Published on 3/25/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.37 million 14% contingent income callable yield notes on indexes, ETF
New York, March 25 – BofA Finance LLC priced $1.37 million of contingent income issuer callable yield notes due March 25, 2027 linked to the Nasdaq-100 Technology Sector index, SPDR S&P Regional Banking ETF and VanEck Gold Miners ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 14%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date.
The securities may be called starting on June 25 and on any subsequent determination date.
If the worst performing asset gains or ends above its 50% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing asset 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
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| Guarantor: | Bank of America Corp.
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| Issue: | Contingent income issuer callable yield notes
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| Underlying assets: | Nasdaq-100 Technology Sector index, SPDR S&P Regional Banking ETF and VanEck Gold Miners ETF
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| Amount: | $1.37 million
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| Maturity: | March 25, 2027
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| Coupon: | 14%, paid monthly, if each underlier closes at or above its 60% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 50% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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| Call: | Starting on June 25 and on any subsequent determination date
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| Initial levels: | 10,372.62 for Nasdaq-100 Technology Sector, $48.82 for SPDR S&P Regional Banking ETF, $30.26 for VanEck Gold Miners ETF
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| Downside thresholds: | 5,186.31 for Nasdaq-100 Technology Sector, $24.41 for SPDR S&P Regional Banking ETF, $15.13 for VanEck Gold Miners ETF, 50% of initial level
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| Coupon barriers: | 6,223.57 for Nasdaq-100 Technology Sector, $29.29 for SPDR S&P Regional Banking ETF, $18.16 for VanEck Gold Miners ETF, 60% of initial levels
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| Pricing date: | March 20
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| Settlement date: | March 25
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| Agent: | BofA Securities, Inc.
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| Fees: | 0.875%
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| Cusip: | 09711BCW4
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