Published on 4/21/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.53 million 8.6% contingent income autocalls on three indexes
New York, April 21 – BofA Finance LLC priced $3.53 million of contingent income autocallable securities due April 3, 2025 linked to the S&P 500 index, Russell 2000 index and Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.6%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities will be called automatically starting June 30 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date.
At maturity the payout will be par unless the worst performing index closes below its 70% downside threshold level in which case investors will be fully exposed to the decline of the worst performing index.
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 autocallable securities
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| Underlying indexes: | S&P 500 index, Russell 2000 index and Euro Stoxx 50 index
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| Amount: | $3.53 million
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| Maturity: | April 3, 2025
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| Coupon: | 8.6%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | Par unless the worst performing index closes below its downside threshold level in which case investors will be fully exposed to the decline in the worst performing index
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| Call: | Automatically starting June 30 at par if the level of each underlying index is greater than or equal to its initial level on any quarterly call determination date
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| Initial levels: | 4,315.05, for Stoxx, 1,802.484, for Russell, 4,109.31 for S&P
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| Downside thresholds: | 3,020.54 for | Stoxx, 1,261.739 for Russell, 2,876.52 for S&P, 70% of initial level
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| Coupon barriers: | 3,020.54 for | Stoxx, 1,261.739 for Russell, 2,876.52 for S&P, 70% of initial levels
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| Pricing date: | March 31
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| Settlement date: | April 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 2.0002% including a structuring fee of 0.5002%
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| Cusip: | 09709VP91
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