Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $3.96 million contingent income issuer callable yield notes on indexes, ETF
New York, April 23 – BofA Finance LLC priced $3.96 million of contingent income issuer callable yield notes due April 22, 2026 linked to the Nasdaq-100 index, the Russell 2000 index and the Utilities Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11%, paid monthly, if each underlier closes at or above its 70% coupon barrier on the related monthly observation date.
The securities may be called at par on any quarterly determination date starting on Oct. 22, 2024.
If the worst performing asset finishes at or above its 70% threshold value, 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 from 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: | Nasdaq-100 index, Russell 2000 index and Utilities Select Sector SPDR Fund
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| Amount: | $3,955,000
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| Maturity: | April 22, 2026
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| Coupon: | 11%, paid monthly, if each underlier closes at or above its 70% 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 70% 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 quarterly determination date starting on Oct. 22, 2024
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| Initial levels: | 17,493.62 for Nasdaq-100, 1,947.947 for Russell 2000, $64.08 for Utilities Select Sector SPDR Fund
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| Downside thresholds: | 12,245.53 for Nasdaq-100, 1,363.563 for Russell 2000, $44.86 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Coupon barriers: | 12,245.53 for Nasdaq-100, 1,363.563 for Russell 2000, $44.86 for Utilities Select Sector SPDR Fund, 70% of initial levels
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| Pricing date: | April 17
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| Settlement date: | April 22
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| Agent: | BofA Securities, Inc.
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| Fees: | 1%
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| Cusip: | 09711BN77
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