BofA Finance LLC filed a free writing prospectus on November 9, 2026, disclosing the term sheet for Market Linked Securities auto-callable with fixed percentage buffered downside linked to the lowest performing of the S&P 500 Index and the Dow Jones Industrial Average, with a maturity date of November 26, 2029.

Key Highlights

  • Structure: The securities are auto-callable and linked to the lowest performing of two underlyings, the S&P 500 Index and the Dow Jones Industrial Average, with a maturity date of November 26, 2029.
  • Call premiums: If called on November 26, 2027, holders receive at least 9.35% of principal; at least 18.70% if called November 27, 2028; and at least 28.05% if called on the Final Calculation Day of November 20, 2029.
  • Buffer and threshold: The buffer amount is 10%, and the Threshold Value for each underlying is 90% of its Starting Value; losses below the threshold are borne by the investor and could be as large as 90% of principal.
  • Initial estimated value: As of the pricing date, the initial estimated value of the securities is expected to be between $915.00 and $965.00 per security, which the filing notes is less than the public offering price.
  • Underwriting discount: Up to 2.575% per security; dealers may receive a selling concession of 2.00% per security, and Wells Fargo Advisors may receive a distribution expense fee of 0.075% per security.
  • Denominations: Securities are issued in denominations of $1,000 and any integral multiple of $1,000, with CUSIP 09712HPG1.
  • No interest: According to the filing, the securities do not bear interest, and any positive return is limited to the applicable call premium.

Terms and Risk Profile of BofA Finance's Auto-Callable Buffered Securities

BofA Finance LLC, fully and unconditionally guaranteed by Bank of America Corporation, disclosed a term sheet for structured Market Linked Securities under Registration Statement Nos. 333-290665 and 333-290665-01. The pricing date is set for November 20, 2026, with an issue date of November 25, 2026, and a maturity date of November 26, 2029, all subject to change according to the filing.

The securities will be automatically called if the closing level of the lowest performing underlying on any call date is greater than or equal to 100% of its Starting Value, which is defined as each underlying's closing level on the pricing date. If called, investors receive principal plus the applicable call premium. The filing notes that any positive return is capped at the call premium, even if the lowest performing underlying significantly exceeds its call value. The calculation agent is BofA Securities, Inc., an affiliate of BofA Finance.

If not automatically called and the ending value of the lowest performing underlying falls below its Threshold Value of 90% of Starting Value, investors receive $1,000 multiplied by the sum of the Performance Factor of the lowest performing underlying on the Final Calculation Day plus the 10% Buffer Amount. The filing states that investors could receive "less, and possibly 90% less, than the principal amount" at maturity. The filing also discloses that the public offering price will exceed the initial estimated value range of $915.00 to $965.00 per security, and that BofA Finance cannot assure investors that a trading market will develop or be maintained for the securities.

What Was Disclosed

BofA Finance LLC filed a term sheet for auto-callable, principal-at-risk securities linked to the S&P 500 Index and Dow Jones Industrial Average, maturing November 26, 2029, with a 10% buffer, tiered call premiums, and an initial estimated value of $915.00 to $965.00 per security.