Published on 2/1/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.26 million contingent income issuer callable yield notes on indexes, ETF
New York, Feb. 1 – BofA Finance LLC priced $3.26 million of contingent income issuer callable yield notes due July 22, 2026 linked to the Nasdaq-100 Technology Sector index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.5%, 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 on any quarterly call date.
If the worst performing asset finishes at or above its 60% threshold value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from 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.
|
| Issue: | Contingent income issuer callable yield notes
|
| Underlying assets: | Nasdaq-100 Technology Sector index, Russell 2000 index and Utilities Select Sector SPDR Fund
|
| Amount: | $3,262,000
|
| Maturity: | July 22, 2026
|
| Coupon: | 11.5%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above its 60% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
|
| Call option: | At par on any quarterly call date
|
| Initial levels: | 9,485.01 for Nasdaq-100 Technology Sector, 1,913.166 for Russell 2000, $61.72 for Utilities Select Sector SPDR Fund
|
| Downside thresholds: | 5,691.01 for Nasdaq-100 Technology Sector, 1,147.900 for Russell 2000, $37.03 for Utilities Select Sector SPDR Fund, 60% of initial levels
|
| Coupon barriers: | 6,639.51 for Nasdaq-100 Technology Sector, 1,339.216 for Russell 2000, $43.20 for Utilities Select Sector SPDR Fund, 70% of initial levels
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 22
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.5%
|
| Cusip: | 09710PN36
|
|
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
