By Wendy Van Sickle
Columbus, Ohio, Nov. 1 – BofA Finance LLC priced $24.55 million of 0% autocallable market-linked step-up notes due Oct. 25, 2024 linked to the S&P 500 index, according to a 424B2 with the Securities and Exchange Commission.
The notes will be called at par plus a call premium of 7.87% per year if the index closes at or above its initial level on any annual observation date.
If the index finishes above the step-up value, 118% of the initial level, the payout at maturity will be par plus the index gain.
If the index finishes flat or gains by up to the step-up level, the payout will be par plus the step-up payment of 18%.
Investors will lose 1% for each 1% decline.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp
|
| Issue: | Autocallable market-linked step-up notes
|
| Underlying index: | S&P 500 index
|
| Amount: | $24,551,840
|
| Maturity: | Oct. 25, 2024
|
| Coupon: | 0%
|
| Price: | Par of $10
|
| Payout at maturity: | If the index finishes above the step-up level, par plus the index gain; if the index finishes flat or gains up to the step-up level, par plus 18%; 1% loss for each 1% index decline
|
| Call: | At par plus 7.87% per year if the index closes at or above its initial level on any annual observation date
|
| Initial level: | 4,596.42
|
| Step-up value: | 5,423.78, 118% of initial level
|
| Pricing date: | Oct. 28
|
| Settlement date: | Nov. 4
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 2%
|
| Cusip: | 09710D780
|
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