Published on 3/11/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.64 million contingent income issuer callable yield notes on ETFs, index
New York, March 11 – BofA Finance LLC priced $1.64 million of contingent income issuer callable yield notes due June 4, 2027 linked to the MSCI Emerging Markets index, the SPDR S&P Bank ETF and the iShares Russell 2000 Value ETF, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.35%, paid quarterly, if each underlier closes at or above its 60% coupon barrier on the related quarterly observation date.
The securities may be called at par on any determination date starting on Sept. 4, 2024.
If the worst performing asset finishes at or above its 55% threshold value, the payout at maturity will be par. Otherwise, investors will lose 1% for every 1% that the worst performing asset declines from its initial level.
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: | MSCI Emerging Markets index, SPDR S&P Bank ETF and iShares Russell 2000 Value ETF
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| Amount: | $1,635,000
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| Maturity: | June 4, 2027
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| Coupon: | 9.35%, paid quarterly, if each underlier closes at or above its 60% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing asset finishes at or above its 55% threshold value, par; otherwise, 1% loss for every 1% that worst performing asset declines from initial level
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| Call option: | At par on any determination date starting on Sept. 4, 2024
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| Initial levels: | 1,020.94 for MSCI Emerging Markets, $44.42 for SPDR S&P Bank ETF, $153.00 for iShares Russell 2000 Value ETF
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| Downside thresholds: | 561.52 for MSCI Emerging Markets, $24.43 for SPDR S&P Bank ETF, $84.15 for iShares Russell 2000 Value ETF, 55% of initial levels
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| Coupon barriers: | 612.56 for MSCI Emerging Markets, $26.65 for SPDR S&P Bank ETF, $91.80 for iShares Russell 2000 Value ETF, 60% of initial levels
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| Pricing date: | Feb. 29
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| Settlement date: | March 5
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.75%
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| Cusip: | 09711B3U8
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