Published on 3/21/2023 in the Prospect News Structured Products Daily.
New Issue: BofA prices $1.25 million contingent income autocallables on three indexes
New York, March 21 – BofA Finance LLC priced $1.25 million of contingent income autocallable yield notes due March 19, 2026 linked to the Euro Stoxx 50 index, the MSCI EAFE index and the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
Investors will receive a coupon of 9.5%, paid quarterly, if each underlying index closes at or above its 75% coupon barrier on the related quarterly observation date.
The securities may be called automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly observation date starting in September 2023.
If the worst performing index finishes at or above its 75% 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 from its initial level.
The notes are guaranteed by Bank of America Corp.
BofA Securities 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 indexes: | Euro Stoxx 50 index, MSCI EAFE index and S&P 500 index
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| Amount: | $1.25 million
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| Maturity: | March 19, 2026
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| Coupon: | 9.5%, paid quarterly, if each underlying index closes at or above its 75% 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 75% threshold value, par; otherwise, 1% loss for every 1% that worst performing index declines from initial level
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| Call: | Automatically at par if the closing level of each underlier is greater than or equal to its initial level on any quarterly observation date starting in September 2023
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| Initial levels: | 4,034.92 for EURO STOXX 50 Index, 1,970.37 for MSCI EAFE Index, 3,891.93 for S&P 500 Index
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| Downside thresholds: | 3,026.19 for EURO STOXX 50 Index, 1,477.78 for MSCI EAFE Index, 2,918.95 for S&P 500 Index, 75% of initial level
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| Coupon barriers: | 3,026.19 for EURO STOXX 50 Index, 1,477.78 for MSCI EAFE Index, 2,918.95 for S&P 500 Index, 75% of initial levels
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| Pricing date: | March 15
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| Settlement date: | March 20
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| Agent: | BofA Securities
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| Fees: | 2%
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| Cusip: | 09709VLW4
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