Published on 3/21/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.38 million contingent income issuer callable yield notes on indexes, fund
Chicago, March 21 – BofA Finance LLC priced $1.38 million of contingent income issuer callable yield notes due Sept. 4, 2026 linked to the least performing of 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 11.5%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called at par starting on Sept. 6, 2024 and on any subsequent monthly determination date.
If the worst performing asset 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 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
|
| 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: | $1,384,000
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| Maturity: | Sept. 4, 2026
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| Coupon: | 11.5% annual rate, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | If worst performing asset finishes at or above its 65% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
|
| Call: | At par starting on Sept. 6, 2024 and on any subsequent monthly determination date
|
| Initial levels: | 10,606.23 for tech index, 2,076.395 for Russell 2000, $210.76 for tech fund
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| Coupon barriers: | 7,954.67 for tech index, 1,557.296 for Russell 2000, $158.07 for tech fund, 75% of initial levels
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| Downside thresholds: | 6,894.05 for tech index, 1,349.657 for Russell 2000, $136.99 for tech fund, 65% of initial level
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| Pricing date: | March 1
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| Settlement date: | March 6
|
| Agent: | BofA Securities, Inc.
|
| Fees: | 0.25%
|
| Cusip: | 09711B4E3
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