Published on 3/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $11.29 million 15.3% callable contingent income securities on indexes
New York, March 28 – BofA Finance LLC priced $11.29 million of callable contingent income securities due March 25, 2025 linked to S&P 500 index, Russell 2000 index and Nasdaq-100 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called starting June 23 at par on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 75% downside threshold in which case investors will be fully exposed to the decline of that index.
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: | Callable contingent income securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Nasdaq-100 index
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| Amount: | $11,294,000
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| Maturity: | March 25, 2025
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| Coupon: | 15.3%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing underlying index
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| Call: | Starting June 23 at par on any quarterly call determination date
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| Initial levels: | 12,562.61 for Nasdaq, 1,744.99 for Russell, 3,951.5 for S&P
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| Downside threshold: | 9,421.96 for Nasdaq, 1,308.743 for Russell, 2,963.68 for S&P, 75% of initial levels
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| Coupon barriers: | 9,421.96 for Nasdaq, 1,308.743 for Russell, 2,963.68 for S&P, 75% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 23
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| Agent: | BofA Securities, Inc.
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| Fees: | 2% including a structuring fee of 0.5%
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| Cusip: | 09709VMU7
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