Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.51 million 8.5% contingent income callable yield notes on indexes
New York, Jan. 2 – BofA Finance LLC priced $5.51 million of contingent income issuer callable yield notes due Dec. 31, 2026 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 8.5%, 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 starting July 1, 2024 on any quarterly call 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: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $5,508,000
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| Maturity: | Dec. 31, 2026
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| Coupon: | 8.5%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly 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; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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| Call: | Starting July 1, 2024 on any quarterly call date
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| Initial levels: | 16,878.46 for Nasdaq-100 Index, 2,059.194 for Russell 2000 Index, 4,774.75 for S&P 500 Index
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| Downside thresholds: | 11,814.92 for Nasdaq-100 Index, 1,441.436 for Russell 2000 Index, 3,342.33 for S&P 500 Index, 70% of initial level
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| Coupon barriers: | 11,814.92 for Nasdaq-100 Index, 1,441.436 for Russell 2000 Index, 3,342.33 for S&P 500 Index, 70% of initial levels
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| Pricing date: | Dec. 26
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| Settlement date: | Dec. 29
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.85%
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| Cusip: | 09710PGN0
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