Published on 6/20/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.36 million contingent income issuer callable yield notes on indexes, ETF
Chicago, June 20 – BofA Finance LLC priced $1.36 million of contingent income issuer callable yield notes due June 5, 2025 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 15%, 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 starting Dec. 5, 2023 on any monthly call date.
If the worst performing asset gains or ends above its 55% threshold value the payout at maturity will be par plus any contingent coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes below its threshold value.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. 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: | $1,355,000
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| Maturity: | June 5, 2025
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| Coupon: | 15% annual rate, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 55% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
|
| Call: | At par starting Dec. 5, 2023 on any monthly call date
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| Initial levels: | 14,254.09 for Nasdaq, 1,749.650 for Russell, $38.97 for banking ETF
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| Downside thresholds: | 7,839.75 for Nasdaq, 962.308 for Russell, $21.43 for banking ETF, 55% of initial levels
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| Coupon barriers: | 9,265.16 for Nasdaq, 1,137.273 for Russell, $25.33 for banking ETF, 65% of initial levels
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| Pricing date: | May 31
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| Settlement date: | June 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.85%
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| Cusip: | 09709VXF8
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