Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.23 million contingent income issuer callable yield notes on indexes, ETF
New York, March 11 – BofA Finance LLC priced $1.23 million of contingent income issuer callable yield notes due Feb. 26, 2027 linked to the Nasdaq-100 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 10%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons.
The securities may be called at par on any quarterly call date starting Nov. 29, 2024.
If the worst performing asset finishes at or above its 65% 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
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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 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $1,227,000
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| Maturity: | Feb. 26, 2027
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| Coupon: | 10%, paid quarterly, if each underlier closes at or above its 75% coupon barrier on the related quarterly observation date, plus any previously unpaid coupons
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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; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any quarterly call date starting Nov. 29, 2024
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| Initial levels: | 17,937.61 for Nasdaq-100, 2,016.688 for Russell 2000, $61.96 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 11,659.45 for Nasdaq-100, 1,310.847 for Russell 2000, $40.27 for Utilities Select Sector SPDR Fund, 65% of initial levels
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| Coupon barriers: | 13,453.21 for Nasdaq-100, 1,512.516 for Russell 2000, $46.47 for Utilities Select Sector SPDR Fund, 75% of initial levels
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| Pricing date: | Feb. 23
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| Settlement date: | Feb. 28
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09710PVN3
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