Published on 2/24/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.32 million 11.85% contingent income issuer callable yield notes on indexes
By Kiku Steinfeld
Chicago, Feb. 24 – BofA Finance LLC priced $1.32 million of contingent income issuer callable yield notes due Nov. 23, 2026 linked to the Euro Stoxx 50 index and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.85%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called starting Nov. 24, 2023 at par on any monthly call 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 is the agent.
Issuer: | BofA Finance LLC
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income issuer callable yield notes
|
Underlying indexes: | Euro Stoxx 50 index and S&P 500 index
|
Amount: | $1,324,000
|
Maturity: | Nov. 23, 2026
|
Coupon: | 11.85%, paid monthly, if each underlying index closes at or above its 70% coupon barrier on the related monthly observation date
|
Price: | Par
|
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
|
Call: | Starting Nov. 24, 2023 at par on any monthly call determination date
|
Initial levels: | 3,924.84 for Euro Stoxx, 3,965.34 for S&P
|
Downside thresholds: | 2,747.39 for Euro Stoxx, 2,775.74 for S&P, 70% of initial level
|
Coupon barriers: | 2,747.39 for Euro Stoxx, 2,775.74 for S&P, 70% of initial levels
|
Pricing date: | Nov. 18, 2022
|
Settlement date: | Nov. 23, 2022
|
Agent: | BofA Securities
|
Fees: | 0.25%
|
Cusip: | 09709VAH9
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.