Published on 6/29/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $817,000 9.5% contingent income callable yield notes on three indexes
By Kiku Steinfeld
Chicago, June 29 – BofA Finance LLC priced $817,000 of contingent income issuer callable yield notes due Feb. 6, 2025 linked to the Nasdaq-100 index, Russell 2000 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier level on the related quarterly observation date.
The securities may be called starting Aug. 8, 2023 at par on any quarterly call date.
If the worst performing index gains or ends above its 60% threshold level, the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index declines if it finishes below its threshold level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income issuer callable yield notes
|
Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
|
Amount: | $817,000
|
Maturity: | Feb. 6, 2025
|
Coupon: | 9.5%, paid quarterly, if each underlying index closes at or above its coupon barrier level on the related quarterly observation date
|
Price: | Par
|
Payout at maturity: | If worst performing index finishes at or above its threshold level, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold level
|
Call: | Starting Aug. 8, 2023 at par on any quarterly call date
|
Initial levels: | 12,573.36 for Nasdaq, 1,985.534 for Russell, 4,136.48 for S&P
|
Downside threshold levels: | 7,544.02 for Nasdaq, 1,191.320 for Russell, 2,481.89 for S&P, 60% of initial levels
|
Coupon barrier levels: | 8,801.35 for Nasdaq, 1,389.874 for Russell, 2,895.54 for S&P, 70% of initial levels
|
Pricing date: | Feb. 3, 2023
|
Settlement date: | Feb. 8, 2023
|
Agent: | BofA Securities, Inc.
|
Fees: | 0.5%
|
Cusip: | 09709VGB6
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.