By William Gullotti
Buffalo, N.Y., April 18 – BofA Finance LLC priced $5.4 million of contingent income autocallable yield notes due April 2, 2026 linked to the shares of MetLife, Inc., according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annual rate of 11.66% if the shares close at or above their coupon barrier, 60% of their level, on the observation date for that quarter.
After six months, the notes will be called at par plus the contingent coupon if the shares close at or above their initial level on any quarterly observation date.
The payout at maturity will be par plus the final coupon unless the stock finishes below its 60% threshold level, in which case investors will be fully exposed to the losses.
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 autocallable yield notes
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| Underlying shares: | MetLife, Inc.
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| Amount: | $5.4 million
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| Maturity: | April 2, 2026
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| Coupon: | 11.66% annual rate, payable quarterly if the shares close at or above coupon barrier on observation date for that quarter
|
| Price: | Par
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| Payout at maturity: | If stock finishes at or above downside threshold, par plus final coupon; otherwise, 1% loss for each 1% decline
|
| Call: | At par plus coupon if shares close at or above initial levels on any quarterly observation date after six months
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| Initial level: | $56.49
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| Coupon barrier: | $33.89, 60% of initial level
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| Downside threshold: | $33.89, 60% of initial level
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| Pricing date: | March 29
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| Settlement date: | March 31
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| Selling agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 09709VNA0
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