Published on 4/17/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.75 million contingent income issuer callable yield notes on indexes, ETF
New York, April 17 – BofA Finance LLC priced $6.75 million of contingent income issuer callable yield notes due Oct. 1, 2026 linked to the Financial Select Sector SPDR Fund, the Nasdaq-100 Technology Sector index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.125%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly determination date starting on April 2, 2025.
If the worst performing asset finishes at or above its 60% 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 from initial level.
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 issuer callable yield notes
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| Underlying assets: | Financial Select Sector SPDR Fund, Nasdaq-100 Technology Sector index and S&P 500 index
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| Amount: | $6.75 million
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| Maturity: | Oct. 1, 2026
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| Coupon: | 9.125%, paid monthly, if each underlier closes at or above its 60% 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 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly determination date starting on April 2, 2025
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| Initial levels: | $42.12 for Financial Select Sector SPDR Fund, 10,420.33 for Nasdaq-100 Technology Sector, 5,254.35 for S&P 500
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| Downside thresholds: | $25.27 for Financial Select Sector SPDR Fund, 6,252.20 for Nasdaq-100 Technology Sector, 3,152.61 for S&P 500, 60% of initial levels
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| Coupon barriers: | $25.27 for Financial Select Sector SPDR Fund, 6,252.20 for Nasdaq-100 Technology Sector, 3,152.61 for S&P 500, 60% of initial levels
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| Pricing date: | March 28
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| Settlement date: | April 3
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.4%
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| Cusip: | 09711BBT2
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