Published on 1/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $1.34 million contingent income issuer callable yield notes on indexes, ETF
Chicago, Jan. 22 – BofA Finance LLC priced $1.34 million of contingent income issuer callable yield notes due Jan. 22, 2026 linked to the least performing of the Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 12.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting July 19, 2024 on any monthly call determination date.
If the worst performing asset gains or ends above its 60% threshold value the payout at maturity will be par plus any 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: | Nasdaq-100 index, Russell 2000 index and SPDR S&P Regional Banking ETF
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| Amount: | $1.34 million
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| Maturity: | Jan. 22, 2026
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| Coupon: | 12.5% annual rate, paid monthly, if each underlier 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 asset finishes at or above its 60% 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 July 19, 2024 on any monthly call determination date
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| Initial levels: | 16,830.71 for Nasdaq, 1,927.304 for Russell, $49.54 for banking ETF
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| Coupon barriers: | 11,781.50 for Nasdaq, 1,349.113 for Russell, $34.68 for banking ETF, 70% of initial levels
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| Downside thresholds: | 10,098.43 for Nasdaq, 1,156.382 for Russell, $29.72 for banking ETF, 60% of initial levels
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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: | 0.85%
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| Cusip: | 09710PJ23
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