Published on 6/4/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $438,000 contingent income autocallable yield notes on tech stocks
By Kiku Steinfeld
Chicago, June 5 – BofA Finance LLC priced $438,000 of contingent income autocallable yield notes due Jan. 29, 2026 linked to the worst performing of the common stocks of Amazon.com, Inc., Apple Inc., Alphabet Inc. and Microsoft Corp., according to a 424B2 with the Securities and Exchange Commission.
The notes will pay a contingent quarterly coupon at an annualized rate of 13.5% if each stock closes at or above its 50% coupon barrier on the related determination date.
The notes will be automatically redeemed at par if each stock closes above its initial value on any quarterly call observation date after six months.
The payout at maturity will be par plus the coupon if both stocks close above their 50% trigger values.
Otherwise, investors will be fully exposed to any losses of the worst performing stock.
The notes will be guaranteed by Bank of America Corp.
BofA Securities, Inc. is the selling 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 stocks: | Amazon.com, Inc., Apple Inc., Alphabet Inc. and Microsoft Corp.
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| Amount: | $438,000
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| Maturity: | Jan. 29, 2026
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| Coupon: | 13.5%, paid monthly, if each stock closes at or above its 50% coupon barrier on the related monthly observation date
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| Price: | Par
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| Payout at maturity: | Par plus the coupon if all stocks close above their trigger values; otherwise, investors will be fully exposed to the losses of the worst performing stock
|
| Call: | Automatically at par if each stock closes at or above its initial value on any quarterly call observation date after six months
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| Initial levels: | $99.16 for Alphabet, $99.22 for Amazon, $143.96 for Apple, $248 for Microsoft
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| Coupon barriers/triggers: | $49.58 for Alphabet, $49.61 for Amazon, $71.98 for Apple, $124 for Microsoft; 50% of initial levels
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| Pricing date: | Jan. 26, 2023
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| Settlement date: | Jan. 31, 2023
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| Agent: | BofA Securities, Inc.
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| Fees: | 3%
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| Cusip: | 09709VDJ2
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