By William Gullotti
Buffalo, N.Y., July 24 – BofA Finance LLC priced $22.85 million of 9% trigger callable yield notes due Oct. 24, 2024 linked to the iShares Russell 2000 ETF and the SPDR S&P MidCap 400 ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are guaranteed by Bank of America Corp.
Interest is payable monthly.
The notes are callable at par on any coupon payment date after three months.
The payout at maturity will be par of $10 unless the laggard ETF finishes below its 60% downside threshold level, in which case investors will lose 1% for each 1% decline of that ETF.
UBS Financial Services Inc. and BofA Securities, Inc. are the agents.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Trigger callable yield notes
|
| Underlying funds: | iShares Russell 2000 ETF, SPDR S&P MidCap 400 ETF
|
| Amount: | $22,852,960
|
| Maturity: | Oct. 24, 2024
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| Coupon: | 9% per year, payable monthly
|
| Price: | Par of $10
|
| Payout at maturity: | Par unless laggard ETF finishes below downside threshold, in which case 1% loss for each 1% decline of that ETF
|
| Call option: | At par on any coupon date starting after three months
|
| Initial levels: | $196.80 for iShares, $497.67 for SPDR
|
| Downside thresholds: | $118.08 for iShares, $298.60 for SPDR; 60% of initial levels
|
| Pricing date: | July 19
|
| Settlement date: | July 24
|
| Underwriter: | UBS Financial Services Inc. and BofA Securities, Inc.
|
| Fees: | None
|
| Cusip: | 09710K826
|
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