Published on 3/20/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $65,000 9% fixed income issuer callable yield notes on indexes
Chicago, March 20 – BofA Finance LLC priced $65,000 of fixed income issuer callable yield notes due March 5, 2025 linked to the least performing of the Nasdaq-100 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 9%, paid monthly.
The securities may be called at par starting Sept. 4, 2024 on any monthly call determination date.
If the worst performing index gains or no index closes below the 70% knock-in level during the life of the notes, investors will receive par. Otherwise, investors will lose 1% for every 1% that the worst performing index declines if it finishes below its knock-in 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: | Fixed income issuer callable yield notes
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| Underlying indexes: | Nasdaq-100 index, Russell 2000 index and S&P 500 index
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| Amount: | $65,000
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| Maturity: | March 5, 2025
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| Coupon: | 9% annual rate, paid monthly
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| Price: | Par
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| Payout at maturity: | Par if indexes finish above initial levels or no index closes below knock-in level during life of notes; otherwise, 1% loss for every 1% that worst performing index declines if it finishes below its knock-in value
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| Call: | At par starting Sept. 4, 2024 on any monthly call determination date
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| Initial levels: | 18,043.85 for Nasdaq, 2,054.843 for Russell, 5,096.27 for S&P
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| Knock-in levels: | 12,630.70 for Nasdaq, 1,438.390 for Russell, 3,567.39 for S&P, 70% of initial levels
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| Pricing date: | Feb. 29
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| Settlement date: | March 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.25%
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| Cusip: | 09710PUK0
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