Published on 5/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.19 million contingent income issuer callable yield notes on indexes, ETF
New York, May 12 – BofA Finance LLC priced $2.19 million of contingent income issuer callable yield notes due May 1, 2025 linked to the Nasdaq-100 index, the Russell 2000 index and the SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 13.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities may be called at par on any monthly call determination date starting Nov. 2, 2023.
If the worst performing asset finishes at or above its 55% threshold value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 issuer callable yield notes
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| Underlying assets: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $2,194,000
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| Maturity: | May 1, 2025
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| Coupon: | 13.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 55% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any monthly call determination date starting Nov. 2, 2023
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| Initial levels: | 13,245.99 for Nasdaq-100 Index, 1,768.987 for Russell 2000 Index, $42.66 for SPDR S&P Regional Banking ETF
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| Downside thresholds: | 7,285.29 for Nasdaq-100 Index, 972.943 for Russell 2000 Index, $23.46 for SPDR S&P Regional Banking ETF, 55% of initial level
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| Coupon barriers: | 8,609.89 for Nasdaq-100 Index, 1,149.842 for Russell 2000 Index, $27.73 for SPDR S&P Regional Banking ETF, 65% of initial levels
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| Pricing date: | April 28
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| Settlement date: | May 3
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| Agent: | BofA Securities
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| Fees: | 0.85%
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| Cusip: | 09709VSZ0
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