Published on 12/4/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.78 million 8.1% contingent income autocallable yield notes on ETFs
New York, Dec. 4 – BofA Finance LLC priced $1.78 million of contingent income autocallable yield notes due March 5, 2025 linked to the Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 8.1%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date.
The securities may be called automatically at par if the level of each underlier is greater than or equal to its initial price and on any subsequent determination date.
If none of the assets closes below the 75% threshold value during the life of the notes the payout at maturity will be par plus the contingent coupon. Otherwise investors will lose 1% for every 1% that the worst performing asset declines.
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 yield notes
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| Underlying assets: | Invesco QQQ Trust, Series 1 and SPDR S&P 500 ETF Trust
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| Amount: | $1,778,000
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| Maturity: | March 5, 2025
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| Coupon: | 8.1%, paid monthly, if each underlier closes at or above its 75% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | If none of the assets close below the 75% threshold value during the life of the notes, par; otherwise 1% loss for every 1% that worst performing asset declines
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| Call: | Automatically at par if the level of each underlier is greater than or equal to its initial price and on any subsequent determination date
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| Initial levels: | $390.19 for Invesco QQQ Trust, Series 1, $454.93 for SPDR S&P 500 ETF Trust
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| Downside thresholds: | $292.64 for Invesco QQQ Trust, Series 1, $341.20 for SPDR S&P 500 ETF Trust, 75% of initial level
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| Coupon barriers: | $292.64 for Invesco QQQ Trust, Series 1, $341.20 for SPDR S&P 500 ETF Trust, 75% of initial levels
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| Pricing date: | Nov. 28
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| Settlement date: | Dec. 1
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| Agent: | BofA Securities, Inc.
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| Fees: | 1.5%
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| Cusip: | 09710P6Q4
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