van Sickle
Columbus, Ohio, Oct. 23 – BofA Finance LLC priced $853,000 of contingent income buffered autocallable securities due Oct. 21, 2022 linked to the lesser performing of the Euro Stoxx Banks index and the United States Oil Fund, LP, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Each month, the notes will pay a contingent coupon at the rate of 10.4% per year if each underlier closes at or above its coupon barrier level, 70% of its initial level, on the determination date for that month.
After one year, the notes will be automatically called at par if each underlier closes at or above its initial level on any monthly determination date.
The payout at maturity will be par unless either underlier finishes below its buffer level, 80% of its initial level, in which case investors will lose 1% for every 1% that the lesser-performing underlier declines beyond 20%.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable securities
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| Underliers: | Euro Stoxx Banks index and United States Oil Fund, LP
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| Amount: | $853,000
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| Maturity: | Oct. 21, 2022
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| Coupon: | 10.4% per year, payable monthly if each underlier closes at or above coupon barrier level on determination date
|
| Price: | Par
|
| Payout at maturity: | Par unless either underlier finishes below buffer level, in which case 1% loss for every 1% that lesser-performing underlier declines beyond 20%
|
| Call: | After one year, automatically at par if each underlier closes at or above initial level on any monthly determination date
|
| Initial levels: | 91.4 for index and $11.22 for fund
|
| Coupon barriers: | 63.98 for index and $7.85 for fund; 70% of initial levels
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| Buffer levels: | 73.12 for index and $8.98 for fund; 80% of initial levels
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| Pricing date: | Oct. 18
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| Settlement date: | Oct. 23
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| Agent: | BofA Securities, Inc.
|
| Fees: | 4.5%
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| Cusip: | 09709TWJ6
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