New York, Nov. 22 – BofA Finance LLC priced $1.2 million of contingent income autocallable yield notes due Nov. 20, 2026 linked to the SPDR S&P Regional Banking ETF and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly observation date starting in May 2024.
If the worst performing ETF finishes at or above its 70% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing ETF declines from initial level.
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 autocallable yield notes
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| Underlying ETFs: | SPDR S&P Regional Banking ETF and Utilities Select Sector SPDR Fund
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| Amount: | $1.2 million
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| Maturity: | Nov. 20, 2026
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| Coupon: | 14%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing ETF finishes at or above its 70% threshold value, par; otherwise, 1% loss for every 1% that worst performing ETF declines from initial level
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| Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly observation date starting in May 2024
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| Initial levels: | $45.21 for SPDR S&P Regional Banking ETF, $62.29 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | $31.65 for SPDR S&P Regional Banking ETF, $43.60 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Coupon barriers: | $31.65 for SPDR S&P Regional Banking ETF, $43.60 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | Nov. 17
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| Settlement date: | Nov. 22
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.5%
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| Cusip: | 09710P5X0
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