Published on 1/5/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.6 million contingent income callable securities on three indexes
By Wendy Van Sickle
Columbus, Ohio, Jan. 5 – BofA Finance LLC priced $1.6 million of contingent income callable yield notes due Nov. 23, 2027 linked to the S&P 500 index, the Russell 2000 index and the Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 7.8%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the observation date.
The securities may be called at par on any monthly call valuation date after two years.
If the worst performing index gains or ends above its 75% downside threshold the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income callable yield notes
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $1,597,000
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| Maturity: | Nov. 23, 2027
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| Coupon: | 7.8%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing index finishes at or above its downside threshold level, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
|
| Call option: | At par on any monthly call valuation date after two years
|
| Initial levels: | 1,849.732 for Russell, 11,677.02 for Nasdaq, 3,965.34 for S&P
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| Downside thresholds: | 1,387.299 for Russell, 8,757.77 for Nasdaq, 2,974.01 for S&P, 75% of initial levels
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| Coupon barriers: | 1,387.299 for Russell, 8,757.77 for Nasdaq, 2,974.01 for S&P, 75% of initial levels
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| Pricing date: | Nov. 23
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| Settlement date: | Nov. 18
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.5%
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| Cusip: | 09709VAJ5
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