Published on 3/10/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.03 million contingent income issuer callable yield notes on indexes, ETF
New York, March 10 – BofA Finance LLC priced $3.03 million of contingent income issuer callable yield notes due March 11, 2026 linked to the Dow Jones industrial average, Russell 2000 index and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting June 9 on any quarterly call determination date.
If the worst performing asset gains or ends above its 60% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing asset 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 assets: | Dow Jones industrial average, Russell 2000 index and Technology Select Sector SPDR Fund
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Amount: | $3,025,000
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Maturity: | March 11, 2026
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Coupon: | 14%, paid quarterly, if each underlier 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 asset finishes at or above its 60% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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Call: | Starting June 9 on any quarterly call determination date
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Initial levels: | 33,431.44 for Dow Jones Industrial Average, 1,899.757 for Russell 2000 Index, $140.81 for Technology Select Sector SPDR Fund
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Downside thresholds: | 20,058.86 for Dow Jones Industrial Average, 1,139.854 for Russell 2000 Index, $84.49 for Technology Select Sector SPDR Fund, 60% of initial level
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Coupon barriers: | 23,402.01 for Dow Jones Industrial Average, 1,329.830 for Russell 2000 Index, $98.57 for Technology Select Sector SPDR Fund, 70% of initial levels
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Pricing date: | March 6
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Settlement date: | March 9
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Agent: | BofA Securities
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Fees: | 0.4%
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Cusip: | 09709VKG0
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