BofA Finance LLC filed a free writing prospectus on October 28, 2026, outlining the terms of Market Linked Securities auto-callable with fixed percentage buffered downside, linked to the S&P 500 Index and due November 14, 2030, fully and unconditionally guaranteed by Bank of America Corporation (NYSE:BAC).

Key Highlights

  • Pricing and issue dates: The securities are expected to price on November 11, 2026, with an issue date of November 16, 2026, and a maturity date of November 14, 2030.
  • Auto-call schedule: The securities may be called on four annual call dates beginning November 16, 2027, with call premiums of at least 8.05%, 16.10%, 24.15%, and 32.20% of principal, respectively, to be confirmed on the pricing date.
  • Buffer protection: A 7.50% buffer amount is provided, with a threshold value of 92.50% of the starting value; losses are possible if the ending value falls below the threshold.
  • Initial estimated value: The initial estimated value of the securities as of the pricing date is expected to be between $915.00 and $965.00 per security, which the filing states "is less than the public offering price."
  • Denominations: Securities are offered in denominations of $1,000 and any integral multiple of $1,000, with CUSIP 09712GJN5.
  • Underwriting discount: Up to 2.575% per security; dealers may receive a selling concession of 2.00% per security, and selected dealers may receive a fee of up to 0.30% per security for marketing and other services.
  • No interest payments: According to the filing, the securities do not bear interest.

Terms and Structure of the BofA Finance Auto-Callable S&P 500 Securities

BofA Finance LLC, a finance subsidiary of Bank of America Corporation, filed a term sheet pursuant to Rule 433 under Registration Statement Nos. 333-290665 and 333-290665-01. The filing describes Market Linked Securities linked to the S&P 500 Index with a maturity of approximately four years. The securities are fully and unconditionally guaranteed by Bank of America Corporation. BofA Securities, Inc., an affiliate of BofA Finance, is named as the calculation agent.

According to the filing, if the closing level of the S&P 500 Index on any call date is greater than or equal to the starting value, the securities will be automatically called for the principal amount plus the applicable call premium. If the securities are not called and the ending value is at least equal to the threshold value of 92.50% of the starting value, investors receive $1,000.00 per security. However, the filing states that if the ending value is less than the threshold value, investors "will receive less, and possibly 92.50% less, than the principal amount" of their securities on the maturity date. The filing also notes that "any positive return on the Securities will be limited to any applicable Call Premium, even if the closing level of the Underlying on the applicable Call Date significantly exceeds the Starting Value."

The filing identifies a number of risk considerations, including that "your investment may result in a loss," that payments are subject to the credit risk of BofA Finance as issuer and BAC as guarantor, and that "BofA Finance cannot assure you that a trading market for your Securities will ever develop or be maintained." The filing further states that the public offering price will exceed the initial estimated value of the securities. Wells Fargo Advisors, described as a trade name used by Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC, is noted as a distribution participant.

What Was Disclosed

BofA Finance LLC disclosed a term sheet for auto-callable, S&P 500-linked securities due November 14, 2030, with a 7.50% downside buffer, call premiums of at least 8.05% to 32.20%, and an initial estimated value between $915.00 and $965.00 per security.