Chicago, April 14 – BofA Finance LLC priced $10 million of contingent income buffered autocallable securities due April 2, 2024 linked to the shares of Invesco QQQ trust, series 1, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.6%, paid monthly, if the ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons.
The securities will be called automatically starting May 10 at par if the price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date.
At maturity the payout will be par unless the ETF declines by more than its 15% buffer in which case investors will lose 1.1765% for each 1% decline of the ETF beyond the 15% buffer.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income buffered autocallable securities
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| Underlying ETF: | Invesco QQQ trust, series 1
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| Amount: | $10 million
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| Maturity: | April 2, 2024
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| Coupon: | 13.6%, paid monthly, if ETF closes at or above its downside threshold on the related monthly observation date, plus any previously unpaid coupons
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| Price: | Par
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| Payout at maturity: | Par if ETF gains or loses no more than its 15% buffer, otherwise investors will lose 1.1765% for each 1% decline beyond the buffer
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| Call: | Automatically starting May 10 at par if the price of the underlying ETF is greater than or equal to its initial price on any monthly call determination date
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| Initial level: | $318.05
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| Buffer level: | $270.34, 85% of initial level
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| Strike date: | April 6
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| Pricing date: | April 10
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| Settlement date: | April 13
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.1%
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| Cusip: | 09709VRU2
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