diff --git a/index.js b/index.js
index 8ddc89b..49abfb4 100644
--- a/index.js
+++ b/index.js
@@ -26,7 +26,11 @@ var UNSAFE_CHARS_REGEXP   = /[<>\/\u2028\u2029]/g;
 // stays in script data, so only these need neutralizing. The bare-prefix form
 // matters because the matching `>` could be supplied by a different
 // serialized value later in the output, so escaping stops there without
-// waiting for a closing `>`. A trailing backslash is not a delimiter here
+// waiting for a closing `>`. For the same reason the bare form also matches
+// at the very end of the string: each function body is escaped on its own, so
+// a body ending in `</script` can't see the delimiter (e.g. the newline added
+// by the `space` option) that the surrounding output supplies next
+// (PSECBUGS-118415). A trailing backslash is not a delimiter here
 // (that's a JS-level concern, not an HTML one), so this doesn't affect tagged
 // template literals like `String.raw`.
 //
@@ -38,7 +42,7 @@ var UNSAFE_CHARS_REGEXP   = /[<>\/\u2028\u2029]/g;
 // longer contain a second `<`, every `</script` in the source is either the
 // start of its own match or is followed by a non-delimiter — and the latter
 // the tokenizer never treats as an end tag.
-var SCRIPT_CLOSE_REGEXP = /<\/script[^<>]*>|<\/script(?=[\t\n\f\r \/>])/gi;
+var SCRIPT_CLOSE_REGEXP = /<\/script[^<>]*>|<\/script(?=$|[\t\n\f\r \/>])/gi;
 
 var RESERVED_SYMBOLS = ['*', 'async'];
 
diff --git a/test/unit/serialize.js b/test/unit/serialize.js
index 3d4de00..8949260 100644
--- a/test/unit/serialize.js
+++ b/test/unit/serialize.js
@@ -664,6 +664,30 @@ describe('serialize( obj )', function () {
             strictEqual(serialized.includes('\\u003C\\u002Fscript\\u003E'), true);
         });
 
+        it('should escape a script close tag at the very end of a function body (PSECBUGS-118415)', function () {
+            // Each body is escaped on its own, so one ending in a bare
+            // `</script` can't see the newline the `space` option emits right
+            // after it, and a later value can then supply the closing `>`.
+            var f = function () {};
+            f.toString = function () { return 'function f(){ return 1 }//</script'; };
+            var g = function () {};
+            g.toString = function () { return 'function g(x){ return x } > <img src=x onerror=alert(1)>'; };
+            var serialized = serialize({ a: { f: f }, g: g }, { space: 2 });
+
+            strictEqual(CLOSES_SCRIPT.test(serialized), false);
+            // Inside the line comment, so it unicode-escapes.
+            strictEqual(serialized.includes('//\\u003C\\u002Fscript\n'), true);
+        });
+
+        it('should neutralize a script close tag ending a function body in code position', function () {
+            var fn = function () {};
+            fn.toString = function () { return 'function f(x){ return x }</script'; };
+            var serialized = serialize([fn], { space: 2 });
+
+            strictEqual(CLOSES_SCRIPT.test(serialized), false);
+            strictEqual(serialized.includes('}< /script\n'), true);
+        });
+
         it('should escape every script close tag when several appear in one function', function () {
             var src = "function f(x){ return x</script=+/ + '</script>' + '</script>' + '</script >' }";
             var fn = new Function('return ' + src)();