BofA Finance LLC filed a free writing prospectus on November 6, 2026, disclosing terms for Market Linked Securities auto-callable with leveraged upside participation and contingent downside, linked to the iShares MSCI Brazil ETF and due November 14, 2031, fully and unconditionally guaranteed by Bank of America Corporation.

Key Highlights

  • Underlying asset: The securities are linked to the iShares MSCI Brazil ETF (Bloomberg symbol: EWZ).
  • Automatic call feature: If the fund closing price on November 16, 2027, equals or exceeds the Starting Price, the securities are automatically called at principal plus a Call Premium of at least 20.00%.
  • Upside Participation Rate: 175% of the Underlying Return if the Ending Price is at or above the Starting Price and the securities are not called.
  • Threshold Price: Set at 75% of the Starting Price; if the Ending Price falls below this level, holders bear full downside exposure and may lose all principal.
  • Initial estimated value: Expected to be between $910.00 and $960.00 per Security as of the Pricing Date, below the $1,000 public offering price.
  • Underwriting discount: Up to 2.825% per Security, with dealers potentially receiving a selling concession of 2.00% and Wells Fargo Advisors eligible for a distribution expense fee of 0.075%.
  • CUSIP: 09712HC42, with a Pricing Date of November 10, 2026, and an Issue Date of November 16, 2026.

Structure and Payout Terms of the Brazil ETF-Linked Securities

According to the filing, BofA Finance LLC is the issuer of these principal-at-risk securities, which are fully and unconditionally guaranteed by Bank of America Corporation. The securities are structured products linked to the iShares MSCI Brazil ETF, an exchange-traded fund that tracks Brazilian equity markets and therefore carries emerging market risk, foreign currency exchange rate risk, and risks associated with foreign securities markets. The filing notes that BofA Finance "is a finance subsidiary and, as such, has no independent assets, operations or revenues," meaning payments depend entirely on BAC as guarantor.

The filing describes three possible payout scenarios at maturity if the securities are not automatically called. First, if the Ending Price is at or above the Starting Price, holders receive $1,000 plus $1,000 multiplied by the Underlying Return multiplied by the 175% Upside Participation Rate. Second, if the Ending Price is below the Starting Price but at or above the Threshold Price of 75% of the Starting Price, holders receive $1,000, preserving principal. Third, if the Ending Price falls below the Threshold Price, holders receive $1,000 plus $1,000 multiplied by the Underlying Return, exposing them to losses exceeding 25% and potentially all principal. The securities bear no interest and are not bank deposits, and the filing states they are not insured or guaranteed by the FDIC or any other governmental agency.

The filing also discloses that selected dealers may receive a fee of up to 0.30% per Security for marketing and other services, in addition to the underwriting discount. The calculation agent is BofA Securities, Inc., an affiliate of BofA Finance, and the filing identifies potential conflicts of interest arising from that affiliation, as well as from trading and hedging activities conducted by BofA Finance, BAC, and their affiliates. The preliminary pricing supplement, dated November 6, 2026, is referenced for complete risk disclosures under Registration Statement Nos. 333-290665 and 333-290665-01.

What Was Disclosed

BofA Finance LLC disclosed a term sheet for auto-callable, principal-at-risk securities linked to the iShares MSCI Brazil ETF, maturing November 14, 2031. Key terms include a minimum 20.00% Call Premium, a 175% Upside Participation Rate, a 75% Threshold Price, and an initial estimated value of $910.00 to $960.00 per $1,000 Security.