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Published on 4/10/2024 in the Prospect News Structured Products Daily.

New Issue: BofA prices $3.23 million trigger callable contingent yield notes on EAFE, Russell, S&P

By Wendy Van Sickle

Columbus, Ohio, April 10 – BofA Finance LLC priced $3.23 million of trigger callable contingent yield notes due April 6, 2029 linked to the worst performing of the MSCI EAFE index, the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will pay a quarterly contingent coupon at an annual rate of 8.6% if each index closes at or above its coupon barrier level, 70% of its initial level for the corresponding observation date for that period.

The notes will be callable at par of $10 plus any coupon otherwise due on any quarterly observation date other than the final one.

If the notes are not called and each index finishes at or above its downside threshold level, 65% of its initial level, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% decline of the least-performing index from its initial level.

The notes are guaranteed by Bank of America Corp.

BofA Securities, Inc. is the underwriter and UBS Financial Services Inc. is the selling agent.

Issuer:BofA Finance LLC
Guarantor:Bank of America Corp.
Issue:Trigger callable contingent yield notes
Underlying indexes:MSCI EAFE index, Russell 2000 index, S&P 500 index
Amount:$3,225,000
Maturity:April 6, 2029
Coupon:8.6% per year, payable quarterly if each index closes at or above its coupon barrier level for corresponding observation date for that period
Price:Par of $10
Payout at maturity:Par unless any index finishes below downside threshold level, in which case 1% loss for every 1% decline of worst performing index from initial level
Call option:At par plus any coupon due on any quarterly observation date other than final one
Initial levels:2,053.828 for Russell, 5,147.21 for S&P, 2,345.86 for EAFE
Coupon barrier levels:1,437.68 for Russell, 3,603.05 for S&P, 1,642.10 for EAFE; 70% of initial levels
Knock-in levels:1,334.988 for Russell, 3,345.69 for S&P, 1,524.81 for EAFE; 65% of initial levels
Pricing date:April 4
Settlement date:April 8
Agents:UBS Financial Services Inc. and BofA Securities, Inc.
Fees:2%
Cusip:09710R151

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