BofA Finance LLC filed a free writing prospectus on October 29, 2026, disclosing the summary terms of Contingent Income Auto-Callable Securities linked to UnitedHealth Group Incorporated common stock, due November 9, 2029, and fully and unconditionally guaranteed by Bank of America Corporation.

Key Highlights

  • Underlying stock: UnitedHealth Group Incorporated common stock (Bloomberg ticker: "UNH UN"), with a stated principal amount and issue price of $1,000.00 per security.
  • Contingent quarterly coupon: At least $25.625 per security (at least 2.5625% per quarter, or at least 10.25% per annum), payable only if the determination closing price is at or above the downside threshold price on a determination date.
  • Downside threshold price: 65% of the initial share price; if the final share price falls below this level, investors receive principal multiplied by the share performance factor, which the filing states may result in a loss.
  • Estimated value on pricing date: Expected to be between $917.50 and $967.50 per $1,000 in principal amount, meaning the public issue price exceeds the initial estimated value.
  • Auto-call feature: Securities are automatically redeemed early if, on any of the first eleven determination dates, the determination closing price is greater than or equal to the initial share price.
  • Listing status: The securities will not be listed on any securities exchange.
  • CUSIP / ISIN: 09712CLL5 / US09712CLL53; pricing date is November 6, 2026, with an original issue date of November 12, 2026.

Structure and Key Terms of BofA Finance's UNH-Linked Securities

According to the filing, BofA Finance LLC is the issuer of these securities as part of its "Medium-Term Notes, Series A" program, with Bank of America Corporation serving as guarantor. The filing states that "any payments on the securities are fully and unconditionally guaranteed by Bank of America Corporation." The securities are classified as senior debt securities, and the filing notes that BofA Finance "is a finance subsidiary and, as such, has no independent assets, operations, or revenues."

The filing describes a quarterly observation schedule beginning February 8, 2027, running through a final determination date of November 6, 2029. On each determination date, a contingent quarterly coupon of at least $25.625 per security is payable only if the determination closing price of UnitedHealth Group common stock is at or above the downside threshold price, which is set at 65% of the initial share price. If the closing price falls below that threshold on a given determination date, no coupon is paid for that quarter. The filing states explicitly that "investors will not participate in any appreciation of the underlying stock."

The filing's hypothetical payment table illustrates that if the securities reach maturity unredeemed and the underlying stock has declined by 36% or more from its initial share price, the payment at maturity falls below the $1,000.00 stated principal amount - for example, a -50% decline would result in a $500.00 payment per security. The filing discloses multiple risk factors, including that "your investment may result in a loss; there is no guaranteed return of principal," that a secondary trading market may never develop, and that returns are subject to the credit risk of both BofA Finance and Bank of America Corporation as guarantor.

What Was Disclosed

BofA Finance LLC filed a free writing prospectus under Rule 433 summarizing the terms of auto-callable, principal-at-risk securities linked to UnitedHealth Group common stock, guaranteed by Bank of America Corporation, with a maturity date of November 9, 2029, and CUSIP 09712CLL5.