Published on 4/24/2023 in the Prospect News Structured Products Daily.
New Issue: BofA sells $93.39 million 11.01% fixed income autocallable yield notes on three indexes
By Wendy Van Sickle
Columbus, Ohio, April 24 – BofA Finance LLC priced $93.39 million of 11.01% fixed income autocallable yield notes due April 24, 2024 linked to the worst performing of the Russell 2000 index, the Nasdaq-100 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The notes will be called at par if each index closes above its initial level on any monthly determination date after six months.
If the notes have not been called, the payout at maturity will be par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% that the worst performing index declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
|
| Issue: | Fixed income autocallable yield notes
|
| Underlying assets: | Russell 2000 index, S&P 500 index, Nasdaq-100 index
|
| Amount: | $93,387,000
|
| Maturity: | April 24, 2024
|
| Coupon: | 11.01% annualized, payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par unless any index finishes below its 70% downside threshold, in which case investors will lose 1% for every 1% that the worst performing index declines from initial level
|
| Call: | At par if each index closes above its initial level on any monthly determination date after six months
|
| Initial levels: | 4,154.52 for S&P, 1,799.442 for Russell, 13,088.71 for Nasdaq
|
| Downside thresholds: | 2,908.16 for S&P, 1,259.609 for Russell, 9,162.1 for Nasdaq; 70% of initial levels
|
| Pricing date: | April 19
|
| Settlement date: | April 24
|
| Selling agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09709VMX1
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
