Published on 1/28/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $727,000 8.75% contingent income issuer callable yield notes on indexes
By Kiku Steinfeld
Chicago, Jan. 29 – BofA Finance LLC priced $727,000 of contingent income issuer callable yield notes due June 12, 2026 linked to the Dow Jones industrial average, 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 8.75%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting Dec. 14, 2023 on any quarterly call 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
|
Guarantor: | Bank of America Corp.
|
Issue: | Contingent income issuer callable yield notes
|
Underlying indexes: | Dow Jones industrial average, Russell 2000 index and S&P 500 index
|
Amount: | $727,000
|
Maturity: | June 12, 2026
|
Coupon: | 8.75%, paid quarterly, if each underlying index closes at or above its 70% coupon barrier on the related quarterly 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 Dec. 14, 2023 on any quarterly call date
|
Initial levels: | 33,876.78 for Dow, 1,865.706 for Russell, 4,298.86 for S&P
|
Downside thresholds: | 23,713.75 for Dow, 1,305.994 for Russell, 3,009.20 for S&P, 70% of initial level
|
Coupon barriers: | 23,713.75 for Dow, 1,305.994 for Russell, 3,009.20 for S&P, 70% of initial levels
|
Pricing date: | June 9, 2023
|
Settlement date: | June 14, 2023
|
Agent: | BofA Securities, Inc.
|
Fees: | 1.75%
|
Cusip: | 09711A3Y2
|
|
© 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.