BofA Finance LLC has taken a significant step in the structured finance market by filing a pricing supplement for its new Contingent Income Auto-Callable Yield Notes. These notes are linked to the common stock of Micron Technology, Inc. and are designed to offer investors a contingent coupon rate of 16.90% per annum, payable monthly under certain conditions. This move is indicative of the innovative financial products being developed in the National Commercial Banks sector, which seeks to attract a diverse range of investors.

As part of this offering, the notes are expected to price on November 13, 2026, and be issued on November 18, 2026. The structured product market is increasingly competitive, and BofA Finance's latest offering may influence how other banks approach similar products. The notes will not be listed on any securities exchange, which is a crucial detail for potential investors.

Background

BofA Finance LLC, a subsidiary of Bank of America Corporation, operates within the National Commercial Banks sector, identified by the SIC code 6021. The company is incorporated in Delaware and has its headquarters in Charlotte, North Carolina. This filing is part of a series of recent submissions, all dated November 6, 2026, which highlight the company's ongoing efforts to expand its financial product offerings.

What the Filing Says

The pricing supplement outlines that the notes are contingent upon the performance of Micron Technology's stock. "Payments on the Notes will depend on the performance of the common stock of Micron Technology, Inc.," the filing states. The notes are structured to provide a principal amount plus a contingent coupon payment if the stock performs well, but they also carry risks, including the potential loss of principal if the stock declines significantly.

Impact

This offering may attract a variety of investors looking for higher yields in a low-interest-rate environment. It also puts pressure on competitors within the National Commercial Banks sector to innovate and provide similar or improved financial products. The structured nature of these notes may appeal to risk-tolerant investors, while conservative investors may shy away due to the inherent risks involved.

What's Next

The notes are expected to price on November 13, 2026, with an issuance date of November 18, 2026. Further details on the performance and uptake of these notes will likely be disclosed in subsequent filings.