Published on 3/26/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $6.3 million 12.3% contingent income callable yield notes on indexes, ETF
New York, March 26 – BofA Finance LLC priced $6.3 million of contingent income issuer callable yield notes due Sept. 20, 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 12.3%, 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 on Sept. 19, 2024 and on any subsequent determination date.
If the worst performing asset gains or ends above its 65% 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: | $6,302,000
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Maturity: | Sept. 20, 2027
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Coupon: | 12.3%, 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 65% 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 on Sept. 19, 2024 and on any subsequent determination date
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Initial levels: | 10,146.99 for Nasdaq-100 Technology Sector, 2,039.322 for Russell 2000, $205.63 for Technology Select Sector SPDR Fund
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Downside thresholds: | 6,595.54 for Nasdaq-100 Technology Sector, 1,325.559 for Russell 2000, $133.66 for Technology Select Sector SPDR Fund, 65% of initial level
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Coupon barriers: | 7,610.24 for Nasdaq-100 Technology Sector, 1,529.492 for Russell 2000, $154.22 for Technology Select Sector SPDR Fund, 75% of initial levels
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Pricing date: | March 15
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Settlement date: | March 20
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711BAF3
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