Published on 2/15/2024 in the Prospect News Structured Products Daily.
New Issue: BofA sells $981,000 7.75% contingent income issuer callable yield notes on indexes
Chicago, Feb. 15 – BofA Finance LLC priced $981,000 of contingent income issuer callable yield notes due July 10, 2025 linked to the least performing of the Nasdaq-100 Technology Sector index, 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 7.75%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par starting April 9 on any monthly call date.
If the worst performing index gains or ends above its 65% threshold value the payout at maturity will be par plus any contingent coupon. Investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and S&P 500 index
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| Amount: | $981,000
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| Maturity: | July 10, 2025
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| Coupon: | 7.75% annual rate, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 65% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
|
| Call: | At par starting April 9 on any monthly call date
|
| Initial levels: | 9,098.91 for tech, 1,957.727 for Russell, 4,688.68 for S&P
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| Coupon barriers: | 6,369.24 for tech, 1,370.409 for Russell, 3,282.08 for S&P, 70% of initial levels
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| Downside thresholds: | 5,914.29 for tech, 1,272.523 for Russell, 3,047.64 for S&P, 65% of initial level
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| Pricing date: | Jan. 4
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| Settlement date: | Jan. 9
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.375%
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| Cusip: | 09710PKW5
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