Published on 1/26/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.02 million 9.3% contingent income callable yield notes on indexes, fund
New York, Jan. 26 – BofA Finance LLC priced $3.02 million of contingent income issuer callable yield notes due Jan. 28, 2027 linked to the MSCI Emerging Markets index, Russell 2000 index and Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.3%, paid quarterly, if each underlier closes at or above its 65% coupon barrier on the related quarterly observation date.
The securities may be called starting July 26, 2024 on any quarterly call date.
If the worst performing asset gains or ends above its 65% 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: | MSCI Emerging Markets index, Russell 2000 index and Utilities Select Sector SPDR Fund
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Amount: | $3,015,000
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Maturity: | Jan. 28, 2027
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Coupon: | 9.3%, paid quarterly, if each underlier closes at or above its 65% coupon barrier on the related quarterly observation date
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Price: | Par
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Payout at maturity: | If worst performing asset finishes at or above its 65% 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: | Starting July 26, 2024 on any quarterly call date
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Initial levels: | 969.97 for MSCI Emerging Markets, 1,976.269 for Russell 2000, $60.78 for Utilities Select Sector SPDR Fund
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Downside thresholds: | 630.48 for MSCI Emerging Markets, 1,284.575 for Russell 2000, $39.51 for Utilities Select Sector SPDR Fund, 65% of initial level
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Coupon barriers: | 630.48 for MSCI Emerging Markets, 1,284.575 for Russell 2000, $39.51 for Utilities Select Sector SPDR Fund, 65% of initial levels
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Pricing date: | Jan. 23
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Settlement date: | Jan. 26
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Agent: | BofA Securities, Inc.
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Fees: | 1.75%
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Cusip: | 09710PPV2
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