Published on 2/22/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $883,000 10.75% contingent income callable yield notes linked to ETF, indexes
New York, Feb. 22 – BofA Finance LLC priced $883,000 of contingent income issuer callable yield notes due July 2, 2025 linked to the Energy Select Sector SPDR Fund, Nasdaq-100 index and Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.75%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting Jan. 2, 2024 on any monthly call date.
If the worst performing asset gains or ends above its 60% 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: | Energy Select Sector SPDR Fund, Nasdaq-100 index and Russell 2000 index
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| Amount: | $883,000
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| Maturity: | July 2, 2025
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| Coupon: | 10.75%, 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: | Starting Jan. 2, 2024 on any monthly call date
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| Initial levels: | $78.93 for fund, 14,945.91 for Nasdaq, 1,849.930 for Russell
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| Coupon barriers: | $55.25 for fund, 10,462.14 for Nasdaq, 1,294.951 for Russell, 70% of initial levels
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| Downside thresholds: | $47.36 for fund, 8,967.55 for Nasdaq, 1,109.958 for Russell, 60% of initial level
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| Pricing date: | June 27, 2023
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| Settlement date: | June 30, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.6%
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| Cusip: | 09709VYN0
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