Published on 10/6/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.89 million 9.65% contingent income callable yield notes on indexes
New York, Oct. 6 – BofA Finance LLC priced $2.89 million of contingent income issuer callable yield notes due Oct. 6, 2028 linked to the Dow Jones industrial average, 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 9.65%, 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 starting Jan. 8, 2024 on any monthly call date.
If the worst performing index gains or ends above its 60% threshold value 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 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 indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
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| Amount: | $2,891,000
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| Maturity: | Oct. 6, 2028
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| Coupon: | 9.65%, 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; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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| Call: | Starting Jan. 8, 2024 on any monthly call date
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| Initial levels: | 33,002.38 for Dow Jones Industrial Average, 1,727.153 for Russell 2000 Index, 4,229.45 for S&P 500 Index
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| Downside thresholds: | 19,801.43 for Dow Jones Industrial Average, 1,036.292 for Russell 2000 Index, 2,537.67 for S&P 500 Index, 60% of initial level
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| Coupon barriers: | 23,101.67 for Dow Jones Industrial Average, 1,209.007 for Russell 2000 Index, 2,960.62 for S&P 500 Index, 70% of initial levels
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| Pricing date: | Oct. 3
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| Settlement date: | Oct. 6
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.6%
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| Cusip: | 09711ARU4
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