Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.89 million contingent income issuer callable yield notes on indexes
Chicago, Jan. 22 – BofA Finance LLC priced $1.89 million of contingent income issuer callable yield notes due Jan. 19, 2029 linked to the least performing of the 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 8.3%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date. Previously unpaid coupons will also be paid.
The securities may be called at par starting Jan. 22, 2025 on any monthly call date.
If the worst performing asset 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 asset 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 assets: | Russell 2000 index and S&P 500 index
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Amount: | $1,894,000
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Maturity: | Jan. 19, 2029
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Coupon: | 8.3% annual rate, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date; previously unpaid coupons will also be paid
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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Call: | At par starting Jan. 22, 2025 on any monthly call date
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Initial levels: | 1,927.304 for Russell, 4,765.98 for S&P
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Coupon barriers: | 1,349.113 for Russell, 3,336.19 for S&P, 70% of initial levels
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Downside thresholds: | 1,349.113 for Russell, 3,336.19 for S&P, 70% of initial level
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Pricing date: | Jan. 16
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Settlement date: | Jan. 19
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09710PMU7
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