Published on 2/16/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.84 million contingent income callable yield notes on indexes, fund
New York, Feb. 16 – BofA Finance LLC priced $1.84 million of contingent income issuer callable yield notes due Feb. 12, 2027 linked to the Nasdaq-100 Technology Sector index, Russell 2000 index and Technology Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.6%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting Aug. 14, 2024 on any monthly call determination 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: | Nasdaq-100 Technology Sector index, Russell 2000 index and Technology Select Sector SPDR Fund
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| Amount: | $1,844,000
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| Maturity: | Feb. 12, 2027
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| Coupon: | 11.6%, paid monthly, if each underlier closes at or above its 75% 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 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: | Starting Aug. 14, 2024 on any monthly call determination date
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| Initial levels: | 10,435.12 for Nasdaq-100 Technology Sector, 2,009.992 for Russell 2000, $207.84 for Technology Select Sector SPDR Fund
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| Downside thresholds: | 7,304.58 for Nasdaq-100 Technology Sector, 1,406.994 for Russell 2000, $145.49 for Technology Select Sector SPDR Fund, 70% of initial level
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| Coupon barriers: | 7,826.34 for Nasdaq-100 Technology Sector, 1,507.494 for Russell 2000, $155.88 for Technology Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | Feb. 9
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| Settlement date: | Feb. 14
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09710PUR5
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