Published on 3/16/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $4.3 million 16.5% contingent income autocallable yield notes on indexes, ETF
New York, March 16 – BofA Finance LLC priced $4.3 million of contingent income autocallable yield notes due June 13, 2024 linked to the Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 16.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities may be called automatically starting in September 2023 at par if the level of each underlier is greater than or equal to its initial price on any determination date.
If the worst performing asset 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 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 autocallable yield notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and VanEck Gold Miners ETF
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| Amount: | $4.3 million
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| Maturity: | June 13, 2024
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| Coupon: | 16.5%, paid monthly, if each underlier closes at or above its 65% 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 65% 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: | Automatically starting in September 2023 at par if the level of each underlier is greater than or equal to its initial price on any determination date
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| Initial levels: | 11,830.28 for Nasdaq-100 Index, 1,772.702 for Russell 2000 Index, $27.20 for VanEck Gold Miners ETF
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| Downside thresholds: | 7,689.68 for Nasdaq-100 Index, 1,152.256 for Russell 2000 Index, $17.68 for VanEck Gold Miners ETF, 65% of initial level
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| Coupon barriers: | 7,689.68 for Nasdaq-100 Index, 1,152.256 for Russell 2000 Index, $17.68 for VanEck Gold Miners ETF, 65% of initial levels
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| Pricing date: | March 10
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| Settlement date: | March 15
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| Agent: | BofA Securities
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| Fees: | 1%
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| Cusip: | 09709VLP9
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