Published on 12/4/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $831,000 11.15% contingent income issuer callable yield notes on indexes
By Kiku Steinfeld
Chicago, Dec. 4 – BofA Finance LLC priced $831,000 of contingent income issuer callable yield notes due April 25, 2028 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 11.15%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called on any quarterly 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $831,000
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| Maturity: | April 25, 2028
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| Coupon: | 11.15%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
|
| 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
|
| Call: | On any quarterly call date
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| Initial levels: | 12,985.98 for Nasdaq Index, 1,789.697 for Russell, 4,129.79 for S&P
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| Downside thresholds: | 7,791.59 for Nasdaq Index, 1,073.818 for Russell, 2,477.87 for S&P, 60% of initial level
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| Coupon barriers: | 9,090.19 for Nasdaq Index, 1,252.788 for Russell, 2,890.85 for S&P, 70% of initial levels
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| Pricing date: | April 20, 2023
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| Settlement date: | April 25, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09709VSJ6
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