By Kiku Steinfeld
Chicago, Oct. 26 – BofA Finance LLC priced $503,000 of contingent income issuer callable yield notes due Aug. 1, 2024 linked to the worst performing of the iShares Silver Trust and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 8% if each underlier closes at or above its 70% coupon barrier on the observation date for that period.
The notes are callable at par plus any coupon due on any quarterly determination date after six months.
If the notes are not called and each underlier finishes at or above its coupon barrier, the payout at maturity will be par plus the final coupon. Otherwise, investors will be fully exposed to the decline of the worst performer from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying assets: | iShares Silver Trust, VanEck Vectors Gold Miners ETF
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| Amount: | $503,000
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| Maturity: | Aug. 1, 2024
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| Coupon: | 8% annualized rate, payable quarterly if each underlier closes at or above its coupon barrier on observation date for that period
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| Price: | Par
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| Payout at maturity: | If the final level of each underlier is greater than or equal to its downside threshold, par plus the final coupon; otherwise, investors will lose 1% for every 1% decline of the worst performer from its initial level
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| Call option: | At par plus any coupon due on any quarterly determination date after six months
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| Initial levels: | $33.68 for Gold, $22.96 for Silver
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| Coupon barriers: | $22.96 for Gold, $16.07 for Silver; 70% of initial levels
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| Downside thresholds: | $22.96 for Gold, $16.07 for Silver; 70% of initial levels
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| Pricing date: | July 27
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| Settlement date: | July 30
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2.25%
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| Cusip: | 09709UMS4
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