BofA Finance LLC, a subsidiary of Bank of America Corporation, has filed a pricing supplement for its new contingent income auto-callable yield notes linked to the common stock of Uber Technologies, Inc. This filing, dated October 21, 2026, is significant as it expands the company's offerings in the competitive national commercial banking sector.
The contingent income auto-callable yield notes are designed to provide investors with potential monthly coupon payments, depending on the performance of Uber's stock. The notes will price on November 4, 2026, and are expected to issue on November 9, 2026. This move indicates BofA Finance's strategy to tap into structured products that can attract investors looking for alternative investment opportunities.
Background
BofA Finance LLC is a financial services company incorporated in Delaware and operates under the SIC code 6021, which pertains to national commercial banks. The company is a subsidiary of Bank of America Corporation, which is also involved in the same SIC category. The recent filing is part of a series of filings made by BofA Finance, highlighting its ongoing activities in the financial markets.
What the Filing Says
The pricing supplement states, "This pricing supplement, which is not complete and may be changed, relates to an effective Registration Statement under the Securities Act of 1933." It also details the structure of the notes, which are linked to Uber's stock performance and include a contingent coupon rate of 10.60% per annum, payable monthly if specific conditions are met.
Impact
This new offering may affect various stakeholders, including investors seeking structured products and competitors in the national commercial banking sector. The notes are subject to the credit risk of BofA Finance LLC and Bank of America Corporation, which serves as the guarantor for the notes.
What's Next
The notes are set to price on November 4, 2026, with an issuance date following shortly after on November 9, 2026. Investors will be closely watching the performance of Uber Technologies, Inc. as it will directly impact the returns on these notes.