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BofA Finance Auto-Callable Notes: CUSIP 09712HMJ8 Due 2029

BofA Finance LLC filed a free writing prospectus on November 13, 2026, disclosing terms for Market Linked Securities auto-callable with contingent downside, linked to the lowest performing of three major indexes and maturing November 23, 2029.

Key Highlights

  • Issuer and guarantor: BofA Finance LLC is the issuer; Bank of America Corporation provides a full and unconditional guarantee.
  • Three linked indexes: The securities are tied to the Russell 2000 Index, the S&P 500 Index, and the EURO STOXX 50 Index, with payouts determined by the lowest performer among the three.
  • Call premium rate: The call premium increases at a simple (non-compounding) rate of at least approximately 12.25% per annum, reaching at least 36.750% of principal on the Final Calculation Day of November 19, 2029.
  • Threshold value: Each underlying's threshold is set at 60% of its Starting Value; if the lowest performer falls below this level at maturity, investors lose principal proportionally, potentially losing all of it.
  • Initial estimated value: The filing states the initial estimated value is expected to be between $915.00 and $965.00 per Security, below the public offering price of $1,000.
  • Underwriting discount: Up to 2.575% per Security; dealers using the Wells Fargo Advisors trade name may receive a selling concession of 2.00% per Security and an additional distribution expense fee of 0.075% per Security.
  • CUSIP: 09712HMJ8, with denominations of $1,000 and any integral multiple of $1,000.

Structure and Payout Terms of the November 2029 Linked Securities

According to the filing, BofA Finance LLC is offering Market Linked Securities under Registration Statement Nos. 333-290665 and 333-290665-01. The securities are described as "Auto-Callable with Contingent Downside" and are structured as principal-at-risk instruments. The pricing date is set for November 17, 2026, with an issue date of November 20, 2026, and a maturity date of November 23, 2029, all subject to change as noted in the term sheet.

The filing discloses that automatic call provisions apply on monthly call dates beginning November 22, 2027. If the closing level of the lowest performing underlying on any call date equals or exceeds its Starting Value, the securities are called and the investor receives principal plus the applicable call premium. The call premiums escalate monthly, from at least 12.250% of principal on the first call date to at least 36.750% on the Final Calculation Day. BofA Finance is identified in the filing as "a finance subsidiary and, as such, have no independent assets, operations or revenues," with all payment obligations depending on the guarantee provided by Bank of America Corporation (NYSE:BAC).

The filing specifies that if the securities are not called and the lowest performing underlying's ending value is below its threshold value at maturity, investors receive $1,000 multiplied by the performance factor of that lowest performer, meaning losses could be substantial. The filing states: "you will lose more than 40%, and possibly all, of the principal amount of your Securities on the Maturity Date." The securities bear no interest and any positive return is capped at the applicable call premium. BofA Securities, Inc., an affiliate of BofA Finance, serves as the calculation agent.

What Was Disclosed

BofA Finance LLC filed a free writing prospectus setting out the full term sheet for auto-callable, principal-at-risk securities linked to three equity indexes, with CUSIP 09712HMJ8, monthly call opportunities, a 60% downside threshold, and an estimated value below the offering price.