Published on 9/27/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $5.69 million 11.45% contingent income issuer callable yield notes on indexes, ETF
New York, Sept. 27 – BofA Finance LLC priced $5.69 million of contingent income issuer callable yield notes due Sept. 25, 2026 linked to the Dow Jones industrial average, iShares Russell 2000 ETF and S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 11.45%, paid quarterly, if each underlier closes at or above its 70% coupon barrier on the related quarterly observation date.
The securities may be called starting Dec. 28 on any quarterly call date.
If the worst performing asset gains or ends above its 70% threshold value the payout at maturity will be par plus the contingent coupon. Investors will lose 1% for every 1% that the worst performing asset declines if it finishes 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 issuer callable yield notes
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Underlying assets: | Dow Jones industrial average, iShares Russell 2000 ETF and S&P 500 index
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Amount: | $5,685,000
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Maturity: | Sept. 25, 2026
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Coupon: | 11.45%, paid quarterly, if each underlier closes at or above its 70% 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 70% threshold value, par; 1% loss for every 1% that worst performing asset declines if it finishes below its threshold value
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Call: | Starting Dec. 28 on any quarterly call date
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Initial levels: | 33,963.84 for Dow Jones Industrial Average, 4,320.06 for S&P 500 Index, $176.67 for iShares Russell 2000 ETF
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Downside thresholds: | 23,774.69 for Dow Jones Industrial Average, 3,024.04 for S&P 500 Index, $123.67 for iShares Russell 2000 ETF, 70% of initial level
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Coupon barriers: | 23,774.69 for Dow Jones Industrial Average, 3,024.04 for S&P 500 Index, $123.67 for iShares Russell 2000 ETF, 70% of initial levels
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Pricing date: | Sept. 22
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Settlement date: | Sept. 27
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Agent: | BofA Securities, Inc.
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Fees: | 0.25%
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Cusip: | 09711AR26
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