Published on 12/11/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.27 million contingent income autocallable yield notes on three indexes
New York, Dec. 11 – BofA Finance LLC priced $1.27 million of contingent income autocallable yield notes due Dec. 3, 2026 linked to the Dow Jones industrial average, the Nasdaq-100 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if each index closes at or above its initial level on any monthly observation date starting Feb. 29, 2024.
If the worst performing index finishes at or above its 70% threshold value, the payout at maturity will be par plus the contingent coupon.
Otherwise, investors will lose 1% for every 1% that the worst performing index declines from initial level.
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 autocallable yield notes
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| Underlying indexes: | Dow Jones industrial average, Nasdaq-100 index and Russell 2000 index
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| Amount: | $1,267,000
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| Maturity: | Dec. 3, 2026
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| Coupon: | 10%, 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 70% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if each index closes at or above its initial level on any monthly observation date starting Feb. 29, 2024
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| Initial levels: | 35,950.89 for Dow Jones Industrial Average, 15,947.87 for Nasdaq-100 Index, 1,809.020 for Russell 2000 Index
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| Downside thresholds: | 25,165.62 for Dow Jones Industrial Average, 11,163.51 for Nasdaq-100 Index, 1,266.314 for Russell 2000 Index, 70% of initial levels
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| Coupon barriers: | 25,165.62 for Dow Jones Industrial Average, 11,163.51 for Nasdaq-100 Index, 1,266.314 for Russell 2000 Index, 70% of initial levels
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| Pricing date: | Nov. 30
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| Settlement date: | Dec. 4
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.2%
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| Cusip: | 09710PBZ8
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