Published on 3/28/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.46 million 11.5% contingent income callable yield notes on indexes
New York, March 28 – BofA Finance LLC priced $5.46 million of contingent income issuer callable yield notes due Feb. 26, 2026 linked to the Nasdaq-100 Technology Sector 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 11.5%, paid monthly, if each underlying index closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called starting on Dec. 27, 2024 and on any subsequent determination date.
If the worst performing index gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing index 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 indexes: | Nasdaq-100 Technology Sector index, Russell 2000 index and S&P 500 index
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| Amount: | $5,459,000
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| Maturity: | Feb. 26, 2026
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| Coupon: | 11.5%, paid monthly, if each underlying index 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 index finishes at or above its 70% threshold value, par; 1% loss for every 1% that worst performing index declines if it finishes below its threshold value
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| Call: | Starting on Dec. 27, 2024 and on any subsequent determination date
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| Initial levels: | 10,444.17 for Nasdaq-100 Technology Sector, 2,071.998 for Russell 2000, 5,234.18 for S&P 500
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| Downside thresholds: | 7,310.92 for Nasdaq-100 Technology Sector, 1,450.399 for Russell 2000, 3,663.93 for S&P 500, 70% of initial level
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| Coupon barriers: | 7,833.13 for Nasdaq-100 Technology Sector, 1,553.999 for Russell 2000, 3,925.64 for S&P 500, 75% of initial levels
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| Pricing date: | March 22
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| Settlement date: | March 27
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.775%
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| Cusip: | 09711BEB8
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