Published on 1/2/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $578,000 12% callable yield notes linked to Nasdaq, Russell, S&P
New York, Jan. 2 – BofA Finance LLC priced $578,000 of fixed income issuer callable yield notes due May 2, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12%, paid monthly.
Starting Oct. 30, 2023, the securities may be called on any monthly call date.
The payout at maturity will be par unless any index closes below its 70% threshold value during the life of the notes and any index finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performing index declines from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities, Inc. is the agent.
| Issuer: | BofA Finance LLC
|
| Guarantor: | Bank of America Corp.
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| Issue: | Fixed 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: | $578,000
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| Maturity: | May 2, 2024
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| Coupon: | 12%, paid monthly
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| Price: | Par
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| Payout at maturity: | Par unless any index closes below threshold value during life of notes and any index finishes below initial level, in which case 1% loss for every 1% that worst performing index declines from initial level
|
| Call: | Starting Oct. 30, 2023, on any monthly call date
|
| Initial levels: | 13,245.99 for Nasdaq, 1,768.987 for Russell, 4,169.48 for S&P
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| Downside thresholds: | 9,272.19 for Nasdaq, 1,238.291 for Russell, 2,918.64 for S&P, 70% of initial levels
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| Pricing date: | April 28, 2023
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| Settlement date: | May 3, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09709VRP3
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