Published on 4/28/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.27 million contingent income issuer callable yield notes on three indexes
New York, April 28 – BofA Finance LLC priced $1.27 million of contingent income issuer callable yield notes due April 26, 2028 linked to the Dow Jones industrial average, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.75%, 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 at par on any quarterly call determination date starting April 24, 2025.
If the worst performing index finishes at or above its 60% threshold value, the payout at maturity will be par.
Otherwise, 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 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: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $1,265,000
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| Maturity: | April 26, 2028
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| Coupon: | 8.75%, 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 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call option: | At par on any quarterly call determination date starting April 24, 2025
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| Initial levels: | 33,808.96 for Dow Jones Industrial Average, 1,791.506 for Russell 2000 Index, 4,133.52 for S&P 500 Index
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| Downside thresholds: | 20,285.38 for Dow Jones Industrial Average, 1,074.904 for Russell 2000 Index, 2,480.11 for S&P 500 Index, 60% of initial level
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| Coupon barriers: | 23,666.27 for Dow Jones Industrial Average, 1,254.054 for Russell 2000 Index, 2,893.46 for S&P 500 Index, 70% of initial levels
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| Pricing date: | April 21
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| Settlement date: | April 26
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| Agent: | BofA Securities
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| Fees: | 0.25%
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| Cusip: | 09709VSW7
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