Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.18 million 8.2% contingent income callable yield notes on indexes
New York, April 24 – BofA Finance LLC priced $1.18 million of contingent income issuer callable yield notes due April 23, 2026 linked to the Dow Jones industrial average, Nasdaq-100 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.2%, paid semiannually, if each underlying index closes at or above its 50% coupon barrier on the related semiannual observation date.
The securities may be called starting Oct. 24, 2023 on any semiannual determination date.
If the worst performing index gains or ends above its 50% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income issuer callable yield notes
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Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and S&P 500 index
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Amount: | $1.18 million
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Maturity: | April 23, 2026
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Coupon: | 8.2%, paid semiannually, if each underlying index closes at or above its 50% coupon barrier on the related semiannual observation date
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Price: | Par
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Payout at maturity: | If worst performing index finishes at or above its 50% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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Call: | Starting Oct. 24, 2023 on any semiannual determination date
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Initial levels: | 33,897.01 for Dow Jones Industrial Average, 13,088.71 for Nasdaq-100 Index, 4,154.52 for S&P 500 Index
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Downside thresholds: | 16,948.51 for Dow Jones Industrial Average, 6,544.36 for Nasdaq-100 Index, 2,077.26 for S&P 500 Index, 50% of initial level
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Coupon barriers: | 16,948.51 for Dow Jones Industrial Average, 6,544.36 for Nasdaq-100 Index, 2,077.26 for S&P 500 Index, 50% of initial levels
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Pricing date: | April 19
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Settlement date: | April 24
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Agent: | BofA Securities
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Fees: | 0%
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Cusip: | 09709VSB3
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