Published on 12/12/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.6 million contingent income autocallable yield notes on indexes, ETF
New York, Dec. 12 – BofA Finance LLC priced $2.6 million of contingent income autocallable yield notes due Sept. 8, 2028 linked to the Euro Stoxx 50 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.23%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date.
The securities will be called automatically at par if the closing level of each underlier is greater than or equal to 95% of its initial level on any quarterly call determination date starting in June 2024.
If the worst performing asset finishes at or above its 50% threshold value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset 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 assets: | Euro Stoxx 50 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $2,597,000
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| Maturity: | Sept. 8, 2028
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| Coupon: | 8.23%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 50% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call: | Automatically at par if the closing level of each underlier is greater than or equal to 95% of its initial level on any quarterly call determination date starting in June 2024
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| Initial levels: | 4,452.77 for EURO STOXX 50 Index, 1,856.040 for Russell 2000 Index, $62.83 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 2,226.39 for EURO STOXX 50 Index, 928.020 for Russell 2000 Index, $31.42 for Utilities Select Sector SPDR Fund, 50% of initial levels
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| Coupon barriers: | 2,671.66 for EURO STOXX 50 Index, 1,113.624 for Russell 2000 Index, $37.70 for Utilities Select Sector SPDR Fund, 60% of initial levels
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| Pricing date: | Dec. 5
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| Settlement date: | Dec. 8
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.8%
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| Cusip: | 09710PDK9
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