Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.92 million contingent income issuer callable yield notes on three indexes
New York, May 11 – BofA Finance LLC priced $1.92 million of contingent income issuer callable yield notes due May 8, 2026 linked to the Dow Jones industrial average, the MSCI Emerging Markets index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if each underlying index closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly call determination date starting Nov. 9, 2023.
If the worst performing index finishes at or above its 65% threshold value, the payout at maturity will be par plus the contingent coupon. 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, MSCI Emerging Markets index and Russell 2000 index
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| Amount: | $1,923,000
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| Maturity: | May 8, 2026
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| Coupon: | 10.25%, paid quarterly, if each underlying index closes at or above its 65% 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 65% 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 Nov. 9, 2023
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| Initial levels: | 33,674.38 for Dow Jones Industrial Average, 981.66 for MSCI Emerging Markets Index, 1,759.879 for Russell 2000 Index
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| Downside thresholds: | 21,888.35 for Dow Jones Industrial Average, 638.08 for MSCI Emerging Markets Index, 1,143.921 for Russell 2000 Index, 65% of initial level
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| Coupon barriers: | 21,888.35 for Dow Jones Industrial Average, 638.08 for MSCI Emerging Markets Index, 1,143.921 for Russell 2000 Index, 65% of initial levels
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| Pricing date: | May 5
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| Settlement date: | May 10
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| Agent: | BofA Securities
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| Fees: | 1.75%
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| Cusip: | 09709VW69
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