Published on 3/9/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5 million contingent income autocallable yield notes on two indexes, ETF
New York, March 9 – BofA Finance LLC priced $5 million of contingent income autocallable yield notes due June 6, 2024 linked to the Nasdaq-100 index, the Russell 2000 index and the VanEck Vectors Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 17.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date.
The securities may be called automatically at par if the closing level of each underlier is greater than or equal to 105% of its initial level on any monthly determination date starting in September 2023.
If the notes have not been called, the payout at maturity will be par unless any underlier closes below its 65% downside threshold during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities is the agent.
Issuer: | BofA Finance LLC
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Guarantor: | Bank of America Corp.
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Issue: | Contingent income autocallable yield notes
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Underlying assets: | Nasdaq-100 index, Russell 2000 index and VanEck Vectors Gold Miners ETF
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Amount: | $5 million
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Maturity: | June 6, 2024
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Coupon: | 17.5%, paid monthly, if each underlier closes at or above its 65% coupon barrier on the related monthly observation date
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Price: | Par
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Payout at maturity: | Par unless any underlier closes below its 65% downside threshold during the life of the notes and any underlier finishes below its initial level, in which case investors will lose 1% for every 1% that the worst performer declines from initial level
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Call: | Automatically at par if the closing level of each underlier is greater than or equal to 105% of its initial level on any monthly determination date starting in September 2023
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Initial levels: | 12,290.81 for Nasdaq-100 Index, 1,928.263 for Russell 2000 Index, $28.63 for VanEck Gold Miners ETF
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Downside thresholds: | 7,989.03 for Nasdaq-100 Index, 1,253.371 for Russell 2000 Index, $18.61 for VanEck Gold Miners ETF, 65% of initial level
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Coupon barriers: | 7,989.03 for Nasdaq-100 Index, 1,253.371 for Russell 2000 Index, $18.61 for VanEck Gold Miners ETF, 65% of initial levels
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Pricing date: | March 3
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Settlement date: | March 8
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Agent: | BofA Securities
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Fees: | 1%
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Cusip: | 09709VKH8
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