Published on 10/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $463,000 11% contingent income issuer callable yield notes on indexes
Chicago, Oct. 12 – BofA Finance LLC priced $463,000 of contingent income issuer callable yield notes due Oct. 3, 2025 linked to the least performing of the 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 11%, paid semiannually, if each underlying index closes at or above its 70% coupon barrier on the related semiannual observation date.
The securities may be called at par starting April 4, 2023 on any semiannual date.
If the worst performing index gains or ends above its 70% 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: | Russell 2000 index and S&P 500 index
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| Amount: | $463,000
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| Maturity: | Oct. 3, 2025
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| Coupon: | 11% annual rate, paid semiannually, if each underlying index closes at or above its 70% coupon barrier on the related semiannual observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 70% 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: | At par starting April 4, 2023 on any semiannual date
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| Initial levels: | 1,664.716 for Russell, 3,585.62 for S&P
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| Coupon barriers: | 1,165.301 for Russell, 2,509.93 for S&P, 70% of initial levels
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| Downside thresholds: | 1,165.301 for Russell, 2,509.93 for S&P, 70% of initial level
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| Pricing date: | Sept. 30, 2022
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| Settlement date: | Oct. 5, 2022
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.5%
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| Cusip: | 09709V4E3
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