Published on 4/23/2024 in the Prospect News Structured Products Daily.
New Issue: BofA prices $2.86 million contingent income buffered issuer callable yield notes
New York, April 23 – BofA Finance LLC priced $2.86 million of contingent income buffered issuer callable yield notes due April 22, 2027 linked to the Russell 2000 index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 10.25%, paid quarterly, if each underlying index closes at or above its 85% coupon barrier on the related quarterly observation date.
The securities may be called at par on any quarterly determination date starting on April 23, 2025.
If the worst performing index finishes at or above its 85% 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 index declines 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 buffered issuer callable yield notes
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| Underlying indexes: | Russell 2000 index and S&P 500 index
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| Amount: | $2,859,000
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| Maturity: | April 22, 2027
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| Coupon: | 10.25%, paid quarterly, if each underlying index closes at or above its 85% coupon barrier on the related quarterly observation date
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| Price: | Par
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| Payout at maturity: | If worst performing index finishes at or above its 85% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines below its threshold value
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| Call: | Starting on April 23, 2025 on any determination date
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| Initial levels: | 1,947.947 for Russell 2000, 5,022.21 for S&P 500
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| Downside thresholds: | 1,655.755 for Russell 2000, 4,268.88 for S&P 500, 85% of initial levels
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| Coupon barriers: | 1,655.755 for Russell 2000, 4,268.88 for S&P 500, 85% 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: | 0.6%
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| Cusip: | 09711BPJ9
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