Published on 1/10/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $4 million 9% contingent income buffered callable yield notes on indexes, fund
New York, Jan. 10 – BofA Finance LLC priced $4 million of contingent income buffered issuer callable yield notes due Jan. 8, 2026 linked to the Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting April 9 on any monthly call date.
If the worst performing asset gains or ends above its 80% threshold value the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income buffered issuer callable yield notes
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Underlying assets: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $4 million
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Maturity: | Jan. 8, 2026
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Coupon: | 9%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 80% threshold value, par; otherwise 1% loss for every 1% that worst performing asset declines below its threshold value
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Call: | Starting April 9 on any monthly call date
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Initial levels: | 16,282.01 for Nasdaq-100 Index, 1,957.727 for Russell 2000 Index, $64.29 for Utilities Select Sector SPDR Fund
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Downside thresholds: | 13,025.61 for Nasdaq-100 Index, 1,566.182 for Russell 2000 Index, $51.43 for Utilities Select Sector SPDR Fund, 80% of initial level
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Coupon barriers: | 11,397.41 for Nasdaq-100 Index, 1,370.409 for Russell 2000 Index, $45.00 for Utilities Select Sector SPDR Fund, 70% of initial levels
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Pricing date: | Jan. 4
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Settlement date: | Jan. 9
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Agent: | BofA Securities, Inc.
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Fees: | 0.55%
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Cusip: | 09710PGD2
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