By Sarah Lizee
Olympia, Wash., Feb. 28 – BofA Finance LLC priced $172,000 of contingent income autocallable notes due Aug. 28, 2026 linked to the worse performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annual rate of 11.25% if each underlying asset closes at or above its 80% coupon barrier on the observation date for that month.
The notes will be called at par if each underlying component closes at or above its initial level on any determination date after one year.
The payout at maturity will be par unless either asset finishes below its 80% downside threshold, in which case investors will be exposed to the decline of the worse performing fund beyond 20%.
The notes are guaranteed by Bank of America Corp.
BofA Merrill Lynch is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Contingent income autocallable notes
|
| Underlying funds: | VanEck Vectors Gold Miners ETF, SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $172,000
|
| Maturity: | Aug. 28, 2026
|
| Coupon: | 11.25% annualized, payable monthly if each asset closes at or above 80% coupon barrier on observation date for that month
|
| Price: | Par
|
| Call: | At par if each component closes at or above its initial level on any review date after one year
|
| Payout at maturity: | If each asset finishes at or above downside threshold, par; otherwise, 1% loss for each 1% decline of worse performing asset beyond 20%
|
| Initial levels: | $22.77 for gold fund, $30.58 for oil fund
|
| Knock-in levels: | $18.22 for gold fund, $24.46 for oil fund, 80% of initial levels
|
| Pricing date: | Feb. 25
|
| Settlement date: | Feb. 28
|
| Underwriter: | BofA Merrill Lynch
|
| Fees: | 4.25%
|
| Cusip: | 09709TMW8
|
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