Published on 4/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.74 million 9% callable contingent income securities on indexes
New York, April 12 – BofA Finance LLC priced $6.74 million of callable contingent income securities due April 10, 2025 linked to S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called starting July 11 at par on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index finishes below its 65% downside threshold, in which case investors will be fully exposed to the decline of that index.
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: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $6,735,000
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| Maturity: | April 10, 2025
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| Coupon: | 9%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index finishes below its downside threshold level, in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Starting July 11 at par on any quarterly call determination date
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| Initial levels: | 1,754.464, for Russell 2000, 4,105.02, for S&P 500, 4,309.45 for Euro Stoxx
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| Downside threshold: | 1,140.402 for Russell 2000, 2,668.26 for S&P 500, 2,801.14 for Euro Stoxx, 65% of initial levels
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| Coupon barriers: | 1,140.402 for Russell 2000, 2,668.26 for S&P 500, 2,801.14 for Euro Stoxx, 65% of initial levels
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| Pricing date: | April 6
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| Settlement date: | April 13
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| Agent: | BofA Securities, Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 09709VR24
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