Published on 2/22/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.14 million 10.38% contingent income callable yield notes on indexes
New York, Feb. 22 – BofA Finance LLC priced $5.14 million of contingent income issuer callable yield notes due Feb. 20, 2026 linked to the MSCI EAFE index, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.38%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting Aug. 18, 2023 on any quarterly call determination date.
If the worst performing index gains or ends above its 65% 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: | MSCI EAFE index, Nasdaq-100 index and Russell 2000 index
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| Amount: | $5.14 million
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| Maturity: | Feb. 20, 2026
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| Coupon: | 10.38%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 65% 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 Aug. 18, 2023 on any quarterly call determination date
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| Initial levels: | 2,089.14 for MSCI EAFE, 12,687.89 for Nasdaq-100, 1,960.969 for Russell 2000
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| Downside thresholds: | 1,357.94 for MSCI EAFE, 8,247.13 for Nasdaq-100, 1,274.630 for Russell 2000, 65% of initial level
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| Coupon barriers: | 1,462.4 for MSCI EAFE, 8,881.52 for Nasdaq-100, 1,372.678 for Russell 2000, 70% of initial levels
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| Pricing date: | Feb. 15
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| Settlement date: | Feb. 21
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| Agent: | BofA Securities
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| Fees: | 1.75%
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| Cusip: | 09709VHB5
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