Published on 5/11/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.2 million contingent income autocallable yield notes on three indexes
New York, May 11 – BofA Finance LLC priced $1.2 million of contingent income autocallable yield notes due May 10, 2027 linked to the Nasdaq-100 index, 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 11%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called automatically at par if each index closes at or above its initial level on any quarterly call determination date.
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 its 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 autocallable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $1.2 million
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| Maturity: | May 10, 2027
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| Coupon: | 11%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly 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: | Automatically at par if each index closes at or above its initial level on any quarterly call determination date
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| Initial levels: | 13,259.13 for Nasdaq-100 Index, 1,759.879 for Russell 2000 Index, 4,136.25 for S&P 500 Index
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| Downside thresholds: | 7,955.48 for Nasdaq-100 Index, 1,055.927 for Russell 2000 Index, 2,481.75 for S&P 500 Index, 60% of initial level
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| Coupon barriers: | 9,281.39 for Nasdaq-100 Index, 1,231.915 for Russell 2000 Index, 2,895.38 for S&P 500 Index, 70% 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: | 0.25%
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| Cusip: | 09709VWL6
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